Infinx Technology Solutions has appointed Kotak Mahindra Capital, Nomura and Avendus to manage its proposed $300 million initial public offering in India, targeting a listing in FY28. According to people familiar with the development as reported by TradingView News, the KKR and Norwest Venture Partners-backed healthcare IT firm is considering a combination of fresh share issuance and an offer for sale to raise the targeted amount. The company is currently in the process of finalizing the IPO structure and timeline with its investment bankers.
Founded in 2012 by brothers Sandeep and Jaideep Tandon, Infinx provides AI-powered revenue cycle management services to US healthcare providers. As reported by The Economic Times, the company's offerings include patient access, insurance verification, prior authorisation, medical coding, billing and collections, serving hospitals, health systems and physician groups. The company operates with teams across the US, India and the Philippines, with clients using its technology and services to manage administrative processes and improve payment recovery.
Infinx remained bootstrapped until 2021 when it raised its first institutional capital from Norwest Venture Partners. According to The Economic Times, KKR acquired a significant minority stake in the company in 2024 through its Asian Fund IV, with Norwest also participating in the transaction. The company has raised a total of $186 million to support expansion and fund acquisitions, including the $96 million acquisition of i3 Verticals' healthcare revenue cycle management business in May 2025.
Infinx joins several healthcare peers including ASG Hospital, Eclat Health Solutions, Knack RCM and AGS Health that are also reportedly planning share sales, as noted by The Economic Times. The healthcare IT sector is experiencing increased IPO activity, with multiple companies in the space considering public offerings to capitalize on market conditions and fund growth initiatives. The sector's IPO momentum continues to attract investor attention as companies seek to leverage favorable market conditions for their public market debuts.
