Manipal Hospitals Slashes IPO Valuation to $8.3 B, Bloomberg Reports
By ETF Desk
Manipal Hospitals, one of the country’s largest private multi‑specialty hospital groups, has announced a revision to its initial public offering (IPO) valuation, reducing the projected value to $8.3 billion. The change follows Bloomberg's report that the company is adjusting its listing parameters ahead of a planned market debut in early July.
Founded in 1978, Manipal Hospitals has grown to operate 18 hospitals across India, with a strong presence in Karnataka and Karnataka’s Udupi district, providing advanced medical services. The initial valuation of $10.8 billion, priced at ₹833 per share, faced scrutiny amid concerns about rising debt levels and declining operating margins.
The revised valuation is expected to tighten the price per share, potentially benefiting early investors but also delaying the company’s access to capital. Analysts note that the move reflects broader market caution toward healthcare stocks in India where profitability metrics are under pressure. The IPO will still target raising ₹8.1 billion ($65 million) to fund expansion plans.
Source: Google News – Manipal.