Integris Medtech Files DHRP with SEBI for INR 3500-4000 Cr IPO

The proposed IPO consists of a fresh issue of shares worth around INR 925 crore and an offer for sale (OFS) by promoters and existing investors.

Integris Medtech, a leading medical technology company, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise between ₹3,500 crore and ₹4,000 crore through an initial public offering (IPO).

Reportedly, the proposed IPO consists of a fresh issue of shares worth around INR 925 crore and an offer for sale (OFS) by promoters and existing investors.

The OFS comprises 15.7 million shares of Evercure Holdings and 3.25 million shares each by Co-founders Gurmit Singh Chugh and Punita Sharma.

According to the company’s filing, the fresh capital raised will primarily be used to repay or prepay certain borrowings and to meet general corporate requirements.

Further, it may consider a pre-IPO placement for up to INR. 185 crore. If such placement is completed, the fresh issue size will be reduced.

“Our build, partner, and acquire strategy has been deliberate to fuel growth, expand reach, address technology gaps, and strengthen innovation and service delivery,” the company stated in its DRHP.

Backed by private equity player Everstone Capital, Integris was formed through the consolidation of multiple healthcare technology businesses under Everstone’s portfolio. It operates across diagnostics, life sciences, and clinical solutions.

The company operates in India, Germany, and the Netherlands, and exports to over 65 countries. It serves over 2,000 hospitals and cath labs, and collaborates with 9,500 laboratories globally.

In its financial disclosure, the company had reported a restated profit of INR 70.6 crore in FY25, while its adjusted profit after tax PAT stood at INR 103 crore in FY25, up from INR 21.4 crore in FY24.

Further, according to the DRHP, international markets accounted for over 60% of the company’s total revenue during the year.

As per reports, the IPO will be managed by ICICI Securities, Axis Capital, Citigroup Global Markets India, and IIFL Capital Services, who are acting as the book-running lead managers to the issue.

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