Upcoming IPO alert! Influx Healthtech files DRHP with NSE Emerge; details

Upcoming IPO alert! Leading contract development and manufacturing company, Influx Healthtech, has filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge. The Mumbai-based company specialises in a diverse range of products across several segments, including dietary/nutraceutical supplements, cosmetics, ayurvedic/herbal, veterinary feed supplements, and homecare segments.

Influx Healthtech IPO details

The Influx Healthtech IPO comprises a fresh issuance of 46,32,000 equity shares, and an offer for sale of up to 13,68,000 equity shares, each with a face value of Rs 10, through the book-building route. The offer for sale is made by the selling shareholder, Munir Abdul Ganee Chandniwala. 

Maashitla Securities Private is the Registrar for the public issue of Influx Healthtech, while Corporate Capital Ventures is the sole Book Running Lead Manager to the offer.

Influx Healthtech IPO objective

Influx Healthtech has stated in the DRHP that it intends to utilise Rs 21.61 crore of the total proceeds from the public issue to fund capital expenditure for setting up a new manufacturing facility for the Nutraceutical Division. 

From the remaining proceeds, the company will use Rs 8.76 crore to fund capital expenditure for setting up a new manufacturing facility for the Veterinary Food Division, and Rs 2.66 crore to purchase machinery for the Homecare and Cosmetic Division. The remaining amount, as per the DRHP, will be used by Influx Healthtech for general corporate purposes.

About Influx Healthtech

Influx Healthtech is a Contract Development and Manufacturing Organisation (CDMO) specialising in the manufacturing of a diverse range of products across several segments. IHL serves multiple pharma and life sciences companies, including Bling Brands,  Pursuit of Wellness , Aarkios Health , HSHS Nutraceuticals ,  Novus Life Science , Bruder Life Science, Fredun Pharmaceuticals  and Bigflex  Lifescience .

Influx Healthtech registered Rs 99.96 crore in revenue from operations with a profit (PAT) of Rs 11.22 crore in the fiscal year 2023-24, compared to Rs 76.05 crore in revenue from operations and a profit (PAT) of Rs 7.19 crore in FY 2022-23.