Integris Medtech Prepares for IPO: Aiming High with Stents
Integris Medtech, a medical technology firm, is gearing up for an IPO to raise Rs 3,500-4,000 crore. The draft prospectus reveals plans for a fresh issue and share sale. Funds are earmarked for debt repayment. The company operates globally with a diverse medical device portfolio.
- Country:
- India
Integris Medtech, a renowned player in the medical technology arena, is poised to enter the public equity markets with an initial public offering (IPO) projected to raise between Rs 3,500 crore and Rs 4,000 crore, insiders disclose. The company's move aims to secure a valuation estimated at Rs 11,000-13,000 crore.
The draft red herring prospectus (DRHP) submitted to the Securities and Exchange Board of India outlines the details, including Rs 925 crore from fresh equity issuance and a significant offer for the sale of 2.16 crore shares by promoters.
The equity raised is earmarked for debt reduction and corporate activities, with a pre-IPO placement up to Rs 185 crore under consideration. Strategic partners involved include ICICI Securities and Axis Capital, among others, to support this financial undertaking.
(With inputs from agencies.)
Google News