Temasek-backed Manipal Health gets SEBI approval for India IPO, eyes July listing

Manipal Health, backed by Temasek, has received SEBI approval for its India IPO and is targeting a market debut in late July or early August. The hospital chain had filed for an IPO of up to $1.2 billion in March, which is expected to be one of the largest IPOs by an Indian healthcare company. The listing comes amid a broader IPO slowdown caused by record foreign investor selling, with overseas investors offloading around $29.2 billion worth of shares year-to-date.