Temasek-backed Manipal Health Enterprises Ltd. on Tuesday filed its preliminary papers with the capital markets regulator SEBI to raise funds via an initial public offering. The public offer will include fresh issues of shares worth Rs 8,000 crore and offer for sale of up to 4.32 crore shares.
Imperius Healthcare Investments Pte. Ltd. and Manipal Education and Medical Group India Pvt. are the promoters offloading stake in the OFS, while TPG SG Magazine Pte. Ltd., Seventy Second Investment Company LLC, Ammar Sdn Bhd, Novo Holdings Invest Asia A/S and Phoenix Bear Investments, LLC are other shareholders to sell stake.
The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The company, in consultation with the BRLMS, may consider an issue of equity shares aggregating up to Rs 1,600 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue.
Kotak Mahindra Capital Company, Axis Capital Ltd., Goldman Sachs (India) Securities Pvt., Jefferies India Pvt., J.P. Morgan India Pvt., UBS Securities India Pvt. and DBS Bank India Ltd. are the book-running lead managers for the issue and KFin Technologies Ltd. will be the registrar of the issue.
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Proceeds from the fresh issue worth Rs 5,378 crore will be used for repayment or prepayment of outstanding borrowings and accrued interest availed by one of the company's material subsidiaries, Manipal Hospitals Pvt. While Rs 574 crore will go towards acquisition of minority stake in its stepdown subsidiary, Sahyadri Hospital Pvt. and for other general corporate purposes.
The Karnataka-based company operates a pan-India network of multispecialty hospitals and offers a range of care services that include outpatient services to quaternary interventions. In the six months ended September 2025, Manipal Health has served 3.94 million patients and 7.19 million patients across the company's network.
As of September 30, 2025, Manipal Hospitals operated 38 hospitals with 10,761 licensed beds across 14 states and union territories.
The revenue from operations in fiscal 2025 stood at Rs 8,242.2 crore in comparison to Rs 6,171.63 crore in fiscal 2024. Revenue from operations in the six months ended September stood at Rs 4,713.05 crore. Profit for the last fiscal was at Rs 1,081.67 crore in comparison to profit of Rs 533.20 crore in fiscal 2024.
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