Manipal Health may launch IPO after deal to buy AMRI Hospitals

Manipal Health is India's second-largest hospital chain, is estimated to have 8,700 hospital beds

Bangalore-based Manipal Health Enterprises, which is valued at about Rs 35,000 crore, may go for an initial public offering (IPO) after it closes a deal to acquire Emami Group’s AMRI Hospitals, said sources in the know.

The deal to acquire AMRI Hospitals from the Emami Group at an enterprise value of Rs 1,500 crore is likely to be closed soon. “A binding agreement has been signed between the two parties, and AMRI Hospitals are basically now working on the conditions precedent before the deal can be closed. It is likely to happen next month,” said a source close to the