Influx Healthtech files for IPO on NSE Emerge to expand operations

New Delhi: Influx Healthtech Limited (IHL) has filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge. The company plans to raise funds through an Initial Public Offering (IPO) to fuel its expansion plans.

The IPO includes a fresh issue of 46,32,000 equity shares and an offer for sale of up to 13,68,000 equity shares, each with a face value of Rs. 10. The Offer for Sale is led by the company’s founder, Munir Abdul Ganee Chandniwala. Corporate Capital Ventures is the sole Book Running Lead Manager, and Maashitla Securities Private Limited will serve as the Registrar to the issue.

Influx Healthtech intends to utilize Rs. 21.61 crore of the total IPO proceeds for capital expenditure to establish a new manufacturing facility for its nutraceutical division. Additionally, Rs. 8.76 crore will be allocated for setting up a veterinary food manufacturing facility, while Rs. 2.66 crore will go towards purchasing machinery for the company’s homecare and cosmetics divisions. The remaining funds will be used for general corporate purposes.

The company, founded in 2020, operates three state-of-the-art manufacturing facilities in Palghar, Maharashtra, spanning over 6,500 to 14,000 square feet. Influx Healthtech manufactures products across various segments, including dietary and nutraceutical supplements, cosmetics, ayurvedic and herbal products, veterinary feed supplements, and homecare items. The company’s product portfolio includes Active Pharmaceutical Ingredients (APIs) and Finished Dosage Forms, such as tablets, capsules, liquid orals, and powders.

Under the leadership of Chandniwala, who has over 20 years of experience in the nutraceutical, cosmetics, and homecare industries, Influx Healthtech has grown steadily since its inception. The company’s clientele includes notable names like Bling Brands Private Limited, Pursuit of Wellness Private Limited, Aarkios Health Private Limited, HSHS Nutraceuticals Limited, Novus Life Science Private Limited, Bruder Life Science, Fredun Pharmaceuticals Limited and Bigflex Lifescience Private Limited.

Influx Healthtech adheres to stringent quality standards, with WHO-GMP compliance, ISO 22000:2018, and ISO 14001:2015 certifications. The company also has FDA approval from the Food & Drugs Administration and Cosmetics Division.

In the fiscal year 2023-24, Influx Healthtech reported revenue from operations of Rs. 99.96 crore, with a profit after tax (PAT) of Rs. 11.22 crore. This marks a significant increase from the previous fiscal year (2022-23), where the company recorded revenue of Rs. 76.05 crore and a profit of Rs. 7.19 crore.