The company is seeking to raise as much as US$1 billion and is targeting a valuation of up to US$13 billion, according to people familiar with the matter. Manipal Hospitals may consider a pre-IPO placement of shares worth as much as 16 billion rupees, according to the prospectus. Manipal, part of a conglomerate with interests spanning healthcare, education and insurance, operates more than 49 hospitals with 10,600 beds, according to its website. Max Healthcare Institute Ltd is currently India’s most valuable hospital chain, with a market capitalisation of about US$9.9 billion. The most recent major hospital IPO in India was Dr Agarwal’s Health Care Ltd’s US$350 million offering last year.

Source: The Edge Markets March 24, 2026 08:19 UTC