Manipal Health Enterprises is likely to launch its IPO as early as next month, targeting a valuation of around $10 billion. Backed by Temasek, the hospital chain has completed investor roadshows. The offering includes both fresh issue and stake sale, potentially becoming India’s first billion-dollar IPO this year.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.