Manipal Health, Backed by Temasek, Eyes $1 Billion IPO

Manipal Health Enterprises, backed by Temasek, is planning an initial public offering that could raise about $1 billion, according to reports.

The IPO would be one of the largest healthcare listings in India, testing investor appetite for hospital stocks. Manipal Health operates a chain of hospitals across the country, with a focus on tertiary and quaternary care.

Temasek holds a significant minority stake in the company, having invested in 2022. The IPO proceeds are expected to fund expansion and debt repayment.

The company did not immediately respond to a request for comment. Banks are expected to be mandated in the coming weeks.