Business

Surge in Pharma IPOs: India’s Healthcare Sector Aims to Raise Rs 12,000 Crore from 15+ Listings

Several firms have filed Draft Red Herring Prospectuses (DRHPs) with SEBI, including Indira IVF, which plans to raise around Rs 3,500 crore, and Sahajanand Medical Technologies, which is eyeing a Rs 1,500 crore raise. Others in the pipeline include NephroPlus (Rs 2,000 crore), Molbio Diagnostics (Rs 200 crore), and Cotec Healthcare (Rs 500 crore).

• By Newsdesk
• New Delhi
• Sep 25, 2025

Business

India’s pharmaceutical and healthcare domain is entering a major fundraising wave, with industry players targeting ₹12,000–13,000 crore in capital through initial public offerings over the next six to nine months. Around 15 companies are already preparing to tap the primary equity markets.

Several firms have filed Draft Red Herring Prospectuses (DRHPs) with SEBI, including Indira IVF, which plans to raise around ₹3,500 crore, and Sahajanand Medical Technologies, which is eyeing a ₹1,500 crore raise. Others in the pipeline include NephroPlus (₹2,000 crore), Molbio Diagnostics (₹200 crore), and Cotec Healthcare (₹500 crore).

Additionally, Sudeep Pharma has sought approval for ₹95 crore, while Gaudium IVF & Women Health intends to refile for about ₹500 crore. Some companies have already secured SEBI clearance, such as Rubicon Research (₹1,085 crore) and Corona Remedies (₹800 crore). Meanwhile, Paramesu Biotech (₹600 crore), Allchem Lifesciences (₹190 crore), Paras Healthcare (₹900 crore), Veeda Clinical Research (₹500 crore), and Gujarat Kidney & Superspeciality Hospital (₹128 crore) are also poised for public listing.

Market analysts see this as more than a capital-raising spree. According to Saurav Chaube of Samco Securities, the assisted reproductive technology (ART) segment is drawing particular attention, driven by rising awareness of infertility, favorable demographics, and a projected compounded annual growth rate near 15% over the coming decade. Chaube notes that many firms are choosing confidential filing routes—reducing early public scrutiny while tapping a more mature investor base.

On the broader horizon, factors such as global investors’ renewed interest in pharma post-COVID, supply-chain realignments away from China, and India’s cost advantages are fueling confidence. Samir Bahl, CEO of Anand Rathi Advisors, argues that Indian pharma firms are well positioned to leverage export potential, invest more aggressively in R&D (including biosimilars and specialty drugs), and ride favorable valuations rooted in high price-to-earnings ratios in the sector.

In short, India’s pharma and healthcare sector is bracing for an IPO surge as companies lock in ambitious fundraising plans and investors reorient toward health-related equities.

(Source: TOI)