India's Manipal Health to spend $414.4 million to expand capacity

Manipal Health Enterprises plans to investRs 4,000 croreover the next 3–4 years to add2,400 hospital beds, expanding its capacity by over 18%, ahead of its IPO next week. The Temasek-backed hospital chain is also targeting a valuation of up to$8 billionand aims to becomenet debt-freeusing IPO proceeds.