Inventurus Knowledge Solutions Ltd., the parent company of healthcare solutions provider IKS Health, has set the price band for its upcoming initial public offering in the range of Rs 1,265 to Rs 1,329 per share, according to a company statement on Monday. Bids can be made for a minimum of 11 shares, and then in multiples thereof.
The Rekha Jhunjhunwala-backed company has a price-to-earnings ratio of 60 times for the fiscal ended March 2024 at the upper end of the price band, the statement said.
The maiden public issue is a purely offer for sale play, where 38 shareholders will offload nearly 1.88 crore shares in the IPO, to raise around Rs 2,497.92 crore at the cap price for the issue. While Jhunjhunwala is not among the selling shareholders, Aryaman Jhunjhunwala Discretionary Trust, Aryavir Jhunjhunwala Discretionary Trust, and Nishtha Jhunjhunwala Discretionary Trust will each sell 11.19 lakh shares in the offer.
Anchor investors can bid for the IKS Health IPO on Dec. 11. The offer will open for other investors to bid on Dec. 12, and close on Dec. 16.
ICICI Securities Ltd., Jefferies India Pvt., JM Financial Ltd., JPMorgan India Pvt., and Nomura Financial Advisory and Securities (India) Pvt. are the lead bookrunners for the IPO.
Business
Inventurus Knowledge Solutions, through its brand IKS Health, offers technology-enabled healthcare solutions for physician enterprises in the US, Canada and Australia.
As of Sept. 30, 2024, the company has 778 healthcare organisations among its clientele, with Mass General Brigham Inc., Texas Health Care PLLC, and The GI Alliance Management as its key clients.
With its focus on the US market, the company intends to capitalise on the growth in its addressable market in the nation, which is expected to rise to $323 billion by 2028.
For the fiscal ended March 2024, the company reported a net profit of Rs 370.49 crore, compared with a revenue of Rs 1,817.93 crore. In the first half of the current fiscal, it's bottom-line stood at Rs 208.58 crore, against a topline of Rs 1,282.88 crore.
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