Indira IVF
| Private | |
| ISIN | 🆔 |
| Industry | Healthcare, Fertility, Assisted reproductive technology |
| Founded 📆 | 1988[1] |
| Founder 👔 | Ajay Murdia |
| Headquarters 🏙️ | , , India |
Number of locations | 150+ centres (2023) |
Area served 🗺️ | India, Nepal |
| Services | IVF, ICSI, IUI, Egg/Sperm Freezing, Donor Programmes, Genetic Testing |
| Revenue🤑 | ₹1,250 crore (FY23)[2]; ₹1,476.4 crore (FY24)[3] |
| Owner | BPEA EQT (majority stakeholder) |
| Members | |
Number of employees | |
| Parent | Indira IVF Hospital Pvt. Ltd. |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Indira IVF is an Indian fertility clinic chain specializing in assisted reproductive technology (ART), including in vitro fertilisation (IVF). Founded in 1988 by Dr. Ajay Murdia in Udaipur, Rajasthan, it operates as Indira IVF Hospital Pvt. Ltd. and maintains over 150 centres across India and Nepal as of 2023, making it the country’s largest fertility network by centre count.[1][4] Amid India’s infertility challenges, it has emerged as a significant ART provider, valued at US$1 billion in 2023.[5][6] In July 2023, BPEA EQT acquired a majority stake, and on 11 February 2025, it filed confidential IPO draft papers with SEBI.[7][8]
History
Founded in 1988 by Dr. Ajay Murdia, Indira IVF began offering IVF in Udaipur, Rajasthan, during the early adoption of ART in India.[1] It grew to over 150 centres by 2023, responding to rising infertility rates and demand for advanced treatments.[9][6] In January 2023, Bloomberg News reported a potential sale valuing it at US$1 billion, reflecting its market prominence.[5] In July 2023, BPEA EQT acquired a 60-65% stake from TA Associates for an estimated US$1.1 billion, one of India’s largest healthcare deals that year.[2] In April 2024, the Competition Commission of India (CCI) approved a merger with Spaceway Wellness Pvt. Ltd., involving a 26% stake.[10] In March 2024, it filed confidential IPO papers for a ₹3,500 crore offering, followed by an updated filing on 11 February 2025.[3][8]
In December 2023, Indira IVF partnered with Safetree to launch India’s first infertility insurance plan,[11] and announced plans to establish 25 mother-and-child healthcare centres.[12] In January 2025, the company expanded internationally by entering Nepal.[13] In February 2025, it filed confidential IPO draft papers with SEBI for ₹6,500 crore.[14]
Operations
Indira IVF offers ART services including IVF, intracytoplasmic sperm injection (ICSI), intrauterine insemination (IUI), egg and sperm freezing, donor programmes, and genetic testing.[6] Its network spans over 20 Indian states and Nepal, with a Kathmandu centre opened in 2024, targeting both urban and semi-urban areas.[4][1]
Regulation and Engagement
Dr. Nitiz Murdia, a director, serves on the National Assisted Reproductive Technology and Surrogacy Board, influencing ART policy in India.[15] The sector faces scrutiny over costs (typically ₹1-2 lakh per IVF cycle) and success rate transparency, though no specific lawsuits against Indira IVF are widely documented.[16][17]
References
- ↑ 1.0 1.1 1.2 1.3 Suvarna, Anuj. "BPEA EQT to acquire controlling stake in Indira IVF; TA Associates to exit". VCCircle. Retrieved 16 March 2025.
- ↑ 2.0 2.1 Balakrishnan, Reghu (28 July 2023). "Baring PE Asia to pick up 60-65% stake in Indira IVF". The Economic Times. Retrieved 18 March 2024. Unknown parameter
|url-status=ignored (help) - ↑ 3.0 3.1 Mohan, Ashwin (14 March 2024). "EQT-backed Indira IVF makes confidential filing for ₹3,500 crore IPO". Moneycontrol. Retrieved 18 March 2024. Unknown parameter
|url-status=ignored (help) - ↑ 4.0 4.1 "Indira IVF announces international foray, inaugurates hospital in Kathmandu, Nepal". ETHealthworld.com. Retrieved 16 March 2025.
- ↑ 5.0 5.1 Baiju, Kalesh. "Indira IVF's Owners Weigh Stake Sale at $1 Billion Valuation". Bloomberg News. Retrieved 17 March 2025. Unknown parameter
|url-status=ignored (help) - ↑ 6.0 6.1 6.2 PTI, Press Trust of India (21 July 2024). "India staring at infertility crisis, may alter population dynamics, says top IVF chain Founder". The Economic Times. Unknown parameter
|url-status=ignored (help) - ↑ "BPEA picks up controlling stake in Indira IVF, TA Associates to exit". Livemint. 28 July 2023.
- ↑ 8.0 8.1 BHATTACHARYA, AGNIDEV (11 February 2025). "Indira IVF IPO: EQT-Backed Fertility Clinic Confidentially Files Draft Papers". NDTV Profit. Retrieved 21 March 2025. Unknown parameter
|url-status=ignored (help) - ↑ "How climate change impairs reproductive health". India Today. 8 January 2025. Retrieved 17 March 2025.
- ↑ "CCI gives nod to Kedaara Capital's stake buy in Lenskart; Zonnebaar's majority stake in Indira IVF". Fortune India. 11 October 2023. Retrieved 18 March 2025. Unknown parameter
|url-status=ignored (help) - ↑ Thevar, Steffy (17 December 2023). "Indira IVF partners with Safetree to introduce India's first infertility insurance plan". Times of India. Unknown parameter
|url-status=ignored (help) - ↑ Rojan, Neethi (28 December 2023). "Indira IVF plans aggressive expansion into child and maternal healthcare". Moneycontrol. Unknown parameter
|url-status=ignored (help) - ↑ "Indira IVF makes global foray into Nepal". The Hindu BusinessLine. 8 January 2025.
- ↑ Modak, Samie (11 February 2025). "EQT-backed Indira IVF confidentially files draft papers for Rs 6,500 cr IPO". Business Standard.
- ↑ "Centre names Dr Nitiz Murdia as member of National Assisted Reproductive Technology and Surrogacy Board". ETHealthworld.com. Retrieved 16 March 2025.
- ↑ Bajeli-Datt, Kavita (30 July 2024). "Rising issue of male infertility in India". The New Indian Express. Retrieved 18 March 2025. Unknown parameter
|url-status=ignored (help) - ↑ "Voices from Health Care Providers: Assessing the Impact of the Indian Assisted Reproductive Technology (Regulation) Act, 2021". Journal of Obstetrics and Gynecology of India. 31 August 2023. Retrieved 21 March 2025.
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