Integris Medtech files IPO papers with Sebi to garner ₹3,500-4,000 cr

According to the DRHP filed on Thursday, Integris Medtech's IPO comprises a fresh issue of equity worth ₹925 crore and an offer for sale of 2.16 crore equity shares by promoters

Integris Medtech, a diversified medical technology platform, has filed preliminary papers with markets regulator Sebi to raise funds through an initial public offering (IPO), with people familiar with the matter pegging the issue size between Rs 3,500 crore and Rs 4,000 crore.

With this, the company, which manufactures and distributes cardiac stents, is eyeing a valuation of Rs 11,000-13,000 crore, they added.

According to the draft red herring prospectus (DRHP) filed on Thursday, Integris Medtech's IPO comprises a fresh issue of equity worth Rs 925 crore and an offer for sale of 2.16 crore equity shares by promoters.

As part of the OFS, Evercure Holdings Pte Ltd, Gurmit Singh Chugh, and Punita Sharma will offload shares.

Proceeds of the fresh issue will primarily be used for payment of debt and general corporate purposes.

Backed by private equity player Everstone Capital, Integris Medtech may consider a pre-IPO placement for up to Rs 185 crore. If such placement is completed, the fresh issue size will be reduced.

Co-founded by Gurmit Singh Chugh and Punita Sharma, Integris Medtech has expertise in developing, manufacturing, commercialising and selling a broad and integrated portfolio of medical devices and solutions. Its portfolio includes cardiovascular devices, clinical diagnostics, and scientific laboratory solutions.

The company operates manufacturing facilities in India, Germany, and the Netherlands, and work with global manufacturers supporting a portfolio of medical devices and laboratory solutions sold in more than 65 countries as of June 30, 2025.

Integris Medtech’s total income grew 23.85% to ₹1,959.58 crore in FY25 from ₹1582.25 Crore in the previous year. Additionally, while the restated profit showed a positive turnaround from a ₹4.8 Crore loss in FY24 to ₹70.6 crore profit in FY25, the adjusted PAT stood at ₹103 crores in FY25 from Rs 21.4 crore in FY24.  To assist the public offering, ICICI Securities, Axis Capital, Citigroup Global Markets India and IIFL Capital Services have been appointed as merchant bankers.