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Manipal eyes Dec IPO filing, ₹1 tn valuation
Mint New Delhi
|November 10, 2025
IPO to see primary and secondary fundraising of more than $1 billion
Temasek-backed hospitals chain Manipal Health Enterprises Ltd is looking to file its draft red herring prospectus with the capital markets regulator in December. The initial public offer (IPO) will see a mix of primary and secondary fundraising of more than $1 billion, making it one of the largest healthcare IPOs in the region.
The Ranjan Pai-founded firm is aiming for a valuation of around ₹1 trillion to ₹1.2 trillion, according to three people with direct knowledge of the company's plans. The final decision on the filing timeline, the quantum of the raise, and whether any long-term investor will be brought onto the cap table will be made at the company's board meeting to be held next week, these people said.
This story is from the November 10, 2025 edition of Mint New Delhi.
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