Integris Medtech has filed draft papers for IPO. The company’s IPO could be worth Rs 3,500-4,000 crore. The company will issue new shares worth Rs 925 crore in the issue. Existing shareholders will sell 21.67 crore shares through Offer for Sale (OFS). The company may consider raising Rs 185 crore from pre-IPO placement before filing the final prospectus.
Major share in stent manufacturing market
Integris Medtech Of the money received from the IPO, it will use Rs 696.39 crore to repay the loan and the rest for general business needs. This IPO is coming at a time when the company has made its strong place as the second largest coronary stent manufacturer in the country. It has 22 percent market share in drug-eluting stents. It is the largest company offering scientific laboratory solutions in South Asia.
Everstone Capital had invested in 2019
Integris was started by Gurmeet Singh Chugh and Punita Sharma. Initially it used to manufacture cardiology products. Since then it has emerged as a medtech platform. Everstone Capital had invested in this company in 2019. Since then its growth accelerated. It has made several strategic acquisitions in Europe and Asia. So far it has made 17 acquisitions.
Supplies products to more than 65 countries
“Our build, partner and acquisition strategy is aimed at driving growth and penetration while filling technology gaps with a strong focus on innovation and strengthening service delivery,” Integris said in its draft red herring prospectus. The company has five manufacturing plants. These are in India, Germany and Netherlands. The company supplies 2,500 SKUs to more than 65 countries. It provides services to more than 2,000 hospitals.
Earned Rs 70 crore profit in FY25
The company had incurred a loss of Rs 4.8 crore in FY24. But, it earned a profit of Rs 70.6 crore in FY25. The company’s adjusted PAT in FY25 was Rs 103 crore. It was Rs 21.4 crore in FY24. More than 60 percent of the company’s revenue comes from international markets. This shows the company’s focus on the foreign market. ICICI Securities, Axis Capital, Citigroup Global Markets and IIFL are the book running lead managers to the issue.