Manipal Health Enterprises, backed by Singapore’s investment firm Temasek, has received approval from the Securities and Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO) and is targeting a stock market debut in late July or early August 2026. The listing is expected to be among the largest IPOs in India’s healthcare sector, reflecting strong investor confidence in the country’s growing hospital industry.

The hospital chain had filed its Draft Red Herring Prospectus (DRHP) with SEBI in March 2026, proposing to raise up to USD 1.2 billion (approximately ₹10,000 crore). The proceeds are expected to support the company’s long term growth strategy, strengthen its balance sheet and capitalize on the increasing demand for tertiary, quaternary and specialty healthcare services across India.

Manipal Health has emerged as one of India’s largest integrated healthcare providers following its acquisition of Columbia Asia India and AMRI Hospitals, significantly expanding its presence across the country. The hospital network currently operates over 40 hospitals with more than 10,000 beds across 19 cities, offering advanced care in specialties including oncology, cardiology, neurosciences, organ transplantation, orthopaedics and critical care.

The proposed IPO comes at a time when India’s healthcare sector is witnessing sustained growth, driven by rising healthcare expenditure, increasing health insurance penetration, an ageing population and growing demand for specialized medical services. According to industry estimates, India’s hospital market is expected to exceed USD 190 billion by 2030, with organized hospital chains continuing to expand through acquisitions, infrastructure investments and digital transformation initiatives.

Healthcare industry experts believe Manipal Health’s public listing could further accelerate investments in hospital infrastructure, medical technology and clinical excellence while reinforcing investor interest in India’s rapidly expanding healthcare sector. The IPO is also expected to strengthen the company’s ability to pursue future expansion opportunities and enhance access to advanced healthcare services across the country.

The SEBI approval marks a significant milestone for Manipal Health Enterprises and underscores the growing momentum in India’s healthcare investment landscape, where leading hospital chains continue to attract strong domestic and global investor interest.