Inventia Healthcare has filed draft papers with the Securities and Exchange Board of India to raise an estimated Rs 450 crore through an initial public offering.

The IPO comprises fresh issue of equity shares worth up to Rs 125 crore, besides, an offer of sale up to 31,64,000 scrips by promoters and other shareholders, according to the draft red herring prospectus (DRHP) filed with SEBI.

Promoters --- Janak Shah and Maya Shah -- and private equity fund Jacob Balls will sell shares via offer-for-sale.

Proceeds of the issue will be used for payment of outstanding borrowings availed by the company and for other general corporate purposes.

“Our company intends to strengthen its capital base and expects to receive the benefits of listing of its equity shares on the stock exchanges, including among other things, enhance our visibility and provide liquidity to our shareholders,” the company said.

According to merchant banking sources, the initial public offer is expected to fetch Rs 450 crore. ICICI Securities and Centrum Capital will manage the company’s initial share sale and the equity shares of the firm will be listed on the BSE and NSE.

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