Manipal Health Enterprises Ltd. is seeking to raise as much as 92.7 billion rupees ($960 million) in an initial public offering, continuing a run of sizable share sales in India.

The healthcare provider's planned IPO would rank among the largest in the country this year, reflecting sustained investor appetite for quality assets in the world's most populous nation. Manipal Health operates a network of hospitals across India and has been expanding its footprint through acquisitions and greenfield projects.

Bankers are finalizing the offer structure and timeline, with the company expected to file draft papers with the securities regulator shortly. Proceeds will likely fund debt reduction, capacity expansion, and potential acquisitions.

The offering follows a string of major listings in 2024, signaling confidence in India's capital markets despite global volatility. Manipal's scale and profitability make it a rare pure-play hospital chain available to public investors.