Manipal Health Enterprises' Rs 9,275-crore IPO has moved into its final day of bidding with demand still looking muted. By the end of Day 2, the public issue was subscribed 45% overall against the 9 crore shares on offer, showing that investor participation had not yet picked up strongly.
The retail portion was also subscribed 45%, with bids placed for the 1.64 crore shares reserved for that segment. The update suggests that small investors have shown interest, but not at the level usually seen in heavily oversubscribed offerings.
Another closely watched indicator, the grey market premium, was around 1%, which points to limited near-term listing enthusiasm. GMP is unofficial and can change quickly, but such a narrow premium generally reflects cautious sentiment rather than strong momentum.
For investors weighing whether to subscribe or skip, the current signals appear mixed. The company has known backers, including Temasek and healthcare entrepreneur Ranjan Pai, yet the subscription trend and low GMP indicate that the market is taking a measured view. That means the decision may depend more on an investor's long-term outlook on the hospital and healthcare sector than on expectations of a sharp listing gain.
