Transpact Enterprises Limited had opened its maiden IPO on August 26, 2019 with an issue size of 104,000 equity shares of Rs. 10 each for cash at a fixed price of Rs 130 per Equity Share. The IPO gets fully subscribed on Day 3. The net issue constituted 25.34% of the post-issue paid up capital of the company. The Company intends to use the net proceeds of the IPO offering primarily to acquire R&D facility and setting up a Registered Office on long term basis, conduct further clinical studies for new disorders; redemption of preferential shares and general working capital. The IPO was Lead Managed by Aryaman Financial Services Limited.
This Department for Promotion of Industry and Internal Trade (DPIIT), Government of India recognized this Company as a first start-up in the country to receive the regulatory approvals for listing at BSE Start-up Platform on 20th Aug 2019.
On the listing ceremony of the Company, Mr. Aslam Khan, Founder and Executive Director, Transpact Enterprises Limited said, “Transpact Enterprises today becomes the first ever listed Startup firm in India and this is a significant milestone in our long history and illustrious lifetime. The listing of Transpact at BSE-Startup makes it 3rd listing in a row for last 3 consecutive years, Octaware Technologies (BSE-SME) in 2017, RIDA Foundation (BSE-Sammaan) in 2018 and now Transpact as part of same group organization”. “This marks the beginning of a new chapter for our company and is testament to the faith our investors have reposed in us,” he said.
Mr Khan further said, “We are super excited with this innovation of “Vestibulator” and ecosystem built around it, which is well aligned with the “Make in India” vision of our Hon’ble Prime Minister. We hope to contribute in making India not only a developed nation with contribution in economic development but also inclusive society with the social impact. Our long term goal is “A compact and affordable home-version of Vestibulator in every home of special-need.”
“The Vestibulator is installed with a digital healthcare solution based on Internet of Things (IoT) to publish the clinical data to Azure Cloud for patient data analytics. The company partners with the Industrial Research and Consultancy Center (IRCC), IIT Bombay for continuous product innovation and Octaware Technologies, a SEI-CMMI Level 3 certified software development company to build its digital healthcare solution,” he added.
In her congratulatory message, Congratulations to the entire Transpact Enterprises team, Poyni Bhatt, CEO at SINE, the Technology Incubator at IIT Bombay, said, “This is a landmark in the Indian Startup sector where an entrepreneur can create an innovative firm based on IP from an academic institute like IITs supported under various government schemes, build and commercialize a product, and then moving high of going on stock exchange listing.”
Dr Maya Nanavati, Occupational Therapist and Managing Trustee of POSAT Foundation, said, “We are happy to be the part of the growth story of Transpact Enterprises and the multipronged clinical study in the arena of rehabilitation healthcare.” He later narrated that the Vestibulator provides specific and definitive stimulations yielding faster and qualitative results which enhances the course of treatment and recovery of Cerebral Palsy, Autistic, Attention Deficit Hyperactivity Disorder, Learning Disabilities patients.
Transpact Enterprises Ltd, SINE-IIT Bombay Incubated Med-Tech startup Company, makes product under the brand name of Vestibulator for vestibular rehabilitation, neurodevelopmental and Sensory Integration therapy for Cerebral Palsy, Autism Spectrum Disorder, Attention Deficit Hyperactivity Disorder, Learning Disabilities and Vertigo patients. The CE-Certified medical device is built based on IP from IIT Bombay co-patented with Transpact Enterprises and has received clearance from CDSCO, India. The first commercial Vestibulator is installed and demonstrating significant results at Rehabilitation center of POSAT Foundation, Mumbai.
