Mumbai: Manipal Health Enterprises Pvt. is planning to file for a $1 billion initial public offering in January, according to people familiar with the matter, setting the stage for the biggest such listing by a hospital operator in India.

The company is targeting a valuation of as much as $13 billion, the people said, asking not to be identified because the information is private. The IPO will comprise a fresh issue of shares as well as an offer for sale by existing investors, they said, adding that final details may still change as discussions are ongoing.

The Bengaluru-based hospital chain is working with advisers including Kotak Mahindra Capital Co., Axis Bank Ltd ., and the local units of Goldman Sachs Group Inc., JPMorgan Chase & Co. and Jefferies Group LLC on the potential sa

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