Everstone-backed Integris Medtech slashes fresh issue size to Rs.600-Cr

Noida-based Integris Medtech , a medical technology platform backed by the private equity firm Everstone Capital, has reduced the size of the fresh issue component of the proposed initial public offering (IPO) to INR 600 crore from the previously planned INR 925 crore.Additionally, the offer for sale (OFS) component has been halved to 1.08 crore shares from 2.16 crore shares. Evercure Holdings Pte Ltd will participate in the OFS, while the co-founders, Gurmit Singh Chugh and Punita Sharma, will retain their existing shareholdings. The IPO launch is anticipated between late October and early November.Integris Medtech manufactures and sells a portfolio of medical devices and solutions, including cardiovascular devices, clinical diagnostics, and scientific laboratory solutions. The company operates manufacturing facilities across India, Germany, and the Netherlands. It plans to use about INR 509.85 crore of the fresh issue proceeds to repay borrowings across its wholly owned and step-down subsidiaries.