Unlisted Radar brings you a detailed, data-driven look at the “Integris Medtech Limited Unlisted Share Price” and the investment opportunity in this leading MedTech platform’s public issue.
India’s Booming Unlisted and IPO Market
India’s capital markets are witnessing record interest in pre-IPO opportunities and unlisted shares, as investors seek access to high-growth companies before their public listing. Medical technology and healthcare are priority sectors, drawing global institutional interest as the country pushes for leadership in innovation and localized manufacturing.
Integris Medtech Limited’s upcoming IPO filing with SEBI stands out due to its rapid recent expansion, industry leadership, and potential to benefit from global MedTech trends and Indian healthcare reforms.
About Integris Medtech Limited
Company Background
- History: Integris Medtech Limited, formerly Integris Health Private Limited, was incorporated in April 2008. Over the past decade, it has transformed into one of India’s leading diversified MedTech platforms through organic growth and strategic acquisitions.
- Promoters: Key promoter entities include Evercure Holdings Pte. Ltd, Medicore Holdings Pte. Ltd, Gurmit Singh Chugh, and Punita Sharma.
- Business Model: The company operates primarily in two business segments:
- Cardiovascular Devices: Manufacturing and marketing coronary stent systems (including drug-eluting stents and accessory devices).
- Diagnostics/Lab Solutions: Trading and distribution of chemicals, laboratory equipment, and in-vitro diagnostic products, with a focus on recurring, high-margin reagent sales and service contracts.
- Presence: Integris Medtech serves over 60 countries, leveraging state-of-the-art manufacturing, R&D investments, and a series of acquisitions spanning Southeast Asia, Europe, and India.
- Scale and Milestones:
- Largest Indian MedTech company offering Class I, II, and III devices.
- Over 15 acquisitions; second-largest revenue in Indian MedTech as of FY 2025.
- Only domestic company with a US FDA-approved drug-eluting stent and extensive long-term clinical safety data.
Financial Overview: Revenues, Earnings, and Growth
Integris Medtech experienced rapid topline growth, with a pivot to profitability in FY 2025 aided by strategic acquisitions.
| Fiscal Year | Revenue from Operations (INR mn) | EBITDA (INR mn) | Net Profit/(Loss) (INR mn) | YoY Revenue Growth (%) |
|---|---|---|---|---|
| 2022-23 | 13,481.04 | See notes | (405.41) | – |
| 2023-24 | 15,533.82 | See notes | (48.84) | 15.2 |
| 2024-25 | 19,024.66 | See notes | See notes | 22.5 |
| Q1 2025 | 4,852.54 | See notes | See notes | – |
Revenue CAGR (FY23-FY25): ~19.1%
Profitability: The company turned profitable in Q1 FY26 and FY25, primarily driven by an exceptional gain; without it, underlying profitability would be weaker.
International Exposure: Over 64% of revenue is from non-India markets, adding to growth but also exposing the company to global regulatory and currency risks.
EBITDA: Margins and adjusted EBITDA numbers are detailed in the full financials; the company highlights strong operational leverage post-acquisition.
Market Position & Investment Opportunities
Industry Outlook
The Indian MedTech sector is growing at a ~26% CAGR (2023-2025), fueled by rising healthcare expenditure, government incentives, and demand for innovative devices.
Integris Medtech is one of only two Indian companies with end-to-end capability across Class I, II, and III devices and holds the second-largest share of the drug-eluting stents market in India.
Major industry drivers include the rise in chronic diseases, increased health insurance penetration, government support (PLI schemes), and robust export demand.
Competitive Edge
- Strong track record of international certifications, including US FDA and CE approvals.
- Deep pipeline of new product launches, especially in cardiovascular and diagnostic segments.
- Successful integration of recent acquisitions, diversifying revenue across geographies and product categories.
- Direct competitors include Sahajanand Medical Technologies, Micro Life Sciences, and Trivitron, as well as global majors such as Abbott and Boston Scientific.
| Company | # Acquisitions | Class I, II, III Devices | FY25 Operating Revenue (INR mn) |
|---|---|---|---|
| Integris Medtech Limited | 15 | Yes | 19,024.66 |
| Sahajanand Medical Tech | 3 | Class III only | See prospectus |
| Trivitron Healthcare | 3 | Class I/II | See prospectus |
| Micro Life Sciences | 0 | Yes | See prospectus |
Risks & Challenges
Regulatory
- Heavy dependence on international certifications and regulatory approvals; delays or denials can affect market access.
- History of technical non-compliance under FEMA for indirect foreign investment reporting (now under process for regularization).
- Complex cross-jurisdiction operations expose the company to multi-country compliance and ethical business requirements.
Operational & Financial
- Losses in FY23 and FY24; true ongoing profitability for core business is sensitive to one-off gains from investment disposals.
- Integration risks from recent and future acquisitions.
- Manufacturing concentration in Dehradun, India—any local disruption can impact output and supply continuity.
Market & Competitive
- Pricing pressure from both Indian and international competitors.
- Rapid technology shifts require continued R&D spend to stay relevant.
- Potential for grey market and counterfeit risks, especially in high-volume segments.
Investment Insights
Integris Medtech Limited’s unlisted shares offer exposure to a rare, Indian-origin global MedTech platform. The company’s expanding footprint, innovative R&D, and leadership in regulated markets make it a strong medium-to-long-term prospect for investors looking at “investment opportunities in unlisted companies” and “upcoming unlisted shares in India.” However, short-term gains will depend on how the market values recent exceptional profit items and the company’s ability to deliver organic profitability.
- Listing Gains: Short-term IPO listing gains are possible given sectoral tailwinds and scarcity value, but long-term returns will require sustained margin improvement and successful integration of new businesses.
- Long-Term Opportunity: As India’s MedTech ecosystem matures, Integris Medtech is poised to benefit from premiumization, higher foreign direct investment, and increased demand across Asia and emerging markets.
Integris Medtech Limited Unlisted Share Price: Market Trends
Current “Integris Medtech Limited Unlisted Share Price” fluctuates based on private transactions. For the latest price and liquidity, connect with reputed unlisted share dealers.
Trends in the broader unlisted share market show strong interest in pre-IPO healthcare/MedTech plays, with increasing institutional involvement and improving disclosure standards.
FAQs
- What is Integris Medtech Limited’s unlisted share price today?
The price varies with demand and supply. Contact trusted brokers for the most recent transaction data. - How to buy Integris Medtech Limited unlisted shares?
These shares are available through specialist dealers in India’s grey market. Ensure transactions are routed via SEBI-registered intermediaries. - Is Integris Medtech Limited a good investment before IPO?
For investors with a risk appetite, the company offers scale, a global presence, and leadership in regulated MedTech products. Assess your horizon and risk tolerance before investing. - When will Integris Medtech Limited IPO launch?
The SEBI filing is in process. Track updates on Unlisted Radar for official timelines. - What are the risks of investing in Integris Medtech Limited unlisted shares?
Major risks include regulatory/compliance issues, profitability volatility, acquisition integration, and sensitivity to global healthcare trends. - Which brokers deal in Integris Medtech Limited unlisted shares?
Reputed boutique investment firms, select equity brokers, and some wealth advisors offer access—always verify credentials. - What is the lot size in the IPO?
Details will be announced in the Red Herring Prospectus and IPO advertisements. - How does Integris Medtech Limited compare with competitors?
It is a leader in product diversification and global certifications, but faces competition on price and innovation from both Indian and MNC peers.
Stay tuned to Unlisted Radar for ongoing updates on “upcoming unlisted shares in India” and exclusive research on “investment opportunities in unlisted companies.”