EQT-backed Indira IVF Hospital Ltd. has confidentially filed its draft papers for its market debut via the regulator’s pre-filing route. This makes Indira IVF the latest addition in the list of confidential filings which includes the likes of Swiggy Ltd., Credila Financial Services Ltd. and Vishal Mega Mart Ltd.
“The filing of the pre-filed draft red herring prospectus shall not necessarily mean that the company will undertake the initial public offering,” the company said.
The Stockholm-based investment firm had acquired a controlling stake in Indira IVF from Boston-based TA Associates and the company’s founders in 2023. While TA Associates exited the business through the deal, the Murdias retained a minority stake and continued leading the company.
Bloomberg News had reported in November 2024 that EQT was eyeing a $400 million IPO for Indira IVF, which would value the company at about $2.5 billion.
Indira IVF runs more than 150 fertility centers across India with over 330 IVF specialists, according to its website. Infertility rates in India are about 15% and expected to rise, EQT said in a statement when it acquired its stake in Indira IVF in 2023.
Confidential IPO is an optional mechanism where companies opting for this file their IPO confidentially. SEBI enabled this in December 2022, and Tata Play Ltd. became the first company to make use of this. Under this route, a company files its DRHP, but the document is not made public immediately. It is released only when the company decides to go live with its IPO. A confidential filing allows a company to protect what it believes to be sensitive data from its competitors.
ICICI Direct says that the confidential IPO filing process can be more time-consuming compared to the traditional process and comes with higher advisory and legal fees.
. Read more on Business by NDTV Profit.The filing of the pre-filed DRHP does not necessarily mean that Indira IVF will undertake the IPO. Read MoreBusiness, Markets
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