Mumbai, Nov. 10 -- Temasek-backed hospitals chain Manipal Health Enterprises Ltd is looking to file its draft red herring prospectus with the capital markets regulator in December. The initial public offer (IPO) will see a mix of primary and secondary fundraising of more than $1 billion, making it one of the largest healthcare IPOs in the region.

The Ranjan Pai-founded firm is aiming for a valuation of around Rs.1 trillion to Rs.1.2 trillion, according to three people with direct knowledge of the company's plans. The final decision on the filing timeline, the quantum of the raise, and whether any long-term investor will be brought onto the cap table will be made at the company's board meeting to be held next week, these people said.

"Th...