Trilegal advised MEMG Group on Manipal Health Enterprises' INR 9,275 crore IPO

Trilegal advised the MEMG Group, including Dr. Ranjan Pai, Manipal Global Health Services and MEMG International (the promoters of Manipal Health Enterprises), and Manipal Education and Medical Group India Private Limited (the promoter group selling shareholder), on the initial public offering (IPO) of Manipal Health Enterprises, aggregating INR 9,275.22 crore. The IPO comprised a fresh issue of INR 8,000 crore and an offer for sale of INR 1,275.22 crore by the selling shareholders.

Trilegal also advised the MEMG Group in relation to: (a) closing of a share purchase agreement, amendment to the SHA, and other ancillary agreements in connection with the IPO; and (b) nuances related to encumbrances from an IPO perspective, including release of the same to facilitate minimum promoter contribution and lock-in.

Manipal Health Enterprises operates a pan India network of multispecialty hospitals delivering a comprehensive range of care services—from outpatient services to complex tertiary and quaternary interventions, serving diverse patient populations across metro and non-metro cities.

The Trilegal Capital Markets Team advising on the mandate was led by Partner: Vijay Parthasarathi; and comprised Senior Associate: Prajna Kariappa; and Associates: Jahnavi Jayasimha Rao, Vansh Dhoka, Joseph George and Rishabh Shah.

The Trilegal Corporate Team was led by Partners: Harsh Maggon and Ankit Kejriwal; and comprised Counsel: Nehal Binani and Associate: Suansh Sudarshan Joshi.

The Trilegal Banking & Finance Team was led by Partners: Kannan Rahul and Vidhi Sarin; and supported by Counsel: Shreya Menon.

About Trilegal

Trilegal is a leading full-service law firm in India with over 25 years of experience, trusted for its in-depth expertise and client-centric approach. The firm advises a diverse set of clients, including Fortune 500 companies, global investment funds, major Indian conglomerates, domestic and international banks, technology and media giants, family offices, and high-net-worth individuals. With 161 partners operating under a distinctive lockstep model, Trilegal is the largest equity partnership in the country. The firm retains over 1,300 professionals across its Mumbai, Delhi, Gurugram, Bengaluru, Chennai, Pune, and GIFT City offices.

Trilegal has consistently been recognised among India’s top-tier firms in leading legal directories such as Chambers & Partners (Asia Pacific and Global), Legal 500 Asia Pacific, and Benchmark Litigation. It has also earned several prestigious accolades, including being named Law Firm of the Year at the ET Global Legal Awards2026, Best Overall Law Firm by India Business Law Journal (IBLJ) 2025, Innovative Lawyers in Disputes & Crisis Management by the Financial Times (FT) Innovative Lawyers Asia-Pacific Awards in 2025, M&A Firm of the Year by IFLR Asia-Pacific in 2024.

For more information, please get in touch with Prakruti Jani | Mob: +91-9867868976 | BD@trilegal.com.