Indira IVF revives IPO plans in India

Business Jul 15, 2025

Indira IVF is gearing up to raise about ₹3,500 crore (roughly $408 million) through a fresh IPO.
Most of the shares—₹2,900 crore worth—will be sold by private equity firm EQT, while founders Ajay Murdia and his sons Kshitiz and Nitiz will each sell ₹200 crore in shares.
The company plans to file its draft prospectus in July 2025, making a comeback after pausing its IPO earlier this year.

One of the biggest names in assisted reproductive treatments

Started in 2011 by Dr. Ajay Murdia, Indira IVF runs over 155 fertility centers across India with a team of 315 specialists as of September 2024.
It's now one of the biggest names in assisted reproductive treatments in the country.

Indira IVF's initial IPO filing

Indira IVF pulled back its initial IPO filing in March after SEBI flagged concerns about a Bollywood biopic on its founder releasing close to the IPO date, which could have influenced investors.