Manipal Hospitals is said to cut IPO valuation from $10-12 billion estimated earlier

Manipal Health Enterprises, operator of Manipal Hospitals and backed by Temasek Holdings, is seeking a lower valuation of about 80,000 crore rupees in its planned IPO, down from the 10-12 billion dollar range marketed in April. The IPO, likely to be launched in the week starting 27 July, aims to raise as much as 11,000 crore rupees through a fresh issue of 8,000 crore rupees and an offer for sale of up to 43.23 million shares by existing shareholders including TPG Inc. Despite the valuation cut, the offering is set to be India's biggest IPO of 2026, surpassing SBI Funds Management's 1 billion dollar listing.