Manipal Hospitals Receives SEBI Approval for IPO, Aims for July 2026 Listing

Manipal Health Enterprises, supported by Temasek, has obtained approval from the Securities and Exchange Board of India for its initial public offering (IPO).  

The hospital chain is planning to list on the stock market by the end of July 2026 as per The NDTVProfit news report. 

IPO Details and Valuation 

The proposed IPO by Manipal Hospitals is anticipated to be close to $1 billion. However, the final issue size may vary based on market conditions and ongoing discussions. The hospital chain is targeting a valuation between $10 billion and $13 billion, although this has not been finalised. 

The IPO will include a fresh issue of shares along with an offer for sale by existing investors. Manipal Health Enterprises, which operates one of India's largest private hospital networks, had filed its draft papers with SEBI earlier this year. 

Lead Managers and Market Context 

The book-running lead managers for the issue are Kotak Mahindra Capital, Axis Capital, Goldman Sachs, Jefferies, JPMorgan, UBS, and DBS Bank.  

If the offering proceeds as planned, it could be one of India's largest healthcare IPOs and potentially the first billion-dollar public issue of the year. 

Read More: Cult.fit Prepares for IPO After Turning EBITDA Positive! 

Equity Market Activity 

This listing comes as equity capital market activity shows signs of recovery after a relatively slow start to 2026. The approval and planned listing of Manipal Hospitals highlight a resurgence in IPO activity within the healthcare sector in India. 

Conclusion 

Manipal Hospitals, backed by Temasek, has secured SEBI approval for its IPO, targeting a July-end listing. The proposed issue is expected to be close to $1 billion, with a valuation target between $10 billion and $13 billion. 

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