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IPO Frenzy: SBI Funds, Manipal Hospitals Eye $1B+ Market Debut
20 Mar
Summary
- SBI Funds and Manipal Hospitals planning IPOs exceeding $1 billion.
- SBI Funds IPO likely ₹12,000-13,000 crore, an offer for sale.
- Manipal Hospitals IPO estimated at ₹9,000-11,000 crore with fresh equity.
As of March 20, 2026, India's financial and healthcare sectors are poised for substantial IPO activity. SBI Funds Management and Manipal Hospitals are preparing to file their draft red herring prospectuses (DRHPs) for initial public offerings expected to collectively exceed $1 billion by the close of March.
SBI Funds' proposed IPO is likely to be an offer for sale, with an issue size estimated between ₹12,000 and ₹13,000 crore. The asset manager, a joint venture between State Bank of India and Amundi, could see its valuation range from ₹1.3 lakh crore to ₹1.5 lakh crore.
Concurrently, Temasek-backed Manipal Hospitals is preparing its DRHP, with an IPO estimated between ₹9,000 and ₹11,000 crore. This offering is expected to combine fresh equity issuance with an offer for sale component.
Investment bankers from firms including Bank of America, HSBC, Kotak Mahindra Capital, Goldman Sachs, Axis Capital, JP Morgan, and Jefferies are involved in these significant market debuts.
