New Delhi, June 18 -- Manipal Hospitals' operator and housing finance company TruHome Finance are gearing up to list on the stock exchanges as early as next month, according to separate media reports.

Manipal Hospitals

Manipal Health Enterprises Pvt Ltd, which runs the Manipal Hospitals chain, is likely to launch its initial public offering as early as next month, targeting a valuation of $10 billion (around Rs 94,251 crore), according to a Bloomberg report.

The Temasek-backed company has completed investor meetings. Deliberations are ongoing and details of the offering, including its size and timing, could still change, the report said, citing people familiar with the matter.

Manipal Hospitals filed its draft prospectus with the Securities and Exchange Board of India (Sebi) in March. The proposed share sale includes a secondary offering of as many as 43.23 million shares, or about a 3.66% stake, by existing investors, as well as a fresh issue of shares worth about Rs 8,000 crore, according to the document.

TruHome Finance

TruHome Finance, backed by US private equity major Warburg Pincus, is gearing up to launch its IPO next month, a Moneycontrol report stated. The affordable housing finance company is conducting deal roadshows after receiving Sebi approval last week, the report said, citing people familiar with the matter. JM Financial, IIFL Capital Services, Jefferies India and Kotak Mahindra Capital have been appointed as the book-running lead managers for the issue.

The company's decision to list on the stock exchanges comes amid easing geopolitical tensions, and markets show signs of optimism, the report noted. The IPO is expected to be sized at about Rs 3,000 crore (around $318 million), comprising a fresh issue of Rs 1,500 crore along with an offer for sale by existing shareholders. The OFS will include shares sold by Mango Crest, an affiliate of Warburg Pincus.

The report said the final valuation is still being determined, adding that the IPO is expected to be priced in line with peers such as Home First Finance Company, which has a market capitalisation of about Rs 11,000 crore. Larger peer Aadhar Housing Finance has a market capitalisation of about Rs 21,000 crore.

Published by HT Digital Content Services with permission from VC Circle.