Shares of Inventurus Knowledge Solutions Ltd will be listed at the bourses today, after a successful IPO. The initial public offering of Rekha Jhunjhunwala and RARE Enterprises-backed Inventurus Knowledge Solutions was subscribed nearly 53 times. The ₹2,498-crore initial public offering (IPO) came out with a price band of ₹1,265 to ₹1,329, and the issue was priced at the upper end.
According to the market buzz, the stock is likely to be listed around ₹1,750-1,800.
The IPO was entirely an Offer-for-Sale (OFS) comprising 1.88 crore equity shares by the promoters and individual shareholders, with no fresh issue component.
The quota for QIBs or qualified institutional buyers was subscribed heavily by 80.64 times, followed by non-institutional investors by 23.25 times, and retail investors by 14.55 times. The employee portion was booked 5.2 times.
Earlier, the company, which provides healthcare support services, raised ₹1,120.18 crore from anchor investors as part of the IPO process. Inventurus Knowledge Solutions allotted 84.29 lakh equity shares to 61 funds at ₹1,329 apiece, including investors such as Fidelity Funds, Government Pension Fund Global, Abu Dhabi Investment Authority, Prudential Hong Kong, TIMF Holdings, HSBC Global, HDFC Mutual Fund (MF), Aditya Birla Sun Life MF, Axis MF, Mirae Asset, and WhiteOak Capital, according to a circular uploaded on BSE’s website.
The company said the objective of the initial share sale is to gain the benefit of listing on the stock exchanges. It anticipates that the listing will boost visibility and brand image, provide liquidity to shareholders, and establish a public market for the shares.
Inventurus Knowledge Solutions is a technology-enabled healthcare solutions provider, offering a care enablement platform that assists physician enterprises primarily 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, serving over 800 clients, including health systems, academic medical centres, multi-specialty and single-specialty medical groups, and ancillary healthcare organisations, as of March this year.
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
