Healthium Medtech, a global MedTech company that aims to provide access to Precision Medtech for surgeons and hospitals across different therapy areas and in 70 countries,  has filed preliminary draft papers with capital markets regulator Sebi to mop-up funds through an initial public offering (IPO). The IPO consists of fresh issuance of equity shares worth Rs 390 crore and an offer-for-sale of 3.91 crore equity shares by existing shareholders and promoters, according to the draft red herring prospectus (DRHP).

According to the regulatory filing, it reads that as a part of the offer-for-sale, Quinag Acquisition (FDI) Ltd will offload 3.9 crore equity shares and Mahadevan Narayanomani will sell 1 lakh shares. Proceeds from the new issue to the tune of Rs 50.09 crore will be utilised to repay debt, Rs 179.46 crore will be invested into its subsidiaries Sironix, Clinisupplies and Quality Needles and Rs 58 crore will be used for acquisition and other strategic initiatives.

Company profile: Healthium Medtech is a global medtech company focused on products used in surgical, post-surgical and chronic care. It operates across three key markets, India, the UK and rest of the world and four focus areas, namely, advanced surgery, urology, arthroscopy and wound care.

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