Latham & Watkins Advises Manipal Health Enterprises on US$973 Million IPO

Latham & Watkins has advised Manipal Health Enterprises, the largest pan-India multispecialty hospital network by bed capacity and the second largest hospital chain by number, on its US$973 million (₹92,752.16 million) initial public offering (IPO) on the Bombay Stock Exchange (BSE) and National Stock Exchange of India Limited (NSE). The listing represents India’s largest-ever healthcare IPO, and the second largest IPO in India to date in 2026.

The Latham team was led by Singapore partner Rajiv Gupta and Hong Kong partner Dominik Sklenar, with associates Jirasin (Jay) Watanatornpitak and Margarita del Rosario. Advice was also provided on tax matters by Chicago partner Enrique Rene de Vera and New York partner Elena Romanova, with associate Jay Khurana.

About Manipal Health Enterprises

Manipal Health Enterprise operates 49 hospitals with 13,037 licensed beds across 14 states and union territories. It is the largest pan-India multispecialty hospital network by bed capacity and the second largest hospital chain by number of hospitals (as of March 31, 2026).

About Latham’s India Practice

With over 20 years of experience advising on Indian debt and equity capital markets transactions, Latham has one of the largest and most active India practices among international law firms. The multi award-winning practice comprises more than 50 lawyers globally, and the team has advised on India-related matters with a combined value in excess of US$100 billion since 2018.