Manipal Health moves closer to Rs 10,000-cr IPO after Sebi nod

Manipal Health has received Sebi approval for its proposed Rs 10,000 crore IPO, moving closer to launch. From the fresh issue proceeds, about Rs 5,378 crore will be used to repay borrowings of its subsidiary Manipal Hospitals, while Rs 574 crore will go towards acquiring a stake in Sahyadri Hospitals.