The IPO will consist of a fresh issue of shares aggregating Rs 925 crore and an offer for sale (OFS) of up to 2.17 crore shares. The OFS includes up to 1.51 crore shares of Evercure Holdings Pte. Ltd., 32.5 lakh shares each by co-founders Gurmit Singh Chugh and Punita Sharma.
Proceeds from the fresh issue will be used to repay or prepay loans worth Rs 696.39 crore taken by its wholly owned subsidiaries and exiting subsidiaries, while the remainder will be allocated for general corporate purposes.
Co-founded by Chugh and Sharma, Integris started as a cardiology products company and has since grown into a global medical technology player. It produces cardiovascular devices and laboratory solutions in India, Germany and the Netherlands and supplies to more than 65 countries. The company is the second largest manufacturer of coronary stents in India with a 22% market share in drug-eluting stents and is also the largest supplier of scientific laboratory solutions in Southeast Asia.
Backed by Everstone Capital since 2019, Integris has completed 17 strategic acquisitions, including Translumina GmbH, Blue Medical Devices and Everlife Holdings Pte. Ltd., to strengthen its global presence. As of June 30, 2025, it was working with more than 2,000 hospitals and 9,500 laboratories worldwide.
In FY25, the company’s total revenues rose 23.9% year-on-year to Rs 1,959.6 crore, while profit after tax rose to Rs 70.6 crore after a loss of Rs 4.8 crore in FY24. Adjusted PAT stood at Rs 103 crore. ICICI Securities, Axis Capital, Citigroup Global Markets India and IIFL Capital Services are the lead managers for this issue. (Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times)
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