Integris Medtech, a Medtech company backed by Everstone Capital, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company’s IPO is a mix of fresh issue and offer for sale. 

According to the DRHP documents, Integris Medtech is seeking to raise Rs 925 crore through the fresh issue of 21,674,531 equity shares of a face value of Rs 1 each. Furthermore, the company’s promoters are selling 21,674,531 equity shares of face value Rs 1 through an offer for sale. 

Among the promoter group, Evestone Capital is offloading the largest stake in the company. The private equity firm is selling  15,174,251 equity shares. Other promoters of the company are Gurmit Singh Chugh and Punita Sharma, who are selling 3,250,140 equity shares each through OFS. 

Furthermore, the company may consider a pre-IPO placement of Rs 185 Crores prior to filing the RHP with the ROC.  

Integris Medtech IPO objectives 

Integris Medtech stated in the DRHP documents that it plans to use the funds raised from the net proceeds to repay or prepay certain loans, along with any interest and prepayment charges amounting to Rs 696.39 crores taken by its wholly owned subsidiaries, as well as by its step-down subsidiaries. A portion of the funds will also be used for general corporate purposes.

Integris Medtech’s total income in FY25 stood at 1959 crore, growing 23.85 per cent on YoY as it was Rs 1582 crore in the preceding financial year. The company also reported a profit of Rs 70.6 crore in FY25, compared to a loss of Rs 4.8 crore in FY24. 

Integris Medtech business

Integris Medtech was founded by Gurmit Singh Chugh and Punita Sharma and received funding from Everstone Capital in 2019. The company primarily manufactures medical products and laboratory solutions, operating across two key global medtech segments: cardiovascular devices and laboratory solutions, which serve clinical, research, and industrial laboratories.  

The company states that it has operations in India, Europe, the Middle East, Latin America, and Africa, with five manufacturing facilities located in India, Germany, and the Netherlands, supplying products to over 65 international markets.