In a defining move for India’s healthcare and finance landscape, Manipal Hospitals has locked in one of the largest acquisition financings the sector has ever seen, raising ₹5,310 crore through listed, rated, non-convertible debentures.
The funds, placed privately with global banking heavyweights including DBS Bank, Deutsche Bank, SMBC, MUFG Bank, and BNP Paribas, will power Manipal’s acquisition of Sahyadri Hospitals Private Limited.
More than just a deal between two hospital chains, the transaction sets a benchmark for India’s debt capital markets—demonstrating that they have the depth and muscle to back mega-ticket acquisitions without relying exclusively on foreign or equity-heavy structures.
The structuring and execution of the financing were steered by a dedicated team, ensuring seamless navigation across regulatory and market complexities. With this bold step, Manipal Hospitals cements its place as a leading force in Indian healthcare, while the financing itself is likely to be remembered as a watershed moment for the country’s debt market evolution.