The company and existing shareholders are offering as many as 164.5 million shares at a price range of ₹560-590 each, according to an announcement on Friday. | Photo Credit: istock.com

Manipal Health Enterprises Ltd. is seeking to raise as much as ₹9270 crore in an initial public offering, continuing a run of sizable share sales in India.

The company and existing shareholders are offering as many as 164.5 million shares at a price range of ₹560-590 each, according to an announcement on Friday. The Temasek Holdings Pte.-backed company is targeting a valuation of $8 billion, the announcement shows. Shareholders selling in the IPO include Imperius Healthcare Investments Pte., Manipal Education and Medical Group India Pte. and TPG SG Magazine Pte.

Manipal Health will start taking investor orders on July 29 and plans to close bidding on July 31. The operator of the Manipal Hospitals chain was seeking a lower valuation over cautious investor sentiment toward large public offerings as latest tensions in the Middle East rekindle turbulence in global markets, Bloomberg News reported last week.

The initial offering would be second-largest IPO in India this year, following SBI Funds Management Ltd.’s $1 billion listing. First-time share sales have raised $5.3 billion so far this year, compared with $7.1 billion through the end of July 2025, according to Bloomberg-compiled data. 

Published on July 24, 2026