Temasek International remains heavily bullish on India's healthcare sector, eyeing both organic and inorganic growth opportunities as part of its broader India strategy. Highlighting this conviction, Ravi Lambah, Head of Strategic Initiatives and Head India, noted that the firm plans to stay invested in Manipal Hospital for the long haul.
Treating the hospital chain as a fundamentally strong, board-run company, Lambah indicated that an initial public offering would be viewed simply as an event rather than a shift in Temasek's long-term investment thesis.
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Temasek-backed Manipal Health Enterprises received approval from the Securities and Exchange Board of India in early July, for its proposed initial public offering. The IPO is targeting a stock market listing by the end of July.The proposed IPO is expected to be close to $1 billion, although the final issue size could change depending on market conditions and ongoing discussions, as per previous reports.
Ravi Lambah emphasised that external disruptions, such as global war shocks, are not altering the structural outlook on the Indian market. He noted that investment momentum remains strictly on track, with plans to deploy approximately $10 billion in India over the next three years progressing as scheduled.
Highlighting a strong conviction in the domestic consumption theme, Lambah pointed out that India continues to stand out as the best-performing market globally, easily absorbing the impact of recent rupee depreciation.
The Temasek executive called the company's early investment in NSE in 2010, a thematic play in financial services sector. The company is also eyeing opportunities in battery storage, technologu and manufacturing for export purposes in addition to existing ventures.
Temasek-backed Manipal Health Enterprises has received approval from the Securities and Exchange Board of India for its proposed initial public offering and is targeting a stock market listing by the end of July.
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