New Delhi, July 6 -- Temasek-backed Manipal Health Enterprises Ltd has got the Securities and Exchange Board of India's approval for its planned $1.1 billion initial public offering (IPO), according to a regulatory notification on Monday. The company had filed its draft red herring prospectus on 23 March 2026.

The Bengaluru-based company plans to raise up to Rs.8,000 crore in primary capital, with its investors set to sell over 43.2 million shares. The IPO is likely to value the Ranjan Pai-founded firm at $8.0-8.5 billion, people aware of the matter told Mint.

This means that the IPO of Manipal Health, which competes with Apollo Hospitals and Aster Care, could be one of the biggest share sales in India's healthcare sector.

Mint had rep...