Gaudium IVF to float IPO on Feb 20

New Delhi: Fertility services provider Gaudium IVF and Women Health Ltd is planning to raise funds to the tune of Rs 150 crore to Rs 200 crore through its initial public offering (IPO), which is expected to open on February 20, people familiar with the development said.

With this, it will become the first company in the sector to tap the public markets. The proposed offering com-prises a fresh issue of 1.14 crore equity shares and an offer-for-sale (OFS) of nearly 95 lakh equity shares by promoter Manika Khanna, according to the draft red herring prospectus (DRHP).

Proceeds from the fresh issue are intended for capital expenditure of Rs 50 crore to establish 19 new IVF centres across India, along with repayment or pre-payment of certain bor-rowings of Rs 20 crore, and for general corporate purposes.