Manipal Hospitals Prepares $1 Billion IPO, Backed by Temasek and Dr Ranjan Pai
By ETF Desk
Manipal Hospitals announced its intention to list on the Mumbai and National Stock Exchanges after filing the requisite registration statement. The company is expected to raise more than $1 billion, making it the biggest IPO by a medical company in India.
The company, headquartered in Manipal, has built a network of 4,000 beds across India and has been backed by major investors, including Temasek Holdings of Singapore and entrepreneur Dr Ranjan Pai. The IPO submission came as the company continues to expand its outpatient clinics and diagnostic units.
The IPO could unlock capital for further expansion, improve access to healthcare in underserved regions, and attract foreign investment. Analysts expect the company to list within the next few months. Source: Google News – Manipal.