Category Archives: Business

EBG Group Opens India’s FIRST Daewoo Experience Store, Bringing the South Korean Appliances Closer to Indian Consumers

Mumbai / New Delhi, July 30: Taking a major step in redefining the premium consumer appliances retail experience in India, EBG Group today launched India’s flagship Daewoo Experience Store in Ghaziabad. The state-of-the-art showroom marks the beginning of Daewoo’s next phase of growth in the country, bringing the iconic South Korean brand’s legacy of innovation, technology, and reliability closer to Indian consumers. Spread across 3,200 sq. ft., the flagship store was inaugurated by renowned Indian actor Murali Sharma in the presence of Mr Chan Ryu and Mr Sangwan Oh, representatives from POSCO International, senior leadership from EBG Group, industry partners, dealers, and customers.

Located at Indirapuram, Ghaziabad UP, the store has been designed as an immersive retail destination, offering consumers an opportunity to experience Daewoo’s extensive portfolio of major home and kitchen appliances under one roof. The showroom features a comprehensive range of products, including refrigerators, washing machines, air conditioners, dishwashers, microwave ovens, televisions, kitchen appliances, and other consumer electronics, combining Korean technology, innovative design, and dependable performance.

The store enables customers to experience with products through live demonstrations, personalised consultations, and dedicated after-sales support, reflecting EBG Group’s vision of creating a seamless and customer-centric retail ecosystem for Indian consumers.

Speaking at the launch, Dr. Irfan Khan, Founder, EBG Group, said “The opening of India’s first Daewoo Experience Store marks an important milestone in our journey to build Daewoo into one of India’s most trusted major consumer appliance brands. We are delighted to bring the legacy, innovation, and technology of this iconic South Korean brand closer to Indian consumers through an immersive retail experience. This store reflects our long-term commitment to strengthening Daewoo’s presence in India while delivering world-class products and superior customer experiences.”

The launch builds on EBG Group’s strategic brand licensing agreement with POSCO International for Daewoo’s Major Domestic Appliances business in India. Under the partnership, EBG Group is spearheading the brand’s development, manufacturing, distribution, and retail expansion across the country, bringing Daewoo’s global legacy and Korean technology closer to Indian consumers.

As part of its long-term growth strategy, EBG Group has committed an investment of ₹150 crore towards product development, retail expansion, strengthening distribution networks, localisation initiatives, and the introduction of new appliance categories tailored to the evolving needs of Indian consumers.

The Delhi store marks the first step in EBG Group’s ambitious retail expansion plans for Daewoo. The company intends to establish a network of approximately 100 Daewoo Experience Stores across India by 2027, supported by a robust omnichannel ecosystem that includes company-operated outlets, direct-to-consumer platforms, e-commerce marketplaces, quick commerce channels, general trade outlets, and leading electronics retail partners.

Aligned with the Government of India’s Make in India vision, the products will be assembled by EBG in India under Daewoo licence using imported components, with localisation levels expected to increase progressively over time. The initiative is aimed at strengthening domestic manufacturing capabilities while generating employment opportunities across manufacturing, retail, distribution, logistics, and after-sales services. Further, EBG Group also plans to introduce DAEWOO One, an integrated smart home ecosystem that will seamlessly connect multiple appliances through AI and IoT-enabled technologies. The company will continue expanding Daewoo’s portfolio of energy-efficient products, delivering smarter, more connected, and more sustainable living solutions for Indian consumers.

Osho Dham Marks Guru Purnima with Meditation, Music and the Inauguration of Ma Anand Bhakti’s Meditative Art Exhibition

New Delhi, July 30: Osho Dham celebrated Guru Purnima with an afternoon of meditation, music, satsang and spiritual reflection on Wednesday, July 29th, 2026, at its campus on Jhatikra Road, near Najafgarh, New Delhi. The celebration brought together seekers, meditation practitioners and art lovers to honour the timeless presence of the Guru through silence, awareness and creativity.

A special highlight of the celebration was the inauguration of Ma Anand Bhakti’s exhibition featuring 18 mandalas and abstract paintings. The exhibition was inaugurated by Ma Dharm Jyoti and Swami Chaitanya Keerti, both long-time disciples of Osho, in the presence of devotees and invited guests.

Guru Purnima, traditionally observed as a day of gratitude towards the Guru, was celebrated at Osho Dham in the true spirit of Osho‘s teachings. The programme featured meditation sessions, satsang, music and an Osho discourse, encouraging participants to experience inner stillness and awareness rather than ritualistic observance.

The newly inaugurated exhibition beautifully complemented the day’s celebrations. Created as meditative offerings, Ma Anand Bhakti’s paintings reflected stillness, surrender and devotion, extending the essence of meditation into the visual arts. Through intricate mandalas and intuitive abstract compositions, the exhibition invited visitors to pause, reflect and reconnect with themselves.

Speaking about her artistic journey, Ma Anand Bhakti said, “For me, art is not something to be created. It is something to be received. When the mind becomes quiet, there is nothing left to plan or control. I simply become available, and whatever wishes to emerge finds its own way onto the canvas.”

Her journey into mandala art began four years ago with a single dot on paper and gradually evolved into deeply meditative works shaped by patience, awareness and surrender. Inspired by Osho‘s teachings, her creative process has become an expression of meditation, where art emerges naturally from silence rather than conscious planning.

Addressing the gathering, Ma Dharm Jyoti said, “Guru Purnima is a day to remember the Master with gratitude and to reconnect with ourselves. Ma Anand Bhakti’s paintings have emerged from meditation and surrender, and beautifully reflect the silence and awareness that Osho encouraged us to discover within.”

Swami Chaitanya Keerti added, “Art has the power to become a meditation when it arises from silence rather than the mind. Ma Anand Bhakti’s paintings are a reflection of that journey. It is fitting that this exhibition opens on Guru Purnima, a day that celebrates the Master’s presence and the transformation that happens through awareness.”

Speaking on the occasion, Swami Atul Anand, Managing Trustee of Osho World Foundation and Caretaker of Osho Dham, said, “Guru Purnima is a beautiful opportunity to pause, remember the Master and turn inwards. It was heartening to witness seekers from different walks of life coming together to meditate, celebrate and experience the joy of being present. Ma Anand Bhakti’s meditative art exhibition added a unique dimension to this year’s celebration, reflecting Osho‘s vision where meditation finds expression not only in silence but also in creativity, awareness and everyday life.”

The celebration concluded with participants spending time at the exhibition, engaging in meditation and reflecting on Osho‘s teachings, making Guru Purnima 2026 a memorable occasion of gratitude, creativity and inner transformation.

Ma Anand Bhakti’s meditative art exhibition will remain open to visitors at Osho Dham until August 30, 2026, offering an opportunity to experience the collection of 18 mandalas and abstract paintings inspired by meditation, silence and awareness.

Villa Swagatam Announces 35 Participants for Its 4th Indo-French Residency Programme

 Detail of artwork of Ayantika Sajwal

India, July 30: The French Institute in India is pleased to announce the selection of 35 laureates for the fourth edition of its flagship residency programme, Villa Swagatam, which will unfold from August 2026 to August 2027. Bringing together artists, designers, authors, graphic novelists, translators and researchers from France and South Asia, the programme fosters cross-cultural dialogue and creative collaboration through our immersive residencies of one to three months across a network of 30 residency partners in India, Bangladesh, Sri Lanka, Bhutan and France.

The fourth edition of Villa Swagatam takes place within the framework of the India–France Year of Innovation 2026, embracing innovation not simply as a theme, but as a method. Expanding into new geographical, artistic, material and intellectual territories, our residencies encourage mobility, interdisciplinarity and experimentation, while creating fresh opportunities for dialogue between cultural ecosystems across France and South Asia.

Commenting on the launch of this new edition, H.E. Mr Thierry Mathou, Ambassador of France to India, said: “Villa Swagatam has become a remarkable laboratory for Indo-French cultural cooperation and innovation. Each residency creates conditions for artists, writers and thinkers that are conducive to experimentation, unexpected encounters, and imagination of new forms of collaboration. These cultural Passeurs are weaving lasting connections between our two countries, enriching our creative landscapes and giving new depth to the friendship between France and South Asia.”

The open call for the fourth edition of Villa Swagatam ran from 17 April to 7 June 2026, inviting candidates from France and India to apply. The programme received 540 individual applications in total. 

A striking observation from this year’s open call has been the remarkable interest shown by the Indian diaspora in Villa Swagatam. While these artists and authors have built international careers and developed their practices across continents, many remain profoundly connected to India, drawing on its histories, aesthetics and cultural traditions as enduring sources of inspiration. Contemporary dancer and choreographer Aishwarya Raut embodies this transnational dialogue. During her residency at the Centre National de la Danse in Pantin, she will develop a new choreographic work rooted in Indian movement vocabularies, using the time and space of the residency to deepen a practice that, despite its international trajectory, remains intrinsically connected to India In the same vein, multidisciplinary artiste Kirti Virmani, who is based in London, will be in residency with Fondation La Napoule’s international collective residency. 

Detail of artwork of Erika Povilonyte

EXPANDING THE CREATIVE HORIZONS 

Crafting new futures: Building on the momentum of the Indo-French textile exhibition Ce qui se trame, presented at the Mobilier National in Paris in December 2025, Villa Swagatam continues to expand its commitment to artistic practices rooted in craftsmanship, material research and sustainability.

For this edition, Kaanchi Chopra will join the Manufactures Nationales, while Gargi Chandola will undertake a residency at the Fondation Thalie in Arles. Through their distinct practices, both artists share a deep engagement with traditional knowledge systems and ecological thinking. Kaanchi Chopra works with wool as a material for artistic expression, exploring its tactile and narrative potential, while Gargi draws on the rich tradition of Indian miniature painting, staging with her characters our contemporary relationship to nature. During their time in France, both artists seek to place their practices in dialogue with new material cultures, artisanal expertise and sustainability. 

Villa Swagatam is also broadening its exploration of craftsmanship in Kishangarh, India: StoneX Global will welcome artists Sophia Taillet and Vincent Voillat, whose distinct practices will engage with the region’s centuries-old traditions of marble and stone craftsmanship, while drawing on StoneX Global’s exceptional technical expertise and extensive repertoire of possibilities for working with these materials. 

Graphic novelist Debangshu Moulik 

One of France’s leading contemporary art institutions, macLYON will welcome the young and promising Indian ceramist Ayantika Sajwal who recently graduated from the Maharaja Sayajirao University, Baroda, to experiment with clay as both a sculptural medium and a repository of artisanal knowledge in the rich geological context of Lyon, making this her first international residency experience outside of India. 

Marilou Laneuville, Head of Exhibitions and Publications at macLYON, affirms: “At macLYON, supporting young artists and emerging talents at pivotal moments in their careers is central to our mission. Residencies such as this one offer not only the time and space to experiment, but also the opportunity to enter into dialogue with new artistic, cultural and material contexts. We are delighted to welcome Ayantika and look forward to seeing how her encounter with France’s ceramic traditions and our ecosystem will enrich her practice and give rise to new forms of artistic expression.”

The Graphic Novel takes centre stage:Graphic storytelling emerges as one of the defining threads of this fourth edition, reflecting the remarkable vitality of the medium in both France and India. French graphic novelist Pierre Dawance will kickstart the upcoming edition with a residency at VAST Bhutan, drawing inspiration from the country’s landscapes, architecture and living cultural traditions to develop a new body of graphic work and storytelling. In France, Debangshu Moulik, will undertake his residency at Villa Gillet × Lyon BD (Lyon), where he will also participate in the Lyon BD festival as well as the Littérature Live Lyon. 

At the same time, the Maison des auteurs of the Cité internationale de la bande dessinée et de l’image will host Indian graphic novelists Mia Jose and Charbak Dipta for a residency in Angoulême. Immersed in one of Europe’s leading centres for comics and graphic storytelling, they will have the opportunity to develop their projects while engaging with the vibrant creative ecosystem that has made Angoulême an international reference for the ninth art.

Finally, graphic novelist Vidyun Sabhaney will be heading to La Marelle in Marseille, where she will develop a new graphic novel project rooted in speculative fiction and exploring the realities and imaginaries of climate change.

Fanny Pomarède, General Director of La Marelle, comments: “It is a great pleasure to welcome Vidyun Sabhaney to La Marelle as part of Villa Swagatam. Following Parismita Singh’s residency in the previous edition, we are especially delighted to continue supporting the work of women graphic novelists from India whose practices are expanding the possibilities of the form. These residencies create a space where different visual languages, storytelling traditions and creative imaginations can meet. Vidyun’s work, at the crossroads of speculative fiction and ecological reflection, promises to open up a particularly rich and meaningful dialogue between our creative communities.”

Ideas and debates at the foreground of Villa Swagatam:This year, Villa Swagatam also reaffirms its commitment to critical thinking about contemporary social, ecological and cultural challenges. Artist, curator and researcher Aastha Chauhan will join the Institut d’études avancées de Nantes, where she will explore how artistic initiatives are shaped by, and in turn shape, the communities they engage with. Meanwhile, acclaimed novelist Shubhangi Swarup will become the first Villa Swagatam resident in La Réunion, undertaking a residency with LERKA and Banyan – Centre d’art contemporain de la Cité des Arts de la Réunion. Her project will investigate the intertwined ecological histories of the Indian Ocean, tracing connections between La Réunion and the Indian subcontinent through literature.

Laureates 2026 – 2027:

The Villa Swagatam network consists of 30 residences across France and South Asia: 

Residencies in South Asia : 

• Alice Boner Institute (Varanasi) – Olivier Liron, author

• Alice Boner Institute (Varanasi) – Marina Chiche, author and musician

• Eklavya Foundation (Bhopal) – Cheyenne Olivier, illustrator

• Sangam House (Bengaluru) – Paul Greveillac, author

• Lakmahal Library (Colombo) – Frank Smith, poet

• VAST (Thimphu & Punakha) – Pierre Dawance, graphic novelist

• Itinerant Residency (India) – Atiq Rahimi, author

• Red House (New Delhi) – Sarah Maeght, author and playwright

• Cosmos Foundation (Dhaka) – Saena Delacroix, calligrapher 

• Hampi Art Labs (Hampi) – Kelly Eng and Marie Piplard (Studio EngPiplard), designers 

• Jaipur Rugs (Jaipur) – Colombine Jubert & Laëtitia Rouget (Pangea), artists and designers

• Kalhath Institute (Lucknow) – Martin Schepkens & Manuel Leromain, artist and designer 

• Nila House (Jaipur) – Erika Povilonyté, artist

• Public Arts Trust of India (Jodhpur) – Jérémy Demester, artist

• Vastrakala (Chennai) – Naomi Lulendo, artist 

• StoneX Global (Kishangarh) – Sophia Taillet, artist and designer

• StoneX Global (Kishangarh) – Vincent Voillat, artist

Residencies in France : 

• La Maison de la Poésie de Nantes (Nantes) – Jonaki Ray, poet

• Cité internationale de la bande dessinée et de l’image (Angoulême) – Mia Jose, graphic novelist

• Cité internationale de la bande dessinée et de l’image (Angoulême) – Charbak Dipta, graphic novelist

• La Maison Julien Gracq (Saint-Florent-le-Vieil) – Khalid Jawed, author

• La Marelle (Marseille) – Vidyun Sabhaney, graphic novelist

• Villa Gillet × Lyon BD (Lyon) – Debangshu Moulik, graphic novelist

• Chalet Mauriac × Villa Valmont (Nouvelle-Aquitaine) – Vasumathi Badrinathan, translator

• Institut d’études avancées de Nantes (Nantes) – Aastha Chauhan, artist, educator and curator

• LERKA × Banyan – Centre de l’art contemporain (La Réunion) – Shubhangi Swarup, author

• Centre National de la Danse (Pantin) – Aishwarya Raut, contemporary dancer and choreographer

• La Napoule Art Foundation (Mandelieu-la-Napoule) – Kirti Virmani, artist

• Art Scribes Award × Prameya Art Foundation (Mandelieu-la-Napoule) – to be confirmed soon 

• Manufactures Nationales (Paris & Sèvres) – Kaanchi Chopra, artist 

• Fondation Thalie (Arles) – Gargi Chandola, artist

• macLYON (Lyon) – Ayantika Sajwal, artist

FCL Launches Face Lift Matrix and Neck Firming Complex

Gurugram, July 30: FCL, the premium dermatologist-approved cosmeceutical brand from Fixderma, has expanded its advanced anti-ageing portfolio with the launch of Face Lift Matrix and Neck Firming Complex. Developed using clinically backed ingredients and dermatological expertise, the two formulations are designed to address visible signs of ageing, including loss of firmness, reduced elasticity and fine lines, while delivering specialised care for the face, jawline and neck.

As consumers become increasingly informed about skincare ingredients and preventive skin health, the conversation around ageing is evolving from correcting wrinkles to preserving skin quality, collagen health and elasticity. While facial skincare has advanced significantly, the neck and jawline remain among the most neglected areas despite being the first to show visible signs of ageing. Responding to this growing need, FCL’s latest innovations deliver targeted, science-backed solutions that support healthier, firmer and more resilient skin.

“The conversation around ageing is evolving. Today’s consumers are no longer chasing products that simply promise younger-looking skin, they want formulations that preserve skin quality, build resilience and deliver measurable results. At FCL, every innovation begins with understanding how the skin functions and what it truly needs at different stages of life. Face Lift Matrix and Neck Firming Complex address one of the most overlooked concerns in skincare, the gradual loss of firmness across the face, jawline and neck. By combining clinically proven actives with targeted delivery systems, we support collagen, strengthen the skin barrier and deliver healthier, firmer, more resilient skin.” – Shaily Mehrotra, CEO & Co-Founder, Fixderma & FCL

Face Lift Matrix

A high-performance anti-ageing cream developed to visibly improve skin firmness, elasticity and facial contours. Powered by advanced active ingredients, the formulation helps support collagen production, reduce the appearance of fine lines and wrinkles and improve overall skin texture while providing long-lasting hydration. Lightweight yet nourishing, it strengthens the skin barrier and leaves the skin looking smoother, firmer and revitalised.

Key Benefits

• Accelerates skin rejuvenation

• Enhances skin radiance

• Improves skin firmness & elasticity

• Reduces the appearance of fine lines & wrinkles

• Provides deep hydration

• Promotes overall skin remodelling

Experience the Legacy of Max Verstappen and Daniel Ricciardo at The Bay, Ecoworld with Oracle Red Bull Racing RB14 Display and Immersive Gaming Activations

Bengaluru, July 30: The Bay, Ecoworld brought the thrill of Formula 1 and motorsport-inspired gaming to Bengaluru through a series of immersive Red Bull experiences, giving employees a unique opportunity to witness an iconic Formula 1 car up close and test their racing skills in a state-of-the-art gaming environment.

The celebrations were headlined by the Oracle Red Bull Racing RB14 Formula 1 Static Car Display, which brought a replica of the iconic Oracle Red Bull Racing RB14 Formula 1 car to Bengaluru for the first time. Employees and visitors had a rare opportunity to experience the excitement of Formula 1 up close while learning about the RB14, the car raced by Formula 1 stars Max Verstappen and Daniel Ricciardo during the 2018 Formula One season.

The Bay, Ecoworld also hosted the Red Bull Gaming Ground, a two-day activation featuring a first-of-its-kind large-scale portable gaming lounge equipped with state-of-the-art racing simulators and PlayStation 5 gaming stations. Visitors participated in thrilling racing challenges, competed with colleagues for the fastest lap times and enjoyed an interactive gaming experience designed to recreate the intensity and adrenaline of motorsport.

Together, the two experiences reflected The Bay, Ecoworld‘s commitment to curating engaging lifestyle experiences that go beyond the workplace. By bringing together an iconic Formula 1 showcase, interactive gaming and cutting-edge racing simulators, the destination created memorable moments while reinforcing its position as a vibrant hub for community engagement, entertainment and experiential activations.

The Bay is an experiential F&B district located at Ecoworld, a marquee mixed-use development in Bengaluru managed by BGRE, a leading global developer and operator of high-quality real estate assets.

India Maintains Strong Economic Momentum as Global Uncertainties Persist

New Delhi, July 30: India’s economy continues to show resilience despite challenges in the global environment, according to the latest Finance Ministry report. The assessment highlights that strong domestic demand, steady investment, and ongoing policy support are helping the country maintain its growth momentum.

The report noted that while factors such as geopolitical tensions, global market fluctuations, and economic uncertainties remain areas of concern, India’s underlying economic fundamentals continue to provide stability. Key sectors, including manufacturing, services, infrastructure, and digital growth, are contributing to overall economic expansion.

The government has emphasized that continued reforms, improved business conditions, and investments in infrastructure will play an important role in sustaining long-term growth. Strong consumer activity and increasing private sector participation are also supporting the economy’s recovery and expansion.

The Finance Ministry said India remains focused on strengthening economic stability, encouraging innovation, and creating opportunities for inclusive growth. Despite external challenges, the country’s growth outlook remains positive, supported by its strong domestic foundation and reform-driven approach.

As global conditions continue to evolve, India is expected to maintain its focus on sustainable development and building a stronger, more resilient economy.

Flat June PCE forecast masks persistent U.S. services inflation, Truflation finds

Core PCE is forecast at 3.3% year-on-year, supporting a cautious, higher-for-longer Federal Reserve outlook

ZURICH, July 30 – Truflation, the independent, real-time economic data provider,  released its June U.S. Personal Consumption Expenditures Price Index (PCE) forecast, projecting flat headline inflation of 0.0% month-on-month and 3.7% year-on-year.

Key findings from Truflation’s June forecast include:

• Core inflation remained elevated: Core PCE, which excludes food and energy, is forecast to rise 0.2% month-on-month and 3.3% year-on-year, indicating that underlying inflationary pressures remain persistent.

• Services continued to drive underlying pressure: Healthcare and transportation costs rose during June, with transportation services recording the strongest monthly increase among the major categories tracked.

• Energy relief may prove temporary: Gasoline and energy goods prices fell 7.3% month-on-month, but renewed geopolitical tensions continue to pose upside risks to oil and gas prices.

Lower gasoline prices helped contain headline inflation during June as crude prices retreated and pump prices declined for five consecutive weeks following May’s increase.

Services inflation, however, remained resilient. Healthcare prices rose 0.26% month-on-month and 4.16% year-on-year, reflecting continued pressure from insurance, labor, and prescription drug costs. Transportation services increased 0.84% month-on-month and 11.0% year-on-year as airlines, transit systems, and ride-hailing platforms continued to pass through higher operating costs.

Softer prices in food services and accommodation, as well as furnishings and durable goods, provided some offset. Clothing and footwear prices were broadly unchanged on the month but remained 4.97% higher year-on-year as earlier tariff increases and higher import costs continued to feed through into retail pricing.

“The flat headline should not distract from the persistence of underlying inflation,” said Oliver Rust, Head of Data at Truflation. “Core inflation remains well above target, while healthcare and transportation services continue to place pressure on household costs. While this supports the case for the Federal Reserve to keep rates unchanged for now and maintain a higher-for-longer approach, any renewed energy pressures or a material upside inflation surprise could still bring further tightening back into consideration.”

Truflation’s PCE forecast draws on more than 15 million live price points that are updated daily from over 30 commercial and public data sources, using daily market-price data to provide an up-to-date view of inflation trends ahead of the official monthly release.

Employee Reserved Portion Sees Strong Response, subscribed 89 percent on Day 1; Manipal Health Enterprises IPO Subscribed 15 percent

Mumbai, July 30: The Initial Public Offering (IPO) of Manipal Health Enterprises Limited was subscribed 0.15 times on the first day of bidding, with participation from retail, qualified institutional buyers (QIBs), non-institutional investors and employees.

The issue received bids for 1,30,96,350 equity shares against 9,00,88,286 equity shares on offer, according to data available on the stock exchanges.

The Retail Individual Investors (RII) portion was subscribed 0.25 times, the Non-Institutional Investors (NII) portion 0.07 times, the Qualified Institutional Buyers (QIBs) portion 0.14 times, and the Employee Reserved portion 0.89 times.

The issue kicked off for subscription on Wednesday, July 29, 2026, and will close for subscription on Friday, July 31, 2026.

A day before the opening of the issue, Manipal Health Enterprises Limited had raised Rs 4,167 crore from anchor investors. The anchor book witnessed participation from several marquee global institutional investors, including Abu Dhabi Investment Authority – Stable, Templeton Emerging Markets Fund and Allianz Global Investors Fund – Allianz India Equity, amongst others.

Brokerage houses recommend Manipal Health Enterprises

Leading brokerage firms like Anand Rathi, BP Wealth, Canara Bank Securities, ICICI Securities and SBI Securities have given their “Subscribe” recommendation to Manipal Health Enterprises Limited 

Anand Rathi highlights the company is the largest pan-India multispecialty hospital network by bed capacity and the second-largest hospital chain by number of hospitals as of March 31, 2026.

On the valuation front, at the upper price band, company is valued at a PE of 85.4 to its FY26 earnings with market cap of Rs 7,76,056 million post issue of equity shares. Recommend a “SUBSCRIBE” rating for the long-term. 

SBI Securities highlights the company delivers a comprehensive range of healthcare services which includes outpatient services to complex tertiary and quaternary interventions.

On the valuation front, at the upper price band of Rs 590, the issue is valued at an EV/EBITDA of 29.4 times based on FY26 Proforma earnings on a post-issue basis, which is fairly valued against industry peers. Recommend a “SUBSCRIBE” rating for the long-term.

IPO Details:

The IPO is a fresh issue of up to Rs 8,000 crore, and an offer-for-sale of up to 21,613,834 equity shares by promoters – Imperius Healthcare Investments Pte. Ltd, and Manipal Education and Medical Group India Private Limited.

Investors selling shares include TPG SG Magazine Pte. Ltd, Seventy Second Investment Company LLC, Ammar Sdn Bhd, Novo Holdings Invest Asia A/S and Phoenix Bear Investments, LLC.

The proceeds from its fresh issuance worth Rs 5,552.7 crore will be utilised for repayment/ prepayment, in full or in part, of certain outstanding borrowings and accrued interest thereon availed by one of the company’s material subsidiaries, Manipal Hospitals Private Limited, Rs 574 crore for acquisition of minority stake in the company’s step-down subsidiary, Sahyadri Hospitals Private Limited, and general corporate purposes.

Investors can bid for a minimum of 25 Equity Shares and in multiples of 25 Equity Shares thereafter. 

Company Information

The company operates a pan-India network of multispecialty hospitals delivering a comprehensive range of care services—from outpatient services to complex tertiary and quaternary interventions. As of March 31, 2026, the company operated 49 hospitals with 13,037 licensed beds across 14 states and union territories.

The company has the widest footprint in terms of presence of hospitals among private hospital chains in India as of March 31, 2026 (Source: CRISIL Report). It is the largest pan-India multispecialty hospital network by bed capacity and the second-largest hospital chain by number of hospitals as of March 31, 2026 (Source: CRISIL Report).

For Fiscal 2026, the company reported the second-highest revenue from operations of ₹103,297.51 million (₹109,336.34 million on a pro forma basis) among private hospital chains in India (Source: CRISIL Report).

In its three key regions of Karnataka, Maharashtra and Goa and West Bengal, Odisha, Jharkhand, and Sikkim, the company had 6,404, 2,188 and 2,887 licensed beds, respectively, as of March 31, 2026.

One Destination for the Industry: JAPAN BUILD Tokyo 2026 Unites 11 Key Sectors Under One Roof

Markets Open on a Cautious Note as IT and Pharma Stocks Offset Banking Weakness

Mumbai, July 30: Indian equity markets started Thursday’s trading session on a cautious note, with gains in the IT and pharmaceutical sectors helping offset weakness in banking and real estate stocks. Investors remained watchful as sector-specific factors influenced market movement.

The BSE Sensex opened marginally lower by 15.74 points at 77,638.86, while the NSE Nifty 50 slipped 0.65 points to 24,249.55, reflecting a largely stable but cautious market sentiment.

The banking sector witnessed pressure during early trade, impacting the broader market performance. Weakness in banking stocks was attributed to concerns over near-term earnings growth, cautious investor sentiment, and profit booking after recent gains in the sector. Expectations around lending growth, asset quality trends, and interest rate movements also influenced investor decisions.

Meanwhile, IT and pharmaceutical stocks provided support to the market, with investors showing interest in sectors considered relatively stable amid changing market conditions. Technology stocks benefited from positive outlook around digital demand, while pharma shares remained supported by defensive buying.

Realty stocks also faced selling pressure as investors assessed interest rate trends, demand outlook, and sector-specific challenges.

Market experts said the opening trend reflects a phase of sector rotation, where investors are shifting focus between growth-oriented and defensive sectors based on economic indicators and corporate performance.

Going ahead, market direction is expected to depend on global cues, upcoming corporate results, economic data, and developments across key sectors. Investors are likely to remain selective, focusing on companies with strong fundamentals and sustainable growth prospects.