Manipal Health Enterprises Limited has fully redeemed the outstanding listed non-convertible debentures (NCDs) of nominal value ₹5,310 crore issued by its wholly owned subsidiary, Manipal Hospitals Private Limited.
The redemption was undertaken using the relevant portion of the IPO proceeds, in accordance with the objects of the initial public offering disclosed in the Prospectus dated July 31, 2026.
The move marks a key step in the company’s post-listing financial strategy and is expected to strengthen its balance sheet and improve financial leverage.
Sameer Agarwal, Chief Financial Officer, Manipal Health Enterprises Limited, said, “The full redemption of ₹5,310 crore of NCDs is an important milestone in our post-listing journey. By deploying the IPO proceeds towards debt repayment as planned, we are strengthening our balance sheet, reducing our interest burden, and creating greater financial headroom to support our growth plans.
The company was listed on the markets on Wednesday, August 5, 2026. The IPO proceeds are actively being deployed to pay down debt accumulated from buying out clinical groups like Columbia Asia and Sahyadri Hospitals. The operator has an installed capacity of 13,140 beds across its network, making it the largest private healthcare network in the country by bed capacity. For Q1, the company posted a 38.1% year-on-year rise in its revenue to ₹3,091 crore and EBITDA rose 26.4% to ₹749 crore. PAT stood at ₹243 crore.