Manipal Hospitals, backed by Temasek and Dr. Ranjan Pai, files for India's largest healthcare IPO exceeding $1 billion
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Manipal Hospitals Files for India's Largest Healthcare IPO, Targets $1 Billion-Plus
M
Moneycontrol•24-03-2026, 14:19
Manipal Hospitals Files for India's Largest Healthcare IPO, Targets $1 Billion-Plus
•Temasek and Dr Ranjan Pai-backed Manipal Hospitals has filed draft papers with Sebi for a mega $1 billion-plus IPO, the biggest ever in Indian healthcare.
•The IPO includes a fresh issue of Rs 8,000 crore and an offer for sale (OFS) of up to 43.23 million shares by promoters and existing shareholders.
•Proceeds from the fresh issue will primarily be used for debt repayment (Rs 5,378 crore) and acquiring a minority stake in Sahyadri Hospitals (Rs 574 crore).
•Manipal Hospitals operates 38 hospitals (48 pro forma) with 10,761 licensed beds (12,367 pro forma) across 14 states and union territories, serving 3.94 million patients in H1 FY25.
•The company has aggressively expanded through acquisitions since 2021, including Sahyadri Hospitals, Vikram Hospitals, Columbia Asia's Indian operations, and AMRI Hospitals.
