Rekha Jhunjhunwala-Backed IKS Health Lists At 43% Premium Over Issue Price
Inventurus Knowledge Solutions' IPO, which closed on Dec. 16, was subscribed 52.68 times, with demand led by qualified institutional buyers.
Shares of Rekha Jhunjhunwala-backed Inventurus Knowledge Solutions Ltd. debuted on the National Stock Exchange at Rs 1,900 apiece, at a premium of 42.96% over issue price of Rs 1,329. The stock listed on the BSE at Rs 1,856 per share, marking a premium of 39.65%.
Inventurus Knowledge Solutions' IPO, which closed on Dec. 16, was subscribed 52.68 times, with demand led by qualified institutional buyers. The IPO comprised a pure offer for sale worth Rs 2,497.92 crore.
The company, which runs the IKS Health healthcare brand, also raised Rs 1,120 crore from anchor investors a day before its IPO opened for bidding. The company allotted 84.2 lakh shares at Rs 1,329 apiece to 61 anchor investors, with domestic mutual funds securing 33.33% of the total allocation through 12 funds across 23 schemes. Post-IPO, the company’s shares will list on the mainboard exchanges—BSE and NSE.
ICICI Securities Ltd., Jefferies India Pvt., JM Financial Ltd., JPMorgan India Pvt., and Nomura Financial Advisory And Securities (India) Pvt. were the book running lead managers of the Inventurus IPO. Link Intime India Pvt. Ltd. was the registrar for the issue.
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Inventurus Knowledge Solutions Business
Inventurus Knowledge Solutions, a Navi Mumbai-based technology-enabled healthcare solutions provider, specialises in delivering a care enablement platform for physician enterprises across the US, Canada, and Australia, with a primary focus on the US market.
The firm's platform supports outpatient and inpatient care organisations in delivering clinical care, improving population health outcomes, and transitioning to the "fee for value" model. By partnering with healthcare organisations, Inventurus Knowledge Solutions helps optimise revenue, reduce operational costs, and drive efficiency in healthcare delivery.
The IPO is backed by Rekha Jhunjhunwala and RARE Enterprises. Rekha, who inherited a prominent stock portfolio from her late husband Rakesh Jhunjhunwala, has continued his legacy of significant investments in promising companies. The company filed its preliminary IPO papers in August and received approval from the markets regulator between Nov. 4 and Nov. 8.
