Infinx Tech Plans $300 Million India IPO After Hiring Three Banks

what happened

Infinx Technology Solutions, a healthcare IT platform, has appointed Kotak Mahindra Capital, Nomura and Avendus to manage a proposed $300 million initial public offering in India. Moody's reports, citing people familiar with the matter, that the company is aiming for a listing in FY28.

According to the same report, the offering could combine newly issued shares with a sale of existing shares. KKR and Norwest Venture Partners back the company. Infinx provides revenue cycle management services to US healthcare providers, was founded in 2012, and operates teams in the US, India and the Philippines. It has raised $186 million in total.

Other Indian healthcare companies, including ASG Hospital, Eclat Health Solutions, Knack RCM and AGS Health, are also reportedly planning share sales. Representatives of Infinx, Kotak Mahindra Capital and Nomura did not respond to requests for comment.

why it matters

For markets, this points to a growing pipeline of IPOs in India's healthcare and IT sectors. A deal of this size is mainly of interest to local investors and the banks running it, and is unlikely to move major indices. Final terms have not been disclosed.

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