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Temasek-Backed Manipal Health to Line up $1-Billion IPO
The hospital chain plans to use proceeds to repay borrowings and invest in a subsidiary as existing investors sell 12.10 billion rupees in shares.
- On Friday, Temasek-backed Manipal Health Enterprises announced its initial public offering will open for subscription on July 29, targeting a valuation of up to $8 billion.
- Priced between 560 and 590 rupees per share, the offering aims to raise 92.75 billion rupees to repay debt and invest in subsidiaries.
- Dilip Jose, managing director and CEO at Manipal Health Enterprises, announced plans to spend 40 billion rupees to increase bed capacity by over 18% in coming years.
- With 48 hospitals across India, this transaction stands as the country's second-largest primary market offering this year, following SBI Funds Management's $1.03 billion issue earlier this month.
- Anchor investors can submit bids by July 28, with public subscription for the offering open from July 29 to July 31.
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Temasek-backed Manipal Health seeks $8 billion valuation in India IPO
·London, United Kingdom
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Manipal Health Enterprises IPO: Price band set at ₹560-590 per share; check key dates, issue details
Manipal Health Enterprises IPO has set a price range of ₹560 to ₹590 per share. Subscription runs from 29 July to 31 July, with an allocation for qualified institutional buyers, non-institutional investors, and retailers. Total issue size is ₹9,275 crore.
·New Delhi, India
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The Economic TimesReposted by 
Times of India
Times of IndiaTemasek-backed Manipal Health to line up $1-billion IPO
Manipal Health Enterprises plans a billion-dollar initial public offering this month. The company will announce its price band on July twenty-fourth. The offering includes a fresh issue of shares and an offer for sale. Proceeds will primarily be used to reduce debt and acquire a minority stake. This follows SBI Funds Management's successful large IPO earlier this year.
·Mumbai, India
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