Healthium Medtech has filed preliminary papers with capital markets regulator Sebi to mop-up funds through an initial share-sale.
The initial public offering (IPO) comprises fresh issuance of equity shares worth Rs 390 crore and an offer-for-sale of 3.91 crore equity shares by existing shareholders and promoters, according to the draft red herring prospectus (DRHP).
As a part of the offer-for-sale, Quinag Acquisition (FDI) Ltd will offload 3.9 crore equity shares and Mahadevan Narayanomani will sell 1 lakh shares.
Proceeds from the fresh issue to the tune of Rs 50.09 crore will be utilised to repay debt, Rs 179.46 crore will be invested into its subsidiaries Sironix, Clinisupplies and Quality Needles and Rs 58 crore will be used for acquisition and other strategic initiatives.
The company's promoter is ultimately owned by funds advised by Apax Partners LLP.
Healthium Medtech is a global medtech company focused on products used in surgical, post-surgical and chronic care. It operates across three key markets, India, the UK and rest of the world and four focus areas, namely, advanced surgery, urology, arthroscopy and wound care.
For the financial year ended March 31, 2021, the company posted a profit of Rs 85.43 crore compared to Rs 36.76 crore in the preceding fiscal, its total income increased to Rs 726.75 crore during the period under review, from Rs 652.38 crore in the preceding fiscal.
ICICI Securities, CLSA India, Credit Suisse Securities India and Nomura Financial Advisory and Securities India are lead managers to the issue.
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