Manipal Health Eyes $1.2 B IPO, Backed by Temasek, Trims Ambitions
By ETF Desk
Manipal Health, a private hospital group headquartered in Udupi, has filed paperwork to list on the Bombay Stock Exchange and National Stock Exchange. The planned offering is valued at roughly 9 billion rupees ($1.2 billion), making it one of the largest health‑sector IPOs in India this year.
The move comes after the firm raised $400 million in 2024 through a series‑B round led by Singaporean sovereign‑wealth firm Temasek. Manipal Health, which operates in Karnataka, Kerala and Goa, has grown its network of hospitals and diagnostic centres to serve over 1.5 million patients annually. The IPO will facilitate expansion into tier‑2 and tier‑3 cities and fund new technology platforms.
For the region, the listing could spur further investment in healthcare infrastructure, offering local patients better access to specialist care. Analysts see the deal as a signal that investors are eyeing health‑tech services amid India’s rapid demographic shifts and rising demand for quality healthcare. Source: Google News – Manipal.