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Manipal Hospitals plans $1B IPO in July
17 Jun 2026

Manipal Health Enterprises, which runs the Manipal Hospitals chain, is planning to launch its initial public offering (IPO) as early as next month, as per the Economic Times.

The company, backed by Temasek Holdings Pte., has already held investor roadshows and is eyeing a valuation of around $10 billion.

The upcoming IPO could be India's first billion-dollar offering this year and may help revive the country's equity capital markets after a slow start in 2026.

Proposed offering includes secondary and fresh issue of shares
Market impact

A successful IPO by Manipal Hospitals could be a game-changer for India's equity capital markets.

So far in 2026, Indian companies have raised about $3.6 billion through first-time share sales.

The proposed offering from Manipal includes a secondary sale of up to 43.23 million shares (about 3.66% stake) by existing investors and a fresh issue of shares worth around ₹8,000 crore ($1 billion).

Manipal Hospitals filed draft prospectus in March
Listing process

Manipal Hospitals had filed its draft prospectus with India's market regulator in March.

The company is now working with a team of advisers for the potential listing.

These include Kotak Mahindra Capital Co., Axis Capital Ltd., and local arms of global financial giants like Goldman Sachs Group Inc., JPMorgan Chase & Co., Jefferies Financial Group Inc., UBS Securities, and DBS Bank Ltd.