CAM, Latham, Trilegal, JSA, SAM, Khaitan act on Manipal Hospitals ₹9,275 crore IPO

Manipal Health Enterprises Limited has made an initial public offering of equity shares aggregating to ₹9,275.216 crore, consisting of a fresh issue of ₹8,000 crore and an offer for sale aggregating to ₹1,275.216 crore.

Cyril Amarchand Mangaldas advised Manipal Hospitals on this IPO.

The core transaction team was led by Yash J Ashar (Senior Partner) and Janhavi Manohar (Partner), with support from Anjali Menon (Principal Associate), Bhaskar Kumar (Senior Associate Designate), Associates Tejaswi Sade, Parameswaran Chidamparam, Siddharth Kaushik, Namita Kaushik and Mohnish Khandale.

The general corporate team led by Reeba Chacko (Senior Partner) and Kota Chandan (Partner) advised on critical aspects of the transaction.

Swati Sharma (Partner, Head - Intellectual Property) also advised on specific aspects related to the transaction.

Latham & Watkins served as the international legal counsel for Manipal Hospitals on this IPO.

Trilegal advised the MEMG Group, including Dr. Ranjan Ramdas Pai, Manipal Global Health Services, MEMG International Ltd (promoters), and Manipal Education and Medical Group India Private Limited (promoter group selling shareholder), on this IPO. The Firm lso advised the MEMG Group on the closing of a share purchase agreement, amendment to the SHA, and other ancillary agreements in connection with the IPO; and nuances related to encumbrances from an IPO perspective, including release of the same to facilitate minimum promoter contribution and lock-in.

The Capital Markets Team is being led by Vijay Parthasarathi (Partner), with support from Associates Prajna Kariappa, Shashwat Raj Solanki, Jahnavi Jayasimha Rao, Vansh Dhoka, and Joseph George.

The Corporate Team is being led by Harsh Maggon (Partner) and Ankit Kejriwal (Partner), with support from Nehal Binani (Senior Associate) and Dhanush T. (Associate).

The Finance Team is led being by Kannan Rahul (Partner) and Vidhi Sarin (Partner), with support from Shreya Menon (Counsel).

JSA Advocates & Solicitors advised the Temasek Group (promoter) in this IPO.

The transaction is being led by Vikram Raghani (Lead Partner), Arka Mookherjee (Partner, Capital Markets) and Rishabh Gupta (Partner, Corporate).

They are supported by Siddharth Desai (Partner), Vaishnavi Vyas (Senior Associate), Associates Prateek Khandelwal and Ayushi Pandit, Pranjal Shorey and Ankita Iyer.

Shardul Amarchand Mangaldas & Co advised selling shareholder Seventy Second Investment Company LLC, an affiliate of Mubadala Investment Company, on this IPO. The Firm advised on the review, negotiation and finalisation of the transaction documentation.

The transaction team was led by Prashant Gupta (Partner and National Practice Head – Capital Markets) and Manjari Tyagi (Partner), with support from Jheel Bhargava (Senior Associate) and Bhumika Panigrahi (Associate).

Khaitan & Co advised the book running lead managers (Kotak Mahindra Capital Company Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited, J.P. Morgan India Private Limited, UBS Securities India Private Limited and DBS Bank India Limited) on this IPO.

The transaction team consisted of Abhimanyu Bhattacharya (Partner), Aditya Cheriyan (Partner), Chirayu Chandani (Partner), Suman Prabhu (Partner), Tishita Mukherjee (Principal Associate), Hrithik Khurana (Senior Associate), Shweta Sivaram (Senior Associate), Vanshika Chaudhry (Senior Associate), Pooja Agarwal (Senior Associate), Mainak Pal (Senior Associate), Associates Kaushlendra Palawat, Dharini Shanker, Dipsa Prasanth, Mainak Pani, Aayushi Poddar, Dhananjay Sreeram, Subah Sudhir Hindaria and Diya Amit Parik.

Manipal Hospitals is one of India's leading multi-speciality hospital chains, operating 38 hospitals across 19 cities. Manipal Hospitals offers world-class, comprehensive super-specialty care to patients, combining advanced medical facilities with skilled healthcare professionals.

The proceeds from the IPO will be primarily used for refinancing debts as well as further strategic expansions.

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