Everstone Capital-backed Integris Medtech files DRHP for ₹3,500-4,000 cr IPO; key details
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As of June 30, 2025, Integris had partnered with over 2,000 hospitals and Cath labs and worked with 9,500 laboratories globally. | Credits: Getty Images
Everstone Capital-backed Integris Medtech files DRHP for ₹3,500-4,000 cr IPO; key details
Integris Medtech, a leading medical technology firm, has submitted its DRHP for a ₹925 crore IPO. The proceeds will help repay loans and support corporate activities. The company, known for its cardiovascular and laboratory solutions, has expanded through strategic acquisitions and partnerships, showing a strong financial turnaround with a significant profit increase in FY25.
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Known for its cardiovascular and laboratory solutions, the company has expanded through acquisitions and partnerships. With a significant market share in drug-eluting stents, Integris has seen profit increase in FY25.
As of June 30, 2025, Integris had partnered with over 2,000 hospitals and Cath labs and worked with 9,500 laboratories globally. | Credits: Getty Images
Diversified medical technology platform Integris Medtech has filed its draft red herring prospectus (DRHP) for a public issue with market regulator Securities and Exchange Board of India (SEBI). The IPO comprises a fresh issue of equity shares up to ₹925 crore and an offer for sale of up to 21,674,531 equity shares. The OFS includes 15,174,251 equity shares by Evercure Holdings Pte. Ltd., 3,250,140 shares by Gurmit Singh Chugh, and 3,250,140 shares by Punita Sharma.
Overall, the entire issue is pegged between ₹3,500 crore and ₹4,000 crore, people familiar with the matter said.
In consultation with the BRLMs, the company may consider a pre-IPO placement of ₹185 crore before the filing of the RHP with the ROC. The company plans to use the funds raised from the net proceeds to repay or prepay certain loans, along with any interest and prepayment charges amounting to ₹696.39 crore, taken by its wholly owned subsidiaries as well as by its step-down subsidiaries. A portion of the funds will also be used for general corporate purposes.
Co-founded by Gurmit Singh Chugh and Punita Sharma, Integris’s journey began with the sales of cardiology products, and it has transitioned into advanced manufacturing with the introduction of technologies such as the Yukon drug-eluting stent. Recently, the company onboarded Probir Das as its CEO.
The company has grown on the back of the growth capital it received from Everstone Capital in 2019, which resulted in strategic acquisitions in Europe and in the laboratory sector. Its list of acquisitions includes Translumina GMBH, Blue Medical Devices, Lamed Gmbh, Research Instruments, Biofrontier, Analisa Resources and Sciences Resources. In 2025, it acquired 100% shares of Everlife Holdings.
The company operates across two key global medtech segments, including cardiovascular devices (including drug-eluting stents, drug-coated balloons, complex coronary intervention products, and vascular access solutions) and laboratory solutions, which serve clinical, research, and industrial laboratories.
The DRHP says Integris is the country’s second largest coronary stent manufacturer with an estimated 22.0% market share in drug-eluting stents and is also the largest scientific laboratory solutions company in Southeast Asia.
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As of June 30, 2025, Integris had partnered with over 2,000 hospitals and Cath labs and worked with 9,500 laboratories globally. Income grew 23.85% to ₹1,959.58 crore in FY25 from ₹1582.25 crore in the previous year, while restated profit showed a positive turnaround from a ₹4.8 crore loss in FY24 to ₹70.6 crore profit in FY25.