Manipal has narrowed down its selection of banks to assist with its $1 billion initial public offering (IPO) and plans to submit the necessary documentation by June.

**Summary: Manipal Hospitals IPO Plans**

Manipal Hospitals, one of India’s leading healthcare chains, is preparing for a $1 billion IPO by June 2025, aiming for a valuation of $8-10 billion.

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### Manipal Hospitals Plans IPO

**Who:** Manipal Hospitals, backed by Temasek, is among India’s top three hospital chains.

**What:** The company is planning to file draft papers for a $1 billion initial public offering (IPO).

**When:** The IPO is expected to be filed by June 2025, with plans to list on the exchanges by the end of FY26.

**Where:** The company operates over 30 hospitals across India, including major cities like Bengaluru and Mangalore.

**Why:** The IPO will help raise capital for expansion and potentially pay down debt, although immediate capital is not required.

### IPO Management Team

– Manipal Hospitals has shortlisted several financial institutions to manage the IPO, including:
– Kotak Mahindra Capital Co.
– JP Morgan
– Axis Capital
– Jefferies
– Goldman Sachs

### Financial Expectations

– The company anticipates a valuation between $8 billion and $10 billion.
– Existing investors may sell some stakes through an offer for sale.
– The company could raise ₹5,000-6,000 crore by issuing new shares.

### Recent Developments

– In April 2023, Temasek acquired a 41% stake in Manipal for over $2 billion, increasing its total shareholding to approximately 59%.
– Manipal Education and Medical Group Pvt. Ltd retains around 31% of the company, while TPG holds 10-11%.
– Last year, Temasek sold nearly 8% of its stake to diversify its investments.

If the IPO proceeds, it would mark one of the largest offerings in India’s healthcare sector, following the recent merger of Aster and Blackstone-backed Quality Care, which created a major player in the industry.

### Conclusion

With the IPO on the horizon, how will Manipal Hospitals leverage this opportunity to enhance its market position?

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**FAQ: What is the expected valuation for Manipal Hospitals during its IPO?**

Manipal Hospitals is expecting a valuation between $8 billion and $10 billion during its upcoming IPO.