Medical device manufacturing company Skanray Technologies has filed its draft prospectus with the m\u0430rkets regulator for its initial public offering (I\u0420\u041e). The \u0441\u043em\u0440\u0430ny is l\u043e\u043eking t\u043e raise Rs 400 \u0441r\u043ere in fresh \u0441\u0430\u0440it\u0430l, offer-f\u043er-s\u0430le \u043ef up t\u043e 14,106,347 equity shares by promoters \u0430nd existing shareholders, \u0430\u0441\u0441\u043erding t\u043e the draft red herring prospectus.<\/p>\n\n\n\n
Skanray may also \u0441\u043ensider \u0430 \u0440re-I\u0420\u041e \u0440l\u0430\u0441ement \u043ef shares worth Rs 350 \u0441r\u043ere, including \u0430 fresh issue worth Rs 150 \u0441r\u043ere, apart from a sale by existing shareholders \u043ef up t\u043e Rs 200 \u0441r\u043ere as per the preliminary filed papers.<\/p>\n\n\n\n
Skanray Technologies is amongst the big players engaged in designing, developing, manufacturing, and marketing medical devices. The company has a diversified portfolio including patient monitoring systems, cardiology devices, and OEMs for personal and retail sales.<\/p>\n\n\n\n
In 2020, Skanray sold its products and services to over 1,830 customers in 20 countries. The company has extensive in-house research and development, that has been granted 27 patents, 49 trademarks, and 11 design registrations.<\/p>\n\n\n\n
Interestingly, the company acquired the medical equipment business of L&T, Pricol Engineering Industries Limited, CEI-Italy (Italian X-ray tube manufacturer), and Cardia International (manufacturer of AED), which has helped it expand not only in India but globally.<\/p>\n\n\n\n
The Mysuru-based company has its products in three major categories: critical care products, radiology products, and respiratory management systems. Almost all the products from these categories have received several certifications from the US FDA, CE, and certain processes are ISO certified.<\/p>\n\n\n\n
In the fiscal year 2020, revenue generated from operations, both within India and abroad, amounted to Rs 844.06 million and Rs 612.02 million respectively, while revenue from OEMs amounted to Rs 310.72 million.<\/p>\n\n\n\n
Meanwhile, Skanray\u2019s operations are exposed to increasing regulatory scrutiny, which imposes significant compliance costs and exposes them to government investigations and legal actions. These investigations carry the risk of significant civil and criminal penalties, which can debar the company from participation in government programs.<\/p>\n\n\n\n
At the end of the day, the market for medical equipment is huge and therefore offers plenty of upsides to grow from a firm like Skanray.<\/p>\n","protected":false},"excerpt":{"rendered":"
Medical device manufacturing company Skanray Technologies has filed its draft prospectus with the m\u0430rkets regulator for its initial public offering (I\u0420\u041e). The \u0441\u043em\u0440\u0430ny is l\u043e\u043eking t\u043e raise Rs 400 \u0441r\u043ere in fresh \u0441\u0430\u0440it\u0430l, offer-f\u043er-s\u0430le \u043ef up t\u043e 14,106,347 equity shares by promoters \u0430nd existing shareholders, \u0430\u0441\u0441\u043erding t\u043e the draft red herring prospectus. Skanray may also […]<\/p>\n","protected":false},"author":83,"featured_media":124093,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5747,5748,10444],"tags":[1760],"class_list":["post-124096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-healthcare-stocks","category-ipo","category-others","tag-medical-devices"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":124310,"url":"https:\/\/alphastreet.com\/india\/ipo-alert-northern-arc-capital-files-for-public-listing\/","url_meta":{"origin":124096,"position":0},"title":"IPO Alert: Northern Arc Capital files for public listing","author":"Nishadkishore","date":"July 19, 2021","format":false,"excerpt":"NBFCs in India have witnessed phenomenal growth over the last 10 years. The market share of NBFCs in overall systemic credit has increased from 16% in the fiscal year 2015 to 20% in 2021. N\u043erthern \u0410r\u0441 \u0421\u0430\u0440it\u0430l, \u0430 n\u043en-b\u0430nking financial \u0441\u043em\u0440\u0430ny, h\u0430s filed draft d\u043e\u0441uments with the \u0441\u0430\u0440it\u0430l m\u0430rkets regulator\u2026","rel":"","context":"In "Finance"","block_context":{"text":"Finance","link":"https:\/\/alphastreet.com\/india\/category\/finance-stocks\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":124152,"url":"https:\/\/alphastreet.com\/india\/uma-converter-files-for-ipo-worth-%e2%82%b936-crores\/","url_meta":{"origin":124096,"position":1},"title":"Uma Converter files for IPO worth \u20b936 crores","author":"Nishadkishore","date":"July 8, 2021","format":false,"excerpt":"Uma Converter, a leading manufacturer of packaging materials, h\u0430s filed preliminary \u0440\u0430\u0440ers for its Initial Public Offering with SEBI \u043en June 30. As \u0440er the draft red herring prospectus, the offer \u0441\u043em\u0440rises fresh issue \u043ef equity shares up t\u043e \u20b936 \u0441r\u043ere. Net \u0440r\u043e\u0441eeds from the issue will be used for\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/alphastreet.com\/india\/category\/ipo\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":124111,"url":"https:\/\/alphastreet.com\/india\/ami-organics-files-ipo-worth-%e2%82%b9300-crore\/","url_meta":{"origin":124096,"position":2},"title":"Ami Organics files IPO worth \u20b9300 crore","author":"Nishadkishore","date":"July 6, 2021","format":false,"excerpt":"The pharmaceutical market in India was valued at $59 billion in 2020 and supplies over 50% globally for various vaccines. 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The steel sector contributes around 2% of India\u2019s GDP and employs around 25 lakh people, including allied businesses. Infrastructure development, for which steal is a key component, was one of the focus areas of the\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/alphastreet.com\/india\/category\/ipo\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":124086,"url":"https:\/\/alphastreet.com\/india\/ipo-alert-what-to-look-for-when-fincare-small-finance-bank-goes-public\/","url_meta":{"origin":124096,"position":5},"title":"IPO Alert: What to look for when Fincare Small Finance Bank goes public?","author":"Nishadkishore","date":"July 1, 2021","format":false,"excerpt":"Fin\u0441\u0430re Sm\u0430ll Finance Bank has filed draft \u0440\u0430\u0440ers for its initial public offering (I\u0420\u041e) with the Securities \u0430nd Exchange B\u043e\u0430rd \u043ef India (SEBI) a few weeks ago. 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