Temasek-backed Manipal Health seeks to raise $960 million in IPO; price band set at ₹560-590
AI Summary
Manipal Health Enterprises Ltd. is planning to raise up to ₹9270 crore in an IPO, offering 164.5 million shares priced between ₹560-590 each, aiming for an $8 billion valuation. The IPO, set to open for orders on July 29 and close on July 31, comes amid cautious investor sentiment due to global market tensions, making it the second-largest IPO in India this year.
Manipal Health Enterprises Ltd. is seeking to raise as much as ₹9270 crore in an initial public offering, continuing a run of sizable share sales in India.
The company and existing shareholders are offering as many as 164.5 million shares at a price range of ₹560-590 each, according to an announcement on Friday. The Temasek Holdings Pte.-backed company is targeting a valuation of $8 billion, the announcement shows. Shareholders selling in the IPO include Imperius Healthcare Investments Pte., Manipal Education and Medical Group India Pte. and TPG SG Magazine Pte.
Manipal Health will start taking investor orders on July 29 and plans to close bidding on July 31. The operator of the Manipal Hospitals chain was seeking a lower valuation over cautious investor sentiment toward large public offerings as latest tensions in the Middle East rekindle turbulence in global markets, Bloomberg News reported last week.
The initial offering would be second-largest IPO in India this year, following SBI Funds Management Ltd.’s $1 billion listing. First-time share sales have raised $5.3 billion so far this year, compared with $7.1 billion through the end of July 2025, according to Bloomberg-compiled data.
Original Article
Published on Hindu BusinessLine