Can you tell me about the IPO of Skanray Technologies?
Answer
Answer
The latest to file a draft prospectus with SEBI for an IPO is Skanray Technologies Ltd. The company manufactures medical devices like X-ray devices and ICU ventilators. The proposed issue size is estimated to be around Rs.400 crore, which will be a mix of fresh issue and offer for sale.
The offer for sale will provide partial exit to private equity investor, Ascent Capital. Skanray operates two US FDA-approved manufacturing facilities located at Mysuru, in Karnataka and in Bologna in Italy. The IPO is expected to happen in the next couple of months and the company is already a profit making company in a niche market.