Manipal Hospitals, backed by Temasek, receives approval from India’s market regulator SEBI for its proposed initial public offering (IPO), according to NDTV’s report. The company is expected to move forward with the public offering process and plans to file an updated draft prospectus soon. The report also says the proposed issue is expected to be close to $1 billion, based on information from sources cited by the outlet. Manipal Hospitals is looking to complete the listing around the end of July, subject to customary procedural steps and market conditions.
The update follows SEBI’s nod for the IPO, a key regulatory milestone that typically allows issuers to proceed with the next stages, including updating and submitting prospectus documents. No additional details on the final size of the offer, pricing, or the specific timeline for book-building or subscription are provided in the cited summary. The report frames the development as part of the company’s plan to reach a late-July listing.
