EQT-backed Indira IVF said to weigh $400 million Mumbai IPO
EQT AB is considering an initial public offering for Indira IVF that could raise about $400 million, according to people familiar with the matter.
The Stockholm-based investment firm is working with arrangers to help prepare for an IPO in Mumbai as soon as next year, the people said, asking not to be identified because the matter is private. A share sale could value the IVF clinic operator at about $2.5 billion, they said.
Considerations are preliminary and no final decisions have been made, the people said. Details such as size, value and timing may change, they said.
A representative for EQT declined to comment, while Indira IVF didn’t immediately respond to a request seeking comment.
Indira IVF runs more than 150 fertility centers across India with over 290 IVF specialists, according to its website. EQT acquired a controlling stake in Indira IVF last year from TA Associates and the company’s founders, who retained a minority stake and continued leading the business.
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