Indira IVF looks to revive IPO plans to raise ₹3500 crore: Report
The company, backed by private equity firm EQT AB, plans to submit the so-called draft red herring prospectus later this month, according to the people, who asked not to be identified discussing a private matter. The deal won't involve the issue of new stock as existing shareholders will be selling their holdings, the people said.
EQT will probably offload 29 billion rupees of shares in the offering, and three members of the founding family — Ajay Murdia, Kshitiz Murdia and Nitiz Murdia — will each sell shares worth 2 billion rupees, the people said.
A spokesperson of the company didn't immediately respond to an email seeking comment.
The company had initially submitted a draft prospectus in February but withdrew it in March. The withdrawal came as the IPO plans coincided with the release of a Bollywood biopic based on the company's founder, which drew concerns from the Securities and Exchange Board of India, according to the Economic Times.
Founded in 2011, Indira IVF operates more than 155 fertility centers and works with 315 IVF specialists across India as of September 2024, according to a previously filed preliminary prospectus.
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