Inventurus Knowledge Solutions' Rs 2,498 Cr IPO To Open On Dec 12

Inventurus Knowledge Solutions Ltd, which provides healthcare support services, on Monday set a price band of Rs 1,265-1,329 per share for its Rs 2,498-crore initial public offering (IPO). The initial share sale will be open for public subscription from December 12 to December 16, with bidding for anchor investors scheduled for December 11, the company announced.

The company has reduced its issue size, which now comprises an Offer For Sale (OFS) of 1.88 crore equity shares by promoters and individual shareholders, with no fresh issue component. Earlier, the OFS size was 2.82 crore, as per the draft papers. The company has reserved 65,000 shares worth Rs 8.64 crore for its employees. Since the issue is completely an OFS, the company will not receive any proceeds from the IPO and the entire fund will go to shareholders.

At present, promoters and promoter group entities hold close to 70 per cent stake in the company, which is backed by Rekha Jhunjhunwala and RARE Enterprises. At the upper price band, the company's IPO is estimated at Rs 2,498 crore, placing its market capitalisation at over Rs 22,800 crore. The company in its IPO papers stated that the objective of the initial share sale is to gain the advantages of listing the equity shares on the stock exchanges. Additionally, the company anticipates that listing the equity shares will boost its visibility and brand image, provide liquidity to its shareholders, and establish a public market for the equity shares.

The company said that 75 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors. Investors can place bids starting with a minimum of 11 shares and in multiples of 11 thereafter. Inventurus Knowledge Solutions Ltd is a technology-enabled healthcare solutions provider and a care enablement platform assisting physician enterprises in the US, Canada and Australia, with a focus on the US markets.

The company is a leading partner for outpatient and inpatient care organisations and has over 800 healthcare organisations as clients, including health systems, academic medical centres, multi-specialty medical groups, single-specialty medical groups and ancillary healthcare organisations as of March this year.

In 2023, Inventurus Knowledge Solutions acquired Aquity Holdings, a company engaged in technology-enabled clinical documentation, medical coding and revenue integrity solutions for healthcare. ICICI Securities Ltd, Jefferies India Private Ltd, JM Financial Ltd, JP Morgan India Private Ltd and Nomura Financial Advisory and Securities (India) Private Ltd are the book-running lead managers to the issue. The equity shares of the company are expected to be listed on the BSE and NSE on December 19.

(PTI)