Inventurus Knowledge Solutions IPO: Rekha Jhunjhunwala-backed issue subscribed 1.36 times on day 1; Latest GMP
- Inventurus Knowledge Solutions IPO: Rekha Jhunjhunwala-backed issue was booked 1.36 times on the first day of subscription with the retail portion booked the highest.
Inventurus Knowledge Solutions IPO: The mainboard initial public offering (IPO) of Inventurus Knowledge Solutions Limited, backed by ace investor Rekha Jhunjhunwala, received a decent response from investors on the first day of subscription. The ₹2,498-crore worth public issue of the healthcare service provider hit India's primary market on Thursday, December 12, 2024, to open for its three-day subscription period. The issue will close on Friday.
Inventurus Knowledge Solutions Ltd has reserved not less than 75 per cent of the equity shares in the public issue for qualified institutional buyers (QIB), not more than 15 per cent for non-institutional Institutional Investors (NII), and not more than 10 per cent of the offer is reserved for retail investors. The employee portion has been reserved with upto 65,000 equity shares.
Follow Live Updates: Inventurus Knowledge Solutions IPO Day 1: Issue subscribed 1.36x on first day; check latest GMP
Inventurus Knowledge Solutions IPO Subscription Status
On the first day of subscription, Inventurus Knowledge Solutions IPO was subscribed 1.36 times by the end of the session. The portion reserved for retail investors was subscribed the highest at 1.68 times, the QIB portion was booked 1.54 times, and the portion reserved for NIIs was booked 79 per cent. The employee portion was booked 80 per cent. According to BSE data, the IPO received 1,40,86,897 share applications against 1,03,66,780 shares offered on Thursday.
Inventurus Knowledge Solutions IPO Latest GMP Today
According to investorgain.com, Inventurus Knowledge Solutions IPO latest GMP today is +375. This indicates Inventurus Knowledge Solutions share price was trading at a premium of ₹375 in the grey market. The GMP has declined compared to earlier sessions.
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 is indicated at ₹1,704 apiece, which is 28.22 per cent higher than the IPO price of ₹1,329. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
Inventurus Knowledge Solutions IPO Details
Inventurus Knowledge Solutions IPO organized as a book-built offering, providing a total of 1.88 crore shares, entirely through an offer-for-sale (OFS) component. The price band has been fixed in the range of ₹1,265 to ₹1,329 per equity share of the face value of Re 1.
The floor price and the cap price are 1,265 times and 1,329 times the face value of the equity shares, respectively. The price to earnings ratio based on diluted EPS for fiscal 2024 at the upper end of the price band is 60 times. The lot size is 11 equity shares and in multiples of 11 equity shares thereafter.
The selling shareholders in the IPO include 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 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.
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 secured ₹1,120.18 crore from 61 anchor investors at a price of ₹1,329 per equity share. At the upper price point, the company’s IPO is projected to be ₹2,498 crore, which would give it a market capitalization exceeding ₹22,800 crore. Currently, promoters and entities within the promoter group possess nearly 70 per cent of the company's shares, with support from Rekha Jhunjhunwala and RARE Enterprises.
The firm has decreased its offering size, which now consists of an OFS of 1.88 crore equity shares from promoters and individual investors, with no new issue portion included. Previously, the OFS was set at 2.82 crore, according to the draft documentation. As the offering is entirely an OFS, the company will not obtain any funds from the IPO, and all proceeds will go to the shareholders.
Inventurus Knowledge Solutions Company Details
Founded in 2006, Inventurus Knowledge Solutions (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. It 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. 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.
The promoters of the company include Sachin Gupta, Rekha Jhunjhunwala, the Aryaman Jhunjhunwala Discretionary Trust, the Aryavir Jhunjhunwala Discretionary Trust, and the Nishtha Jhunjhunwala Discretionary Trust.
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