Indira IVF will invest Rs 200 crore yhis fiscal to expand footprint globally
By VIRENDRA SINGH RAWAT
Lucknow, May 19 (The CONNECT) -India’s largest infertility clinics chain Indira IVF is planning to raise Rs 2,000 crore through an Initial Public Offer (IPO) in the next financial year.
“We are looking to come out with an IPO sometime in June next year (2023-24) to raise about Rs 2,000 crore from the capital market,” Indira IVF founder and chairman Ajay Murdia told the media here on Wednesday.
He said the company is currently valued at nearly Rs 5,000 crore. In 2019, Boston-based global private equity firm, TA Associates had picked up 35 percent equity in the firm.
“We will invest about Rs 200 crore in the current financial year (2022-23) to expand footprint both domestically and globally,” he informed.
Murdia said Indira IVF has prepared a roadmap to launch clinics in Nepal, Bangladesh, Gulf countries and Africa.
“The offshore centres will be launched over the next 3-6 months. Later, we may explore the opportunity of opening clinics in the developed countries as well, including the US,” he added.
Meanwhile, the company has launched its new centre in Lucknow, which is now the biggest integrated Indira IVF facility in the country.
Currently, the company operates 109 clinics across the states even as more than a dozen new facilities are expected to be launched in the current financial year. Uttar Pradesh accounts for 15 clinics covering all major cities.
Now, Indira IVF is planning to foray into the pharmacy business and also to fortify the pathology vertical to boost its entire value chain and increase affordability for customers.
“While, our prices are among the most competitive, we are always striving to further slash our costs so that all the segments of society could avail of our medical services,” Murdia said.
With a pan-India employee count of nearly 2,400, Indira IVF performs more than 33,000 IVF procedures a year.