Manipal Hospitals Sets $1 Billion IPO, Backed by Temasek
By ETF Desk
Manipal Hospitals, a leading healthcare chain in southern India, has announced it will launch a $1 billion initial public offering (IPO) on the Mumbai and National Stock Exchanges. The filing, made this week, follows the company’s expansion plan and a recent stake acquisition by Singapore investor Tem Sek.
Historically led by the Manipal Group, the hospital chain has grown rapidly under private‑equity backing. The IPO comes at a time when India is opening up its healthcare sector to larger listings to support the country’s aspiration to become a major pharma market.
The shares will be priced at a $1 billion valuation, potentially more than five‑fold the company’s current market value. Capital raised is expected to finance infrastructure projects that could reach remote districts such as Udupi in Karnataka, widening access to specialist care. Source: Google News – Manipal.