The IPO of Inventurus Knowledge Solutions Limited (IKS Health) has attracted significant interest from investors, with the issue being subscribed 3.57 times as of December 16, 2024, the third and final day of bidding. The public offering, aiming to raise approximately ₹2,498 crore, has seen strong participation from retail investors and institutional buyers alike, signaling optimism for the company’s future prospects.
The IPO of Inventurus Knowledge Solutions Limited (IKS Health), backed by prominent investor Rekha Jhunjhunwala, is off to a solid start. As of December 16, 2024, the third and final day of bidding, the issue has been subscribed 3.57 times, with strong interest across various investor categories. The company’s public offering, which aims to raise approximately ₹2,498 crore, is gaining attention in the market due to its strong fundamentals and backing by key investors like Rekha Jhunjhunwala.
Subscription Details: A Strong Response
The subscription figures for the Inventurus Knowledge Solutions IPO are impressive, with the issue attracting significant demand across different investor segments.
- Retail Investors: Retail investors have shown overwhelming interest, with the portion allocated to them being subscribed 5.8 times. This reflects strong confidence from individual investors in the company’s growth prospects.
- Non-Institutional Investors (NIIs): High Net-Worth Individuals (HNIs) and other non-institutional investors also demonstrated strong interest, with their reserved portion being subscribed 5.4 times.
- Qualified Institutional Buyers (QIBs): The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 1.9 times, highlighting solid backing from institutional investors.
- Employee Portion: The employee category was also subscribed 2.59 times, further reflecting the company’s internal confidence in its offerings.
This diverse demand indicates robust market interest in the IPO, which is expected to be a key factor in determining the company’s listing performance.
Pricing and Issue Structure
The Inventurus Knowledge Solutions IPO is a book-built issue, offering a total of 1.88 crore shares, all as an offer-for-sale. This means the company will not receive any proceeds from the issue, with all funds (net of offer-related expenses) being directed to the selling shareholders. The IPO is priced within a band of ₹1,265 to ₹1,329 per share, with a face value of ₹1 per equity share.
The issue’s offering structure includes:
75% for Qualified Institutional Buyers (QIBs)
15% for High Net-Worth Individuals (HNIs)
10% for Retail Investors
The company aims to raise ₹2,498 crore through this issue, which will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The final allotment of shares is expected to be finalized by December 17, with the listing date scheduled for December 19, 2024.
Grey Market Premium (GMP) Suggests Positive Listing Outlook
Adding to the excitement around the Inventurus Knowledge Solutions IPO is the strong grey market premium (GMP). As of now, the GMP stands at ₹405 per share, which translates to an expected 30% premium over the upper price band of ₹1,329. This signals a positive listing outlook for the company, with market participants anticipating strong demand once the stock begins trading.
The GMP has been steadily rising, and at ₹405, it is approaching its highest level of ₹422. This has further fueled investor optimism, suggesting that the IPO is likely to list at a significant premium to its issue price.
About Inventurus Knowledge Solutions: A Leading Healthcare Services Provider
Founded in 2006, Inventurus Knowledge Solutions Limited (IKS Health) is a leading player in the healthcare technology sector. The company provides a wide range of administrative and support services to healthcare enterprises, helping healthcare providers focus on patient care rather than getting bogged down by paperwork and administrative tasks.
IKS Health’s services include:
Clinical Support: Providing assistance in patient care and clinical processes.
Medical Documentation Management: Handling the documentation and paperwork associated with medical services.
Virtual Medical Scribing: Offering remote medical scribing services to help healthcare professionals streamline their documentation work.
By focusing on these core services, IKS Health aims to reduce the administrative burden on healthcare providers, thus improving efficiency and enhancing access to care for patients.
Impressive Financial Performance
Inventurus Knowledge Solutions has shown robust growth in its financial performance, further adding to investor confidence in the IPO. In FY 2024, the company reported a significant surge in revenue, which rose to ₹1,817.93 crore, up from ₹1,031.30 crore in FY 2023. The company’s net profit also saw an impressive increase, growing from ₹305.23 crore in FY 2023 to ₹370.49 crore in FY 2024. These figures reflect the company’s strong operational performance and its ability to capitalize on the growing demand for healthcare technology and services.
Key Promoters and Investors
The promoters behind Inventurus Knowledge Solutions include well-known figures such as Sachin Gupta and Rekha Jhunjhunwala. Other notable promoters include the Aryaman Jhunjhunwala Discretionary Trust, Aryavir Jhunjhunwala Discretionary Trust, and Nishtha Jhunjhunwala Discretionary Trust. Rekha Jhunjhunwala, the wife of the late Rakesh Jhunjhunwala, has a significant presence in the Indian investment space, and her backing has provided additional credibility to the IPO.
A Strong IPO with Positive Prospects
The Inventurus Knowledge Solutions IPO has garnered a strong response from investors, with significant oversubscription across all categories. The company’s solid financial growth, strong backing from notable investors, and a promising outlook in the healthcare technology space make this IPO an attractive opportunity for investors.
With a solid track record, a strong subscription response, and a positive grey market premium, Inventurus Knowledge Solutions is expected to have a successful listing. Investors who have participated in the IPO can look forward to seeing how the stock performs once it begins trading on the BSE and NSE on December 19, 2024.
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