Manipal Hospitals is said to plan $1 billion IPO in July

Manipal Hospitals, backed by Temasek Holdings, is planning a $1 billion IPO in July targeting a valuation of about $10 billion. The offering includes a secondary sale of up to 43.23 million shares (about 3.66% stake) by existing investors and a fresh issue worth about 80 billion rupees. The company has filed its draft prospectus with SEBI in March and is working with advisers including Kotak Mahindra Capital, Axis Capital, Goldman Sachs, JPMorgan, Jefferies, UBS Securities, and DBS Bank.