Mumbai- based Transpact Enterprises Limited (TEL), incubated at SINE, IIT BOMBAY and CIIE,IIM Ahmedabad ,an ISO 13485-2016 and ISO 9001-2015 certified Start-up, listed its Equity Shares on September 5, 2019, on the Startup Platform of the Bombay Stock Exchange (BSE), making it a benchmark of becoming the 1st Startup listed on the newly launched BSE Startup Platform.
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 a 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.
The company’s product complies with CE marking, the essential requirements of health, safety and environmental protection legislation. Vestibulator is Transpact’s forerunner innovative solution for rehabilitation health care which provides vestibular stimulation required for neuro-developmental, sensory integration and vestibular therapy. Transpact Enterprises Ltd, Med-Tech startup Company, makes a product under the brand name of Vestibulator 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 centre of POSAT Foundation, Mumbai.
The vestibulator has several matrices and postures. It provides stimulations in all three planes of motions in crawling, kneeling, long sitting and chair sitting positions.”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 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.
The company partners with the Industrial Research and Consultancy Center (IRCC), IIT Bombay for continuous product innovation and Octaware Technologies, an SEI-CMMI Level 3 certified software development company to build its digital healthcare solution.