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PremiumInventurus Knowledge Solutions IPO Day 3 Live Updates: The initial share offering of Inventurus Knowledge Solutions Ltd (IKS Health), a provider of healthcare support services, was subscribed 2.65 times by the end of the second day of bidding on Friday. The segment for Retail Individual Investors (RIIs) saw a subscription rate of 4.25 times, while the non-institutional investors' portion received 3.13 times subscription. The Qualified Institutional Buyers (QIBs) category drew a subscription rate of 1.89 times.
Inventurus Knowledge Solutions Ltd has raised ₹1,120 crore from its anchor investors. The IPO is set to end today, December 16. The price band for the offering is ₹1,265-1,329 per share.
The company's IPO consists solely of an Offer For Sale (OFS) of 1.88 crore equity shares from promoters and individual shareholders, without any fresh issue element.
The firm that is backed by Rekha Jhunjhunwala and RARE Enterprises, mentioned in its IPO documents that the purpose of the initial share offering is to leverage the benefits of listing its equity shares on stock exchanges. As of March this year, the company is a prominent partner for both outpatient and inpatient care providers and has more than 800 clients in the healthcare sector, including health systems, academic medical centers, multi-specialty medical groups, single-specialty medical groups, and ancillary healthcare organizations.
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Inventurus Knowledge Solutions IPO Day 3 Live: As of December 16, the grey market premium (GMP) for the Inventurus Knowledge Solutions IPO was at ₹421 per share.
With the upper price band for the IPO at ₹1,329 per share, the public issue is expected to be listed at ₹1,750 per share, a premium of 31.68 per cent.
Grey market premium (GMP) is an indicator which shows the investor's willingness to pay more for a public issue.
Inventurus Knowledge Solutions IPO Day 3 Live: The public issue of Inventurus Knowledge Solutions was subscribed 52.68 times on the final day of bidding. Investors subscribed for 54,61,01,853 shares, compared to the 1,03,66,780 shares available.
The QIB portion was subscribed 80.64 times the shares available. The NII portion was booked 23.25 times the shares on offer, and the retail investor portion was subscribed 14.55 times the shares available, according to BSE data on December 16.
Inventurus Knowledge Solutions IPO Day 3 Live: The Qualified Institutional Buyers (QIBs) portion received 80.64x subscription so far on the third day. The Non-Institutional Investors (NIIs) followed the QIB lead, coming in at 23.24 times the shares on offer.
The retail investors subscribed to the IPO 14.33 times the shares available, according to the BSE data.
Inventurus Knowledge Solutions IPO Day 3 Live: The public issue of Inventurus Knowledge Solutions has been subscribed 52.56 times on the second day, as of 4:12 p.m. on December 16.
Investors have subscribed for 54,49,04,305 shares, compared to the 1,03,66,780 shares on offer, according to the BSE data.
The company’s healthcare provider enablement platform helps healthcare providers focus more singularly on their core role of patient care while empowering healthcare organizations to thrive. The company takes on the chores of healthcare, spanning administrative, clinical, and operational services through its proprietary technology platforms so that physicians can focus on their core purpose of delivering patient care. Combining technology, dedicated resources, and clinically-trained employees, their solutions enable stronger and financially sustainable healthcare enterprises.
Key Offerings: Revenue Cycle Management (RCM), Telehealth Support, Provider Credentialing, Data Analytics, Clinical Documentation Improvement (CDI).
The company was incorporated as “Inventurus Knowledge Solutions Private Limited" on September 5, 2006. Sachin Gupta, Rekha Jhunjhunwala, Aryaman Jhunjhunwala Discretionary Trust, Aryavir Jhunjhunwala Discretionary Trust, Nishtha Jhunjhunwala Discretionary Trust are the promoters of the company. Currently, promoters hold 107,352,790 Equity Shares of face value of ₹ 1 each in aggregate, representing 62.57% of the issued, subscribed and paid-up Equity Share capital of the company.
The initial public offer of IKS Health IPO has been subscribed 31.45 times on the third day of subscription today, at 15:03 IST, as per BSE data.
The initial share sale received bid for 32,60,77,719 shares against 1,03,66,780 shares on offer, according to BSE.
The portion for retail investors received 12.20 times subscription while the quota for non-institutional investors got subscribed 20.34 times. The qualified institutional buyers (QIBs) part is booked 43.74 times. The employee portion has been subscribed 4.41 times.
At the upper end of its IPO price band of ₹1,329, the company is valued at 61.6x P/E, the valuation looks attractive given the growth history, and prospects, supported by high-margin operations, robust technological differentiation, and an asset-light business model. The company’s strong fundamentals, scalable solutions, and alignment with evolving healthcare needs position it as a growthfocused and sustainable investment. Hence, we assign a ‘SUBSCRIBE’ rating.
As of September 30, 2024, IKS Health supports 778 clients, including prominent names like Mass General Brigham Inc, Texas Health Care PLLC, and The GI Alliance Management.
The healthcare expenditure in US is anticipated to grow from US 4.8 tn in CY23 to USD 6.2 tn by CY28, exhibiting a CAGR of 5.3%. On the back of which, the total addressable market for US enablement technology solutions providers is expected to reach USD 323 bn by CY28 from USD 222 bn in CY23, growing at a CAGR of 7.8%. This growth potential will be driven by the widening supply demand gap of healthcare professionals, shrinking margins, adoption of value-based care and increase in healthcare consumerism.
The initial public offer of IKS Health IPO has been subscribed 8.45 times on the third day of subscription today, at 13:12 IST, as per BSE data.
The initial share sale received bid for 8,75,49,561 shares against 1,03,66,780 shares on offer, according to BSE.
The portion for retail investors received 9.13 times subscription while the quota for non-institutional investors got subscribed 12.87 times. The qualified institutional buyers (QIBs) part is booked 6.06 times. The employee portion has been subscribed 3.60 times.
At the upper price band of Rs.1329, IKSL is available at a P/E of 54.6x (on FY25 Annualised), which appears fairly priced. Considering its asset light and scalable model with high margin operations, diversified product offerings, significant expansion potential post acquiring Aquity Holdings, we recommend Subscribe rating to the issue on a medium to long term basis.
According to the red herring prospectus (RHP), there are no listed companies in India or abroad with a business portfolio similar to theirs or of comparable scale. As a result, a comparison with industry peers cannot be provided for their company.
The initial public offer of IKS Health IPO has been subscribed 5.65 times on the third day of subscription today, at 11:57 IST, as per BSE data.
The initial share sale received bid for 5,85,90,521 shares against 1,03,66,780 shares on offer, according to BSE.
The portion for retail investors received 7.47 times subscription while the quota for non-institutional investors got subscribed 9.21 times. The qualified institutional buyers (QIBs) part is booked 3.30 times. The employee portion has been subscribed 3.05 times.
The book running lead managers for the Inventurus Knowledge Solutions IPO include ICICI Securities Limited, Jefferies India Private Limited, Jm Financial Limited, J.P. Morgan India Private Limited, and Nomura Financial Advisory And Securities (India) Pvt Ltd, while Link Intime India Private Ltd serves as the registrar for the offering.
The initial public offering (IPO) for the healthcare solutions company is organized as a book-built offering, providing a total of 1.88 crore shares, entirely through an offer-for-sale (OFS) component.
The selling shareholders in the IPO include the following: the Ashra Family Trust, Joseph Benardello, Gautam Char, Parminder Boina, the Aryaman Jhunjhunwala Discretionary Trust, the Aryavir Jhunjhunwala Discretionary Trust, the Nishtha Jhunjhunwala Discretionary Trust, Jeffery Phillip Freimark, Shane Hsuing Peng, and Berjis Minoo Desai.
The initial public offer of IKS Health IPO has been subscribed 3.92 times on the third day of subscription today, at 11:12 IST, as per BSE data.
The initial share sale received bid for 4,06,36,563 shares against 1,03,66,780 shares on offer, according to BSE.
The portion for retail investors received 6.18 times subscription while the quota for non-institutional investors got subscribed 5.69 times. The qualified institutional buyers (QIBs) part is booked 2.30 times. The employee portion has been subscribed 2.74 times.
Founded in 2006, Inventurus Knowledge Solutions Limited (IKS Health) delivers services to healthcare organizations, focusing on administrative tasks. The company assists doctors and other healthcare providers by managing their paperwork and administrative responsibilities. IKS Health provides services including clinical support, management of medical documentation, virtual medical scribing, and more.
This healthcare technology firm aims to streamline and expedite patient access to necessary care while alleviating the administrative load on healthcare professionals.
Tentatively, Inventurus Knowledge Solutions IPO basis of allotment of shares will be finalised on Tuesday, December 17, and the company will initiate refunds on Wednesday, December 18, while the shares will be credited to the demat account of allottees on the same day following refund. IKS Health share price is likely to be listed on BSE and NSE on Thursday, December 19.
Inventurus Knowledge Solutions IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. The employee portion has been reserved upto 65,000 equity shares.
The initial public offer of IKS Health IPO has been subscribed 3.19 times on the third day of subscription today, at 10:21 IST, as per BSE data.
The initial share sale received bid for 3,31,18,569 shares against 1,03,66,780 shares on offer, according to BSE.
The portion for retail investors received 4.97 times subscription while the quota for non-institutional investors got subscribed 4.64 times. The qualified institutional buyers (QIBs) part is booked 1.89 times. The employee portion has been subscribed 2.15 times.
The brokerage has highlighted the company as a leading partner for outpatient and inpatient care organizations. Their healthy financial performance showcases growth along with improving margins, which is a positive indicator for potential investors. Notably, there are no listed peers for comparison, making it a unique proposition in the market.
In terms of the Offering for Sale (OFS), it's important to note that the company will not receive any proceeds from the IPO, which may affect its capital structure and financing capabilities moving forward.
Overall, the investment recommendation points towards suitability for long-term investors, suggesting that those looking for stable growth in the healthcare sector may find value in this opportunity.
Inventurus Knowledge Solutions Limited successfully raised Rs. 1,120.18 crores from 61 anchor investors, with each equity share priced at ₹1,329. A total of 8,428,730 equity shares were allocated to these investors. Notably, 2,809,577 equity shares, which represent 33.33% of the total allocation, were distributed among 12 domestic mutual funds through 23 different schemes.
Inventurus Knowledge Solutions IPO GMP today or IKS Health IPO GMP today is +405. This indicates Inventurus Knowledge Solutions share price was trading at a premium of ₹405 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Inventurus Knowledge Solutions share price is indicated at ₹1,734 apiece, which is 30.47% higher than the IPO price of ₹1,329.
According to the activities in the grey market over the last 11 sessions, today's IPO GMP is showing an upward trend, indicating a promising listing. The minimum GMP recorded is ₹0, while the maximum GMP observed is ₹422, based on insights from experts at investorgain.com.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
