The industry plans to raise an estimated ₹12,000–13,000 crore over the next six to nine months. According to data compiled by *The Economic Times*, around 15 companies from this sector are likely to enter the primary market soon.
**Market Activity: SEBI Receives DRHPs for Several Companies**
The Securities and Exchange Board of India (SEBI) has received draft red herring prospectuses (DRHPs) from several companies. Notably, Indira IVF refiled in July with an issue size of about ₹3,500 crore, while Sahajanand Medical Technologies filed for a ₹1,500 crore issue. Other significant filings include NephroPlus (approximately ₹2,000 crore), Molbio Diagnostics (₹200 crore), and Cotec Healthcare (₹500 crore).
**Fundraising Plans: Companies That Have Received SEBI’s Nod**
Among the companies that have secured SEBI’s approval are Rubicon Research, aiming to raise ₹1,085 crore, and Corona Remedies, planning to raise ₹800 crore. Additionally, other companies gearing up for initial public offerings (IPOs) include Paramesu Biotech (₹600 crore), Allchem Lifesciences (₹190 crore), Paras Healthcare (about ₹900 crore), Veeda Clinical Research (around ₹500 crore), and Gujarat Kidney and Superspeciality Hospital (₹128 crore). Genetix Biotech is also poised to file for an IPO soon.
**Trends: ART Sector Attracting Investor Interest Due to Strong Fundamentals**
Saurav Chaube, a research analyst at Samco Securities, highlighted a strategic shift in the assisted reproductive technology (ART) sector. He explained that growing investor interest is fueled by strong market fundamentals, such as increasing infertility awareness and favorable demographics.
Chaube further noted that companies like Indira IVF and Gaudium IVF have filed through the confidential route. This approach signals a maturing market where players seek to optimize their public offerings while minimizing early scrutiny and potential opportunist litigation.
**Industry Outlook: Pharma and Healthcare Increasingly in Focus Since COVID-19**
Samir Bahl, CEO of Anand Rathi Advisors, observed that global markets have increasingly concentrated on pharma and healthcare since the COVID-19 pandemic. He pointed out that countries like the US and India are ramping up investments in pharmaceutical and biotech innovation.
Bahl also remarked that Indian pharma companies are commanding high price-to-earnings ratios, reflecting favorable valuations and strong investor interest in the sector.
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