Integris Medtech IPO

Integris Medtech Limited’s Initial Public Offering is a book-building issue consisting of a fresh issue of ₹600 crores and an offer for sale of up to 1.08 crore equity shares.

The equity shares are proposed to be listed on the National Stock Exchange of India and the Bombay Stock Exchange. ICICI Securities Limited is the book-running lead manager, and KFin Technologies Limited is the registrar of the issue. Key details, such as the Initial Public Offering dates, price band, and lot size, are yet to be announced.

About Integris Medtech Limited

Integris Medtech Limited is a diversified medical technology company engaged in the development, manufacturing, commercialization, and sale of medical devices and laboratory solutions. According to its Draft Red Herring Prospectus dated October 9, 2025, the company was incorporated as Integris Health Private Limited on April 25, 2008. It subsequently changed its name to Integris Medtech Private Limited on June 30, 2025, and was converted into a public limited company under the name Integris Medtech Limited on August 8, 2025. The company operates through its subsidiaries and has expanded its presence in the medical technology sector through acquisitions and business integration.

The company operates across two principal business segments: cardiovascular devices and laboratory solutions, including clinical diagnostics and scientific laboratory products. Its cardiovascular portfolio includes coronary stents, drug-eluting stents, drug-coated balloons, vascular access products, and other devices used in interventional cardiology. Its laboratory solutions business offers clinical diagnostic products, scientific laboratory equipment, consumables, and related services. The company follows a combination of in-house manufacturing, partnerships with third-party brands, and acquisitions to expand its product portfolio, address technology requirements, and strengthen its market presence. As of June 30, 2025, its portfolio comprised more than 22,000 stock-keeping units across over 200 brands, including its own manufactured products and products from partner brands.

Integris Medtech Limited operates manufacturing facilities in India, Germany, and the Netherlands, supported by research, development, and product commercialization capabilities. Its manufacturing operations cover cardiovascular medical devices and related products, while its laboratory solutions business provides products and services to clinical and scientific laboratories. The company combines in-house manufacturing with products sourced through partnerships with global manufacturers. Its distribution network extends across more than 65 countries. As of June 30, 2025, the company had partnered with more than 2,000 hospitals and catheterization laboratories and served over 9,500 laboratories worldwide.

The company serves healthcare providers, hospitals, catheterization laboratories, and clinical and scientific laboratories across domestic and international markets. Its international operations contribute significantly to its revenue, supported by its cardiovascular devices, clinical diagnostics, and scientific laboratory solutions businesses. Revenue from operations increased from ₹1,348.10 crore in Fiscal 2023 to ₹1,553.38 crore in Fiscal 2024 and ₹1,902.47 crore in Fiscal 2025. For the three months ended June 30, 2025, revenue from operations stood at ₹485.25 crore. The company reported a restated loss of ₹4.88 crore in Fiscal 2024 and a restated profit of ₹70.68 crore in Fiscal 2025.

Industry Outlook

• The global medical technology industry is witnessing growth driven by rising healthcare expenditure, increasing prevalence of chronic diseases, and growing demand for advanced diagnostic and therapeutic solutions across healthcare systems.
• The cardiovascular devices market is supported by the increasing burden of cardiovascular diseases and demand for minimally invasive procedures, including percutaneous coronary interventions, which utilize products such as drug-eluting stents and drug-coated balloons.
• The clinical diagnostics industry is benefiting from the growing need for early disease detection, accurate diagnosis, and laboratory testing, alongside technological advancements in diagnostic equipment and testing methodologies.
• The scientific laboratory solutions market is supported by expanding research and development activities, pharmaceutical innovation, biotechnology research, and increasing demand for laboratory equipment, consumables, and technical support services.
• Technological advancements in medical devices, including improved product designs, advanced coatings, diagnostic automation, and innovative cardiovascular interventions, are creating opportunities for manufacturers to develop differentiated products and enhance clinical outcomes.
• The Indian medical technology industry offers growth opportunities through rising healthcare demand, expanding hospital infrastructure, increasing access to diagnostic services, and growing adoption of advanced medical devices across public and private healthcare facilities.
• Government initiatives promoting domestic manufacturing, medical technology research and development, import substitution, and export competitiveness are supporting the development of India's medical devices ecosystem and creating opportunities for indigenous manufacturers.
• International expansion presents opportunities for medical technology companies to access new markets, establish distribution partnerships, and diversify revenue streams; however, regulatory requirements, competitive pressures, and dependence on third-party suppliers remain important industry considerations.

Integris Medtech IPO Objectives

The company proposes to utilize the net proceeds from the IPO for the following objectives:

• Repayment/prepayment, in full or in part, of certain outstanding borrowings, interest accrued, and prepayment of penalties.
• Repayment of borrowings availed by wholly owned subsidiaries, including Translumina Therapeutics, Transhealth, and HaleMed Medical.
• Repayment of borrowings availed by step-down subsidiaries, including CPC Diagnostics, Chemopharm, and Research Instruments.
• Funding general corporate purposes.

Financial Performance of Integris Medtech Limited

Integris Medtech Limited Peer Details Comparison