Manipal Health readies $1 bn IPO; targets $12-15 bn valuation

Valuation of India's largest hospital network is around $12-15 bn. The Issue will comprise fresh issue of shares and a small portion as OFS

Manipal Health Enterprises, India’s largest hospital network operator, is preparing to file a $1 billion initial public offering (IPO) early next year at a valuation of $12-15 billion, sources said.

 

The issue will primarily comprise a fresh issue of shares, with a small portion as an offer for sale (OFS) by existing investors. Decisions are not final. “The proceeds will be primarily used for growth and expansion of the hospital, and there would be a small portion of OFS,” said a source close to the development.

 

“Manipal Health IPO papers are likely to be filed with Sebi in January, and