Manipal Health Enterprises Sets Sights on Major IPO

Manipal Health Enterprises, backed by Temasek, plans to raise funds through an IPO including a new share issue worth Rs 8,000 crore. The move includes an offer-for-sale by several promoters and investors. Funds will be used for loan repayments, a stake acquisition, and general corporate needs.

Temasek-backed Manipal Health Enterprises has submitted initial documents with capital markets regulator Sebi for an IPO aimed at raising Rs 8,000 crore. This public offering comprises a fresh share issue and an offer-for-sale by promoters and investors.

The proceeds from the new share issue will be utilized to pay off loans of Manipal Hospitals, acquire a minority stake in Sahyadri Hospitals, and cover general corporate purposes. There is also potential for a pre-IPO placement of up to Rs 1,600 crore, which could reduce the size of the fresh issue.

Manipal Health, operating a network of multispecialty hospitals across India, served 3.94 million patients in the first half of 2025. The company reported a revenue of Rs 8,242.2 crore and a net profit of Rs 1,081.6 crore for FY25. Top financial entities are supporting the offering as lead managers.