India's securities regulator has granted final approval for the initial public offerings of Manipal Health Enterprises and RentoMojo, clearing the way for a combined capital raise of approximately ₹8,150 crore.
The decision removes the last major regulatory hurdle for both companies, allowing them to proceed with pricing and listing on Indian exchanges.
Manipal Health Enterprises, the healthcare arm of the Manipal Group, is the larger of the two deals, seeking to raise ₹8,000 crore through a fresh issue.
The listing is expected to be one of the largest healthcare IPOs in recent Indian market history, providing the group with significant capital to expand its hospital network and service offerings.
The approval comes after months of regulatory scrutiny, with SEBI having previously issued observations that the company addressed in its revised prospectus.
RentoMojo, the Bengaluru-based furniture and appliance rental startup, will raise ₹150 crore through a combination of a fresh issue and an offer-for-sale by existing investors and promoters.