PE fund Jacob Ballas to exit Inventia Healthcare through ₹450 crore IPO1 min read . Updated: 21 Sep 2018, 05:22 PM IST
Inventia Healthcare plans to raise fresh capital to the tune of 125 crore through the IPO, which will be used to pay off outstanding loans and for general corporate purposes
Mumbai: Inventia Healthcare Ltd, backed by private equity fund Jacob Ballas, on Friday filed draft documents with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO).
Inventia focuses on developing oral solid dosage formations (OSDFs), from research and development to manufacturing and packaging, and sells its products using partners’ brand names, either based on a fixed transfer price, or based on a share of profit from sales. Some of its partners in India include pharma majors such as Bayer, Abbott, GlaxoSmithKline (GSK) and Glenmark.
The key therapeutic areas which the company caters to include anti-diabetic, gastrointestinal and musculoskeletal segments.
According to a person aware of the company’s plans, the Inventia IPO size is expected to be about ₹ 450 crore.
The company plans to raise fresh capital to the tune of ₹ 125 crore through the IPO, which will be used to pay off outstanding loans and for general corporate purposes, the draft documents said.
Apart from the fresh capital raise, Inventia’s promoters Janak Shah and Maya Shah, as well as PE firm Jacob Ballas, will be selling shares in the IPO.
Jacob Ballas plans to sell its entire stake of 23.4% that it holds in Inventia.
Investment banks ICICI Securities and Centrum Capital are managing the Inventia share sale.
For the financial year 2017-18, the company reported a revenue of ₹ 310.8 crore, as against a revenue of ₹ 280.4 crore in the previous year. In 2017-18, Inventia reported a profit of ₹ 15.7 crore, as compared to a profit of ₹ 14.1 crore a year ago.