In the long arc of India's healthcare transformation, Manipal Health Enterprises steps toward the public markets — not merely as a financial event, but as a signal of how large-scale institutional medicine is maturing on the subcontinent. The Bengaluru-based network, which spans 49 hospitals and over 12,600 beds across 24 cities, opens its Rs 9,275 crore IPO on July 29, pricing shares between Rs 560 and Rs 590, with a market debut set for August 5. Behind the capital raise lies a quieter ambition: to shed debt, consolidate subsidiaries, and arrive at the next chapter of growth on firmer ground