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Skanray Technologies files draft papers for Rs 400-crore IPO
IMT News Desk
Skanray Technologies files draft papers for Rs 400-crore IPO
IMT News Desk
The company may consider a pre-IPO placement of shares worth Rs 350 crore, including a fresh issue of a share of Rs 150 crore and a share sale by existing shareholders of up to Rs 200 crore
Medical devices manufacturer Skanray Technologies has filed its draft red herring prospectus (DRHP) with the markets regulator Sebi for its initial public offering (IPO) and is looking to raise Rs 400 crore, reports said.
The IPO will include a secondary share sale, wherein its promoters and existing private equity investor Ascent Capital are expected to sell a part of their stakes, according to a report in Mint.
The company may consider a pre-IPO placement of shares worth Rs 350 crore, including a fresh issue of a share of Rs 150 crore and a share sale by existing shareholders of up to Rs 200 crore, the report added.
The company is in the business of manufacturing medical equipment, including patient monitoring systems, high-frequency X-ray devices, ventilators and critical care devices.
The company operates two US Food and Drug Administration-approved manufacturing facilities in Mysuru, and one in Bologna, Italy.
Skanray’s revenue in 5M FY21 was at Rs 88.8 crore (provisional figures), registering a growth of 138.3 per cent YoY, led by healthy demand across products.