Manipal Health to invest ₹4,000cr for 2,400 new beds
Business
Manipal Health Enterprises, one of India's largest hospital chains, is set to invest ₹4,000 crore (about $414.38 million) to add 2,400 new beds, growing its capacity by more than 18% in the next few years.
Under managing director and CEO Dilip Jose, the move will help meet rising healthcare demand and strengthen its presence across the country.
Manipal Health IPO seeks ₹9,270cr
With 49 hospitals nationwide and backing from Singapore's Temasek Holdings, Manipal is also gearing up for a major IPO aiming to raise nearly ₹9,270 crore (around $960 million).
The public can subscribe from July 29-31.
The company expects to become net debt-free with the IPO proceeds, with the company targeting a valuation of up to $8 billion, making this one of India's biggest IPOs this year.