Shares of Inventurus Knowledge Solutions are to make their Dalal Street debut on Thursday, Wednesday 19. The company is likely to list on the bourses with a healthy premium, if one goes by the signal from the grey market. The debut of three companies on Wednesday have also boosted morale.
Ahead of listing, Inventurus Knowledge Solutions were commanding a grey market premium (GMP) of Rs 420-425 in the unofficial market, suggesting a listing for the investors of 32 per cent. The GMP improved following a strong bidding from all categories of investors, attracting birds worth Rs 72,500 crore.
The IPO of Inventurus Knowledge Solutions was open for bidding between December 12 and December 16. It sold its shares in the price band of Rs 1,265-1,329 per share with a lot size of 11 shares. The Mumbai-based company raised a total of Rs 2,497.92 crore via IPO, which was entirely an offer-for-sale for 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.
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. ICICI Securities, Jefferies India, JM Financial, JP Morgan India and Nomura Financial Advisory and Securities (India) were the book running lead managers of the Inventurus Knowledge Solutions IPO, while Link Intime India served as the registrar for the issue.