Deliberations are ongoing and details of the offering including its size and timing could still change, the people said. A representative of Manipal Hospitals did not immediately respond to requests for comments.
(May 14): Manipal Health Enterprises Pvt Ltd, which runs the Manipal Hospitals chain, is set to begin formal marketing as early as next week for its planned initial public offering (IPO) to raise more than US$1 billion ($1.27 billion), according to people familiar with the matter.
The Temasek Holdings Pte Ltd-backed company is targeting a valuation of about US$12 billion during two weeks of meetings with domestic and international investors, the people said, asking not to be identified because the information is private.
