Indira IVF wants to raise ₹ 3,500c via iPO

Indira IVF, one of India’s leading fertility chains, is preparing to launch its Initial Public Offering (IPO) and raise around ₹3,500 crore. The company is expected to file its draft red herring prospectus (DRHP) soon with the Securities and Exchange Board of India (SEBI).

Shareholders Set to Exit Partially

The upcoming IPO will be an offer-for-sale (OFS), meaning no fresh shares will be issued. Existing shareholders—including Swedish private equity firm EQT AB—will offload part of their stakes. EQT is likely to sell shares worth approximately ₹2,900 crore, while three members of the founding family—Ajay Murdia, Kshitiz Murdia, and Nitiz Murdia—are expected to collectively sell shares worth about ₹200 crore.

Previous Filing Withdrawn Due to Conflict

Indira IVF had earlier filed a draft IPO proposal in February, but withdrew it in March 2024, reportedly due to a conflict with another IPO by Biowood, a company backed by the same founders. This overlap raised regulatory concerns with SEBI, leading to the temporary withdrawal.

About Indira IVF

Founded in 2011, Indira IVF has grown to become a prominent fertility services provider in India. As of September 2024, the company operates 155 IVF centers across the country and employs a team of 315 specialized IVF doctors.