Mumbai: India’s Maxivision Super Specialty Eye Hospitals, backed by healthcare-focused buyout firm Quadria Capital, has appointed ICICI Securities and IIFL Capital as bankers for a planned 2027 initial public offering, two people familiar with the matter said.
Founded in 1996, Maxivision operates more than 90 eye-care centres across six states. It competes with chains including Dr. Agarwal’s Health Care, Centre for Sight and ASG Eye Hospitals in a fast-growing market driven by an ageing population, rising diabetes rates and broader health insurance coverage.
India’s eye-care market is projected to grow to $31.2 billion by 2033 from $12.8 billion in 2025, according to Grand View Research.
The Hyderabad-based company is in the early stages of preparing for the IPO, which will include a mix of newly-issued shares and stock sold by existing investors, the sources said.
The size of the IPO has not yet been finalised, they added, requesting anonymity because the talks are private.
Maxivision declined to comment, while ICICI Securities, IIFL Capital and Quadria Capital did not immediately respond to Reuters’ queries.
Maxivision’s listing plans come amid growing dealmaking and capital markets activity in India’s healthcare sector.
Last month, Reuters reported that KKR was in advanced talks to acquire a majority stake in Sweden-based Medicover’s Indian business for at least $1 billion. Earlier this year, Manipal Health Enterprises filed for an IPO that could raise up to $1.17 billion.
