Go Unlimited with Magzter GOLD
Get unlimited access to 9,500+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Manipal IPO filing by June, shortlists banks
Mint Hyderabad
|March 25, 2025
Temasek-backed Manipal Hospitals plans to file draft papers for a $1 billion initial public offering by June, three people aware of the development said.
The healthcare chain has shortlisted Kotak Mahindra Capital Co., JP Morgan, Axis Capital, Jefferies and Goldman Sachs to manage the IPO, the people said, adding formal mandates have not been issued yet. The company, among India's top three hospital chains, is expecting a valuation of $8-10 billion.
Manipal plans to list on the exchanges by the end of FY26, one of the three people cited above said. Some of the existing investors of Manipal are likely to sell some stake through an offer for sale. The company may also raise ₹5,000-6,000. crore by selling new shares, the second person added.
Spokespersons for Manipal Hospitals, JPMorgan, Axis Capital, TPG and Jefferies declined to comment, while Temasek, Goldman Sachs and Kotak Mahindra Capital Co. did not respond to emailed queries.
This story is from the March 25, 2025 edition of Mint Hyderabad.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 9,500+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Hyderabad
Mint Hyderabad
When street dogs, cats bring the office closer
When colleagues work towards a collective goal like looking after community animals, it offers them a sense of purpose
4 mins
September 15, 2025
Mint Hyderabad
US, Chinese officials hold talks in Spain
US and Chinese officials began talks in Madrid on Sunday on their strained trade ties, a looming divestiture deadline for Chinese short video app TikTok and Washington's demands that its allies place tariffs on China over its purchases of Russian oil.
1 min
September 15, 2025
Mint Hyderabad
Will We Disprove Yes Minister With Pension Reforms?
In Yes Minister, a TV satire on British politics, Sir Humphrey often stymied urgent reforms by setting up ‘interdepartmental committees.’
3 mins
September 15, 2025
Mint Hyderabad
It's Clear That Gamblers Should Pay More Taxes Than Investors
Investing aids the economy but gambling is simply consumption
3 mins
September 15, 2025
Mint Hyderabad
Q-comm gaming the grocery run
Platforms are leaning on gamification for marketing & retention
2 mins
September 15, 2025
Mint Hyderabad
Why Meme Marketers Hate Congratulations
With more budgets moving to influencer and meme marketing, it's sometimes hard to tell what is an ad and what isn't
4 mins
September 15, 2025
Mint Hyderabad
SonyLIV rolls with duel despite outrage
The broadcaster, streaming Asia Cup for first time, is sure of adding viewers, boosting revenue despite Indo-Pak tensions
2 mins
September 15, 2025
Mint Hyderabad
Govt alert on Cairo pharma payments
The Indian embassy in Cairo has issued a cautionary trade advisory to all Indian pharmaceutical exporters regarding Biomed For Pharmaceutical Industries, an Egyptian firm.
1 min
September 15, 2025
Mint Hyderabad
Digital loans against MFs are fast, but here's what you should know
Do not max out the LTV ratio, do not use it for long-term funding, and keep a watch on market volatility
5 mins
September 15, 2025
Mint Hyderabad
To curb smokeless tobacco use, India targets 100 high-burden districts
Consumption of smokeless tobacco, a leading cause for cancer, remains one of India's biggest public health challenges, with more than one in five people using such products.
2 mins
September 15, 2025
Listen
Translate
Change font size