Manipal Health Enterprises has secured regulatory clearance for its planned initial public offering. The healthcare company aims to raise about ten thousand crore rupees through the share sale.
The approval from SEBI allows the firm to proceed with the offering. Proceeds are earmarked to repay borrowings at subsidiaries and to acquire a stake in another entity.
This step advances the expansion strategy of the hospital operator. Manipal Health runs a network of facilities under the Manipal Hospitals brand.
No timeline for the IPO launch was disclosed in the announcement.