Influx Healthtech Files For IPO On NSE Emerge To Boost Expansion Plans
The IPO will include a fresh issue of 46.32 lakh equity shares and an offer-for-sale portion of up to 13.68 lakh equity shares.
Influx Healthtech Ltd has submitted preliminary documents to NSE Emerge for an initial public offering, aimed at raising funds for its expansion efforts.
The Mumbai-based company’s IPO will include a combination of fresh issuance of 46.32 lakh equity shares and an offer-for-sale portion of up to 13.68 lakh equity shares from Founder Munir Abdul Ganee Chandniwala.
The company intends to use Rs 21.61 crore from the funds raised for establishing a new manufacturing facility for the nutraceutical division.
It will use Rs 8.76 crore for a new facility in the veterinary food division and Rs 2.66 crore for purchasing machinery for the home care and cosmetic division. The remaining capital will be used for general corporate expenses.
Founded in 2020 by Chandniwala, Influx Healthtech is a leading contract development and manufacturing organisation specialising in nutraceuticals, cosmetics, veterinary feed, ayurvedic, and home care products. It operates three manufacturing facilities located at Palghar in Maharashtra.
The company posted its revenue from operations at Rs 99.96 crore with a profit of Rs 11.22 crore in fiscal 2024, compared to Rs 76.05 crore in revenue from operations and a profit of Rs 7.19 crore in financial year 2023.
Corporate Capital Ventures is the sole book-running lead manager to the public issue, and Maashitla Securities is the registrar.
(With Inputs From PTI.)
