Manipal Hospitals targets over $1bn IPO, the largest in India
By ETF Desk
Manipal Hospitals, the campus‑based multi‑speciality group led by Dr. Ranjan Pai, has filed a prospectus with the Securities and Exchange Board of India (SEBI) to raise more than $1 bn in a public offering. The bid, targeting a valuation above $2 bn, would make it the most valuable IPO in India’s healthcare sector to date.
The hospital chain, which operates 22 medical centres across Karnataka, Kerala and Goa, is supported by Temasek Holdings and other strategic investors. It has recorded a 25% year‑on‑year growth in revenues and has a pipeline of expansion plans across the country.
Analysts say the listing could propel the company into a leading position in India’s expanding health‑care market and raise the bar for future IPOs in the sector. It also comes amid a broader trend of technology and venture capital firms investing heavily in medical services. Source: Google News – Manipal.