Maxivision Super Specialty Eye Hospitals, an Indian eye-care chain supported by healthcare-focused investment firm Quadria Capital, has brought on ICICI Securities and IIFL Capital to help prepare for a planned initial public offering in 2027, according to two people with knowledge of the situation.
The company, which was founded in 1996 and is headquartered in Hyderabad, currently operates more than 90 eye-care facilities spread across six Indian states. It operates in a competitive space alongside other eye-care chains such as Dr. Agarwal’s Health Care, Centre for Sight, and ASG Eye Hospitals.
Demand for eye care in India is being fueled by an aging population, increasing rates of diabetes, and expanding health insurance access. According to data from Grand View Research, the Indian eye-care market is expected to climb from $12.8 billion in 2025 to $31.2 billion by 2033.
Sources say Maxivision is still in the early phases of its IPO preparations. The offering is expected to include a combination of newly issued shares and existing shares being sold by current investors. The final size of the offering has not been set, the sources noted, speaking on condition of anonymity given the private nature of the discussions.
Maxivision did not offer a comment on the matter, and ICICI Securities, IIFL Capital, and Quadria Capital had not responded to requests for comment at the time of publication.
The move comes as India’s healthcare sector sees a surge in investment and capital markets activity. Reuters previously reported that KKR is in advanced discussions to purchase a controlling stake in the Indian operations of Sweden-based Medicover for at least $1 billion. Additionally, Manipal Health Enterprises earlier this year submitted paperwork for an IPO that could bring in as much as $1.17 billion.
