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Temasek-backed Manipal Hospitals is gearing up to go public, targeting a valuation between $8–10 billion.
The company is expected to file its papers by June 2025, with a listing planned for FY26.
One of India’s largest hospital networks, Manipal operates over 30 hospitals with more than 5,000 doctors across Bengaluru, Jaipur, Kolkata, Pune, and Goa.
Why it matters: India’s healthcare sector is booming, with rising demand for quality medical infrastructure. Manipal plans to use the IPO proceeds to expand its network, adding 3,000 beds by FY29 and entering Tier-2 cities like West Bengal, Chhattisgarh, and Andhra Pradesh.
Zoom out: post-pandemic, India’s healthcare industry has seen rapid consolidation and investor interest. With its strong brand and nationwide footprint, Manipal should be well positioned for growth.
