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IPO

Healthium Medtech files draft papers to raise funds via IPO

Economic Times  

Healthium Medtech has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share-sale. The initial public offering (IPO) comprises fresh issuance of equity shares worth INR 390 crore and an offer-for-sale of 3.91 crore equity shares by existing shareholders and promoters. As a part of the offer-for-sale, Quinag Acquisition (FDI) Ltd will offload 3.9 crore equity shares and Mahadevan Narayanomani will sell 1 lakh shares. Proceeds from the fresh issue to the tune of INR 50.09 crore will be used to repay debt, INR 179.46 crore will be invested into its subsidiaries Sironix, Clinisupplies and Quality Needles and INR 58 crore will be used for acquisition and other strategic initiatives. ICICI Securities, CLSA India, Credit Suisse Securities India and Nomura Financial Advisory and Securities India are the lead managers to the issue. Healthium Medtech is focused on products used in surgical, post-surgical and chronic care. For the financial year ended March 31, 2021, the company posted a profit of INR 85.43 crore compared to INR 36.76 crore in the preceding fiscal, its total income increased to INR 726.75 crore during the period under review, from INR 652.38 crore in the preceding fiscal.

From the Venture Intelligence PE-VC Deal Database: In Apr-18, Apax Partners had invested USD 300 million in Healthium Medtech. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)