Manipal Hospitals Eyes $8.3 Billion IPO, Reassessing Valuation
By ETF Desk
Manipal Hospitals, the leading Indian hospital chain backed by Singapore’s Temasek, has announced that it will cut the valuation for its upcoming initial public offering to US$8.3 billion.
In a statement released to The Edge Singapore, the company cited softer investor appetite and a competitive IPO market as reasons for the adjustment. The valuation was previously pegged at roughly US$10 billion, a figure that had been upheld in early 2023 market chatter. The company remains confident that the revised price will still attract robust investor participation while positioning it advantageously against peers in the healthcare sector.
The recalibrated valuation has implications for Udupi’s growing medical infrastructure, as Manipal Hospitals is a major provider in the region, offering advanced specialty care and potentially enabling further expansion of medical services in local districts. The IPO is slated to complete in the next quarter, with the new valuation expected to bolster confidence among both domestic and foreign investors. Source: Google News – Manipal.