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The six-decade old mattress maker files its draft IPO papers just as Wakefit wins approval for a public market debut—setting up a bruising battle for the No. 2 spot.

A public listing will help clean up the hospital chain’s balance sheet after the costly Sahyadri acquisition. But depressed metrics, integration risks and lofty valuations make this far from a clean turnaround story.
Many of its 186,000 eligible shareholders are unlikely to sell their stock in the upcoming offer-for-sale—opting to resist formal price discovery and wait it out instead.
The country’s top VC funds are flush with new fundraises. They must now find opportunities to invest, but that’s easier said than done.