The Bengaluru-based global medical technology company, Healthium Medtech, filed draft papers for fund raising via initial public offering (IPO) with Securities Exchange Board of India (Sebi).
Healthium Medtech's IPO consists of fresh issue of Rs 390 crore and an offer for sale of 3.9 crore equity shares by promoter Quinag Acquisition (FDI) and up to 1 lakh shares Mahadevan Narayanamoni.Proceeds from the fresh issue will be utilised for repayment of debt worth Rs 50 crore.
Rs 179 crore will be utilised for investment in its subsidiaries Sironix, Clinisupplies and Quality Needles.Healthium Medtech makes equipment and products used in surgical, post-surgical and chronic care.
The company in India, the UK and rest of the world and four focus areas, namely, advanced surgery, urology, arthroscopy and wound care.Healthium Medtech in the filing said it gained market share across its markets and focus areas between fiscals 2019 and 2021, while improving profitability over the period.Healthium Medtech's products are used in one in six surgeries across the world, the company said on its website.
The company works with surgeons and hospitals to help deliver better patient outcomes.