Bengaluru: Indian fertility services provider Indira IVF Hospital has filed draft papers confidentially with the country’s markets regulator for an initial public offering, a newspaper advertisement showed on Wednesday.
The offering could be worth around 35 billion rupees ($407.2 million), Bloomberg News reported on Tuesday, citing people familiar with the matter.
The deal will not include the issuance of new shares as existing shareholders will offload their stakes, the report said.
The company, backed by Hong Kong-based investment firm BPEA EQT, had filed for the IPO in February.
However, it later withdrew its draft documents in March after the release of a Bollywood biopic about the company’s founder raised concerns with the Securities and Exchange Board of India, the markets regulator, according to The Economic Times, a business daily.
The confidential route allows companies to submit draft IPO papers to SEBI for feedback without making the details public, giving them greater flexibility on timing and disclosure.
Indira IVF Hospital did not immediately respond to a Reuters request for comment.
($1 = 85.9620 Indian rupees) (Reporting by Meenakshi Maidas in Bengaluru; Editing by Sonia Cheema)
