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Market Chatter: Manipal Health May Reduce Valuation to INR800 Billion for Planned IPO

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Manipal Health Enterprises, which operates the Manipal Hospitals chain, is said to be looking at a lower valuation of around 800 billion Indian rupees for its proposed initial public offering, Bloomberg reported on Friday, citing sources.

The healthcare services company aims to raise up to 110 billion rupees through its IPO, which is expected to be launched in the week starting July 27.

The targeted valuation for the share sale is below the $10 billion to $12 billion marketed range floated in April, sources told Bloomberg.

Manipal Hospitals did not immediately respond to MT Newswire's request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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