Manipal Health clears Sebi hurdle for Rs 10,000cr IPO

Manipal Health Enterprises has received approval from the Securities and Exchange Board of India (Sebi) to proceed with an initial public offering (IPO), targeting fund-raising of about Rs 10,000 crore. Proceeds are expected to be used primarily to repay borrowings at subsidiaries and to acquire certain equity stakes. The company said the IPO is aimed at optimising its capital structure and does not reflect any change in sector policy, M&A-led consolidation, or a shift in its profit model. It added that the transaction is not expected to have a direct price impact on stock indices, healthcare ETFs, or related commodities.

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