Inventurus Knowledge Solutions is likely to finalize the basis of allotment of its shares on Tuesday, December 17. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Wednesday, December 18. The healthcare solutions provider saw a strong response from the investors during the three-day bidding.
The IPO of Mumbai-based Inventurus Knowledge Solutions was open for bidding between December 12 and December 16. It had offered its shares in the price band of Rs 1,265-1,329 per share with a lot size of 11 shares. The company raised a total of Rs 2,497.92 crore via IPO, which was entirely a fresh share sale of up to 1,87,95,510 equity shares.
The issue was overall subscribed a solid 52.68 times. The allocation for the qualified institutional bidders (QIBs) was subscribed 80.64 times The portion allocated for non-institutional investors (NIIs) was subscribed 23.25 times. Allocations for retail investors and employees were booked 14.55 times and 5.20 times, respectively, during the three-day bidding process.
The grey market premium (GMP) of Inventurus Knowledge Solutions has improved following a strong bidding from all categories of investors, attracting birds worth Rs 72,500 crore. Last heard, the company was commanding a premium of Rs 420-425 in the unofficial market, suggesting a listing for the investors of 32 per cent. The GMP stood around Rs 375 on the first day of bidding.
Incorporated in 2006, Inventurus Knowledge Solutions (IKS Health) provides services to healthcare enterprises such as handling administrative chores/work. It helps doctors and other healthcare providers by handling their paperwork and administrative tasks. IKS Health offers services such as clinical support, medical documentation management, virtual medical scribing and more.
Brokerage firms have mostly had a positive view on the issue but suggest it for a long-term subscription. They are positive on the company's leading market position, healthy financials, improving markets and unique business model. However, ongoing litigations and complete OFS nature of the issue may dent its prospects.
ICICI Securities, Jefferies India, JM Financial, JP Morgan India and Nomura Financial Advisory and Securities (India) are the book running lead managers of the Inventurus Knowledge Solutions IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed on Thursday, December 19 on both BSE and NSE.
Investors, who had bid for the issue of Inventurus Knowledge Solutions, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Inventurus Knowledge Solutions Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit search button
Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
1) Go to the web portal of Link Intime Limited
2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.