Indira IVF Hospital, one of India’s leading fertility service providers, has confidentially submitted draft documents for an initial public offering (IPO) to the Securities and Exchange Board of India (SEBI), as revealed in a public notice.
The IPO is expected to be valued at around ₹3,500 crore (approximately $407 million). The offering will be entirely an offer-for-sale (OFS), with no new shares being issued. Existing shareholders, including private equity investor BPEA EQT, will offload part of their holdings.
This marks Indira IVF’s second attempt at going public. The company had earlier filed for an IPO in February but withdrew the application in March after the release of a Bollywood biopic on its founder reportedly raised concerns with the markets regulator.
By choosing the confidential filing route, Indira IVF is utilizing SEBI’s provision that allows companies to seek regulatory feedback without publicly disclosing detailed information. This approach offers greater flexibility in timing and disclosures before moving forward with a public listing.