Influx Healthtech, a leading contract development and manufacturing company, files IPO papers with NSE Emerge to raise funds for expansion plans, including new manufacturing facilities and machinery purchase.
New Delhi, Sep 10 (PTI) Influx Healthtech Ltd has filed preliminary papers with NSE Emerge to raise funds through an initial public offering, which will be used for expansion plans.
The Mumbai-based company's IPO comprises a fresh issuance of 46.32 lakh equity shares and an Offer for Sale (OFS) of up to 13.68 lakh equity shares by founder Munir Abdul Ganee Chandniwala.
Proceeds of the issue to the tune of Rs 21.61 crore will be used for setting up a new manufacturing facility for the nutraceutical division; Rs 8.76 crore for establishing a new manufacturing facility for the veterinary food division and Rs 2.66 crore for purchase of machinery for homecare and cosmetic division, the company said in a statement.
Also, it plans to use the remaining capital 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 homecare products. It operates three manufacturing facilities located at Palghar, Maharashtra.
The company posted its revenue from operations at Rs 99.96 crore with a profit after tax (PAT) of Rs 11.22 crore in fiscal 2024, compared to Rs 76.05 crore in revenue from operations and a PAT of Rs 7.19 crore in FY23.
Corporate Capital Ventures is the sole book-running lead manager to the public issue, and Maashitla Securities is the registrar.
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