Mumbai, May 26 -- Temasek-backed Manipal Health Enterprises Ltd has begun meeting institutional investors for its planned $1.1 billion initial public offering (IPO), three people aware of the matter said. The company expects the regulator's nod in the coming weeks, and may launch the share sale between June-end and mid-July.

The progress on the share sale is significant because India's IPO market has practically remained shut for the past several months due to the West Asia crisis, which has sucked liquidity out of emerging markets. "This issue's success could very well decide if other large IPOs can be launched in this market," one of the two people cited above said.

The IPO of Manipal Health, which competes with Apollo Hospitals and A...