Manipal Health Enterprises plans to utilise ₹5,552.7 crore from the fresh issue to repay debt, primarily borrowings raised for the acquisition of Sahyadri Hospitals. Another ₹574 crore will be used to acquire the remaining 9.84% stake in Sahyadri Hospitals. As of March 2026, Manipal Health’s total debt stood at ₹11,185 crore, and the IPO proceeds are expected to reduce nearly 47.5% of the outstanding borrowings.
