IKS Health IPO - Valuations, Issue Details, Financials, Key Strategies, Risks And More: DRChoksey

Deven Choksey Research Report

The Inventurus Knowledge Solutions Ltd. will launch its initial public offering on December 12 and the offer closes for subscription on Dec. 16. The window will be open between Dec. 12 and Dec. 16. The company has fixed price band in the range of Rs 1,265 to Rs 1,329 per share. 

The Rs 2,497.92-crore issue is an entirely offer-for-sale of 1.88 crore shares.

The share allotment of the issue is expected to be finalised on Dec. 17.

Outlook and Valuation:

IKS Health leverages its market leadership in healthcare operations and analytics, primarily in the U.S. With a focus on revenue cycle management, telehealth, and clinical data optimization, IKS employs proprietary technology to deliver scalable, cost-efficient, and high-impact solutions.

The company demonstrates strong client retention, with over 98.0% of revenue derived from repeat customers, underpinned by its "land and expand" strategy. The U.S. healthcare market's growth trajectory, combined with increasing reliance on outsourced services, offers significant expansion potential for IKS. At the upper end of its IPO price band of Rs 1,329, the company is valued at 61.6 times 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 growth-focused and sustainable investment. Hence, we assign a ‘Subscribe’ rating.

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