Manipal Health Sells Shares Amid Rising Grey Market Premium – IPO Report
By ETF Desk
Manipal Health, a flagship healthcare and education conglomerate headquartered in Udupi, announced its initial public offering (IPO) today, setting a Good Market Price (GMP) range of ₹400 to ₹450 per share. Shares closed in the grey market at a premium of ₹610, reflecting heightened demand from retail and institutional investors.
The IPO, which is listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), is underwritten by major banks and is expected to raise approximately ₹8.5 billion. Analysts note that the elevated grey market premium, currently 10% above the GMP, signals strong confidence in Manipal’s growth prospects and robust interest from investors across India's financial districts.
The surge in share price could attract more local investors in Udupi and the surrounding districts, bolstering confidence in the district’s financial markets. Moreover, the listing is expected to increase liquidity for Manipal’s shares and may serve as a catalyst for other healthcare sector IPOs in the region. Source: Google News – Manipal.