Influx Healthtech Ltd Prepares for IPO to Fuel Expansion

Influx Healthtech Ltd, a Mumbai-based company, has submitted papers for an IPO to fund its expansion. The IPO includes fresh shares and an Offer for Sale by its founder. The raised capital will support new manufacturing facilities and machinery. Founded in 2020, the company specializes in nutraceuticals, cosmetics, veterinary feed, and more.

Influx Healthtech Ltd has filed preliminary papers with NSE Emerge to raise funds through an initial public offering, intended to fuel its ambitious expansion plans.

The Mumbai-based company's IPO will include 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.

The funds raised, amounting to Rs 21.61 crore, will be allocated for setting up a new manufacturing facility for the nutraceutical division, Rs 8.76 crore for a veterinary food division facility, and Rs 2.66 crore for new machinery for the homecare and cosmetics division. Remaining capital will cover general corporate expenses.

Founded in 2020 by Chandniwala, Influx Healthtech is a leading CDMO (contract development and manufacturing organization) specializing in nutraceuticals, cosmetics, veterinary feed, ayurvedic, and homecare products. It operates three manufacturing facilities in Palghar, Maharashtra.

Notably, the company recorded a revenue of Rs 99.96 crore and a PAT of Rs 11.22 crore in fiscal 2024, compared to Rs 76.05 crore in revenue and a PAT of Rs 7.19 crore in FY23.

Corporate Capital Ventures is the sole book-running lead manager for the public issue, and Maashitla Securities is the registrar for the offering.