Manipal Health Enterprises Ltd., operator of Manipal Hospitals, is planning to lower its initial public offering (IPO) valuation to about ₹80,000 crore, down from the earlier estimated range of $10 billion to $12 billion, according to livemint.com. The company aims to raise up to ₹11,000 crore through the IPO, which is expected to launch in the week starting July 27.
The decision to reduce the valuation reflects cautious investor sentiment, sources familiar with the matter told livemint.com. The IPO, backed by Temasek Holdings Pte, is still on track to be India’s largest listing of 2026 so far, surpassing SBI Funds' $1 billion IPO earlier this week. The valuation adjustment comes after initial marketing efforts in April indicated a higher price range.
This move is significant in the Indian healthcare sector, where large IPOs have been closely watched by investors. Manipal Hospitals’ planned listing will be one of the biggest in the country this year, highlighting continued investor interest in healthcare services despite market volatility. The reduction in valuation aligns with broader trends of cautious capital allocation in the current market environment.
The IPO launch is scheduled for the week starting July 27, with Manipal Health Enterprises targeting to raise ₹11,000 crore. The company’s promoter, Ranjan Pai, and backer Temasek Holdings remain key stakeholders in the process, according to livemint.com.