Let’s take a look at its plan of action.
Per its draft red herring prospectus, Skanray Technologies IPO comprises new share issuance of up to Rs. 400 crores. Additionally, the IPO includes an Offer-for-Sale aggregating up to 14,106,347 equity shares by current shareholders and promoters.
The company intends to utilise the Skanray Technologies IPO proceeds to:
Skanray Technologies is a Mysuru-based business founded in 2007 by Vishwaprasad Alwa. It is a leading medical device maker that engages in the design, development, manufacture, and marketing of medical equipment.
Its diverse product portfolio comprises cardiology devices, ventilators, patient monitoring systems, respiratory management systems, and high-frequency X-ray and critical care devices. The company retails its products globally for personal medical use or in hospitals.
Additionally, Skanray operates 2 manufacturing facilities, one in Mysuru, India and the other in Bologna, Italy. Both of these facilities are approved by the US Food and Drug Administration (FDA).
Here’s a rundown on its finances:
But will Skanray continue to stay ahead of the game?
ICRA expects the company to post a strong revenue growth and net profit in this financial year. The agency envisions this growth backed by healthy demand for products across segments, particularly for ventilators.
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Skanray Technologies has filed a DRHP to raise funds for a sum of Rs. 400 crores. The company plans to employ the funds generated from Skanray Technologies IPO towards meeting its working capital requirements and funding growth opportunities.
In addition, it may also undertake a secondary share-sale, wherein its existing stakeholders will sell a part of their stake in the company.
27 June 2021.
The face value of Skanray shares will be Rs.10 per share.
BSE and NSE.
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