
Indira IVF wants to raise ₹3,500cr via IPO
What's the story
Indira IVF is gearing up to launch its initial public offering (IPO) in India. The company will soon file preliminary documents for the listing with Securities and Exchange Board of India (SEBI), which could raise approximately ₹3,500 crore. Existing shareholders such as EQT AB and the founding family are expected to sell their stakes in this upcoming IPO.
Stake sale
Shareholder breakup for the upcoming IPO
As part of the IPO, EQT AB is likely to sell shares worth ₹2,900 crore. Meanwhile, three members of Indira IVF's founding family—Ajay Murdia, Kshitiz Murdia and Nitiz Murdia—are each expected to offload shares worth ₹200 crore. Notably, this IPO won't involve any new share issuance as existing shareholders will be selling their holdings.
Past attempts
Draft prospectus filed in February
Indira IVF had earlier filed a draft prospectus in February but withdrew it in March. The withdrawal was due to the clash of its IPO plans with the release of a Bollywood biopic based on the company's founder, which raised concerns from SEBI.
Expansion
Indira IVF's journey so far
Founded back in 2011, Indira IVF has grown to operate more than 155 fertility centers across the country. The firm works with 315 IVF specialists as of September 2024. Kotak Mahindra Capital, IIFL Capital Services Ltd, JPMorgan Chase & Co, and UBS Group AG are advising on the upcoming IPO.