Portea Medical, Which Is Planning an IPO, Raises $20 Million Through a Rights Issue

The health tech startup raised $19.87 million (INR 165.8 crore) via a rights offering on April 16.

[{"selector":"#anim-d98476c2-1318-44eb-8cee-202c9e4691bf [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-15.218007011083081%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-2b986d68-960c-4b40-8d11-4f2649b27b33","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-71771501-67ab-448b-8f26-0c8ece49b046","keyframes":{"transform":["translate3d(0px, 252.40902%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Portea Medical, Which Is Planning an IPO, Raises $20 Million Through a Rights Issue

The health tech startup raised $19.87 million (INR 165.8 crore) via a rights offering on April 16.

Read more

Its IPO includes equity shares worth INR 200 crore and an offer for sale (OFS) of up to 56.25 million shares.

Read more

Portea’s board approved a special resolution to issue 69.2 million Series D1 compulsory convertible preference shares (CCPS) at an issue price of INR 23.96 per share.

Read more

The IPO consists of a fresh issue of equity shares worth INR 200 crore and an offer for sale (OFS) of up to 56.25 million shares.

Read more

This event comes at a time when the bourses are heating up for new-age tech companies, with many firms planning to enter the public market in FY24.

Read more

Furthermore, last week, the exchanges approved Peak XV-backed coworking space provider Awfis and B2B travel platform Travel Boutique Online.

businessoutreach.in