Manipal Health and Rentomojo Receive SEBI Green Signal: IPO Road Ahead for Healthcare and Rental Giants

Manipal Health and Rentomojo Receive SEBI Green Signal: IPO Road Ahead for Healthcare and Rental Giants​

The path to an Initial Public Offering (IPO) has been cleared for two prominent Indian enterprises, Manipal Health Enterprises and Rentomojo. Both companies received key observations from the Securities and Exchange Board of India (SEBI), setting them up for a major fund-raising drive within the coming year.

Manipal Hospitals and Rentomojo had previously filed their Draft Red Herring Prospectus (DRHP) with the capital markets regulator in March 2026. SEBI released its observations on these draft papers, giving the companies the necessary regulatory clearance to proceed with their public listings.

Manipal Health Enterprises IPO Details and Objectives​

Manipal Health Enterprises plans to raise a substantial Rs 8,000 crore through the issuance of fresh shares in its upcoming IPO. The offering structure also includes an offer-for-sale component, where existing shareholders are set to sell 4.32 crore equity shares.

Imperius Healthcare Investments, Manipal Education and Medical Group India, alongside institutional investors such as TPG SG Magazine, Seventy Second Investment Company, Ammar Sdn Bhd, Novo Holdings Invest Asia, and Phoenix Bear Investments, will be involved in the offer-for-sale component of the IPO. The company may also consider a pre-IPO funding round of up to Rs 1,600 crore, which would reduce the size of the fresh issue component proportionally.

Operational Scale and Fund Utilisation for Manipal Hospitals​

Manipal Health currently operates 38 hospitals with 10,761 licensed beds across 14 states and union territories. The company intends to use the net proceeds from its fresh issuance primarily for loan repayment and acquiring a minority stake in Sahyadri Hospitals.

The expanded network strength of Manipal Hospitals was noted by the company itself. They stated that following the acquisition of Sahyadri Hospitals and its subsidiaries in October 2025, which added 1,606 licensed beds, their total pro forma licensed bed capacity stood at 12,367 as of September 30, 2025.

Merchant Banking for Manipal Health IPO​

Several top financial institutions have been appointed as the merchant bankers for the complex Manipal Health Enterprises IPO. These include Kotak Mahindra Capital Company, Axis Capital, Goldman Sachs (India) Securities, Jefferies India, JP Morgan India, UBS Securities India, and DBS Bank India.

Rentomojo's Fundraising Strategy Unveiled​

Bengaluru-based rent rental platform, Rentomojo, which operates in the furniture and appliances rental space, is seeking to raise Rs 150 crore through a fresh issue component of its IPO. This offering will be combined with an offer-for-sale of 2.8 crore equity shares by investors and promoters.

Rentomojo, founded in 2012 by Geetansh Bamania, has secured backing from Accel India, ValueQuest, and GMO Internet Group. The company plans to utilize the funds raised from the net fresh issue for several key purposes. These include debt repayment, payment of lease rental or license fee for warehouses and experience stores, and general corporate requirements.

Merchant Bankers Managing Rentomojo IPO​

The fundraising effort for Rentomojo is being managed by a consortium of financial advisors. Motilal Oswal Investment Advisors, Axis Capital, and IIFL Capital Services have been appointed as the merchant bankers to guide the company through its IPO process.