Companies

Healthium Medtech files draft papers with SEBI to raise funds via IPO

PTI New Delhi | Updated on September 07, 2021

Equity shares valued at ₹390 crore

Healthium Medtech has filed preliminary papers with capital markets regulator SEBI to mop-up funds through an initial share-sale.

The initial public offering (IPO) comprises fresh issuance of equity shares worth ₹390 crore and an offer-for-sale of 3.91 crore equity shares by existing shareholders and promoters, according to the draft red herring prospectus (DRHP).

As a part of the offer-for-sale, Quinag Acquisition (FDI) will offload 3.9 crore equity shares and Mahadevan Narayanomani will sell one lakh shares.

Proceeds from the fresh issue to the tune of ₹50.09 crore will be utilised to repay debt, ₹179.46 crore will be invested into its subsidiaries Sironix, Clinisupplies and Quality Needles and ₹58 crore will be used for acquisition and other strategic initiatives.

The company's promoter is ultimately owned by funds advised by Apax Partners LLP.

Healthium Medtech is a global medtech company focused on products used in surgical, post-surgical and chronic care. It operates across three key markets, India, the UK and rest of the world and four focus areas, namely, advanced surgery, urology, arthroscopy and wound care.

For the financial year ended March 31, 2021, the company posted a profit of ₹85.43 crore compared to ₹36.76 crore in the preceding fiscal, its total income increased to ₹726.75 crore during the period under review, from ₹652.38 crore in the preceding fiscal.

ICICI Securities, CLSA India, Credit Suisse Securities India and Nomura Financial Advisory and Securities India are lead managers to the issue.

Published on September 07, 2021

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