On the National Stock Exchange (NSE), the stock opened at Rs 652 per share, up 10.51 per cent from the issue price of Rs 590. On the Bombay Stock Exchange (BSE), it debuted at Rs 655, reflecting an 11.02 per cent premium.

The IPO, priced at Rs 590 per share, valued the Bengaluru-headquartered healthcare company at over Rs 77,600 crore at the upper end of the price band.

The company's IPO received a positive response from investors, with the issue being subscribed 4.92 times by the close of bidding on Friday. According to NSE data, investors placed bids for about 44.3 crore shares against the 9 crore shares available for subscription.

Institutional investors drove the demand, with the Qualified Institutional Buyers (QIB) category subscribed 8.25 times. The non-institutional investor (NII) portion was subscribed 1.02 times, while the retail investor segment recorded a 93 per cent subscription.

Before the public issue opened, Manipal Health Enterprises secured Rs 4,167 crore from anchor investors. Key participants in the anchor book included Abu Dhabi Investment Authority and Allianz Global Investors Fund.

The IPO consisted of a fresh issue of equity shares worth up to Rs 8,000 crore along with an offer-for-sale (OFS) of up to 2.16 crore shares by existing shareholders.

According to the company, around Rs 5,378 crore from the fresh issue will be used to repay or prepay borrowings of its subsidiary, Manipal Hospitals Pvt Ltd. Another Rs 574 crore has been allocated for acquiring the minority stake in step-down subsidiary Sahyadri Hospitals Pvt Ltd, while the remaining funds will be used for general corporate purposes.

Manipal Health Enterprises operates a network of multispecialty hospitals across India, offering a wide range of healthcare services, including outpatient care, advanced tertiary treatment, and specialised quaternary care.