Jhunjhunwala-backed IKS Health IPO opens on December 12; check price band & other key details

The initial public offering (IPO) of Inventurus Knowledge Solutions opens for subscription to open on Thursday, December 12. The healthcare solutions provider will be offering its shares in the range of Rs 1,265-1,329 apiece. Investors can apply for a minimum of 11 equity shares and its multiples thereafter. Bidding for the issue will conclude on Monday, December 16.

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.

The IPO of IKS Health is 1,87,95,510 is entirely an offer-for-sale (OFS) by its promoters and existing shareholders. At the upper end of the price band, the company is looking to raise a total of Rs 2,497.92 crore via its IPO. Anchor book for the issue shall open on Wednesday, December 11.

Promoters Ashra Family Trust, Aryaman Jhunjhunwala Discretionary Trust, Aryavir Jhunjhunwala Discretionary Trust and Nishtha Jhunjhunwala Discretionary Trust along with other investors including Gautam Dhar, Joseph Benardello, Parminder Bolina, Shane Hsuing Peng, Berjis Minoo Desai and Jeffrey Phillip Freimark shall participate in the OFS issue.

IKH Health is a healthcare technology company that helps make it easier and faster for patients to get the care they need while reducing the administrative burden on healthcare providers. Inventurus Knowledge Solutions Limited offers a platform that enables healthcare enterprises in outpatient and inpatient care.

IKS serves over 778 healthcare organizations, including health systems, multi-specialty medical groups, and other outpatient and inpatient providers as of September 30, 2024. Key clients include Mass General Brigham, Texas Health Care PLLC, and The GI Alliance Management. The company is in the US, Canada, and Australia.

For the six months ended September 30, 2024, Inventurus Knowledge Solutions reported a net profit of Rs 208.58 crore with a revenue of Rs 1,294.61 crore. The company's bottomline stood at Rs 370.49 crore with a revenue of Rs 1,857.94 crore for the financial year 2023-24.

Inventurus Knowledge Solutions has reserved 65,000 equity shares for the eligible employees of the company. It has reserved 75 per cent of the net offer for the qualified institutional bidders (QIBs), while non-institutional investors (NIIs) will get 15 per cent of the allocation. Retail investors will have only 10 per cent of reservation in the IPO.

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.