SEBI approves Manipal Health Enterprises’ initial public offering, advancing the Temasek-backed hospital chain’s plan to list in the coming weeks. Multiple outlets report that SEBI has given clearance for a share sale expected to be in the range of ₹8,000 crore, with some reports also citing figures around $1 billion for the offering size. The company had filed its draft papers in March, and SEBI reviewed them before issuing observations, according to one report. NDTV and Reuters-sourced reporting indicate the hospital chain plans to file an updated draft prospectus and aims for a market debut in late July or early August, with the exact timing not yet officially public.
Funds from the IPO are reported to be used mainly for repayment of debt, including subsidiary borrowings, and for acquisitions and other growth-related spending. One outlet also notes that existing shareholders plan to sell shares through an offer for sale (OFS). In parallel, SEBI also clears the IPO of Rentomojo, as reported by Business Line. The broader IPO market context is described as cautious, amid foreign investor selloffs and geopolitical risk.
