Indira IVF said to revive India IPO that may raise Rs 3,500 crore

The company, backed by private equity firm EQT AB, plans to submit the so-called draft red herring prospectus later this month

Bloomberg

July 16, 2025 / 01:52 IST

The company had initially submitted a draft prospectus in February but withdrew it in March

Indira IVF Hospital is reviving its initial public offering plans in India and will soon submit preliminary documents for a listing that may fetch Rs 3,500 crore ($408 million), according to people familiar with the matter.

The company, backed by private equity firm EQT AB, plans to submit the so-called draft red herring prospectus later this month, according to the people, who asked not to be identified discussing a private matter. The deal won’t involve the issue of new stock as existing shareholders will be selling their holdings, the people said.

EQT will probably offload Rs 2,900 crore of shares in the offering, and three members of the founding family — Ajay Murdia, Kshitiz Murdia and Nitiz Murdia — will each sell shares worth 2 billion rupees, the people said.

A spokesperson of the company didn’t immediately respond to an email seeking comment.

The company had initially submitted a draft prospectus in February but withdrew it in March. The withdrawal came as the IPO plans coincided with the release of a Bollywood biopic based on the company’s founder, which drew concerns from the Securities and Exchange Board of India, according to the Economic Times.