Inventurus Knowledge Solutions IPO: The Rs 2,497.92 crore was fully subscribed on the first day of its bidding. The second day of subscription is open on December 13 and will close on December 16, due to the weekend holiday on December 14 and 15. The latest grey market premium (GMP) of the IPO hints at a strong double-digit listing on BSE and NSE.
As per the latest update on NSE, the IPO received bids of 1,40,74,698 equity shares, against its offered size of 1,03,66,780 equity shares - registering a full subscription of 1.36x. The portion kept for retail individual investors oversubscribed by 1.67 times, followed by full subscription of 1.54x by qualified institutional buyers. The portion for non-institutional investors (NII) subscribed by 79% of its allocation.
The second day bidding will open at 10:00 am and close on 5:00 pm.
Inventurus Knowledge Solutions IPO Details:
The IPO is 100% book building and opened on December 12. The subscription in the IPO will be allowed till December 16. Notably, investors cannot subscribe to the IPO on December 14th and 15th as it is market holiday.
The price band for the IPO is fixed at Rs 1265 apiece to Rs 1329 apiece with face value of Re 1 each. Bid lot size is at 11 Equity Shares and in multiples thereof equity shares.
ICICI Securities Limited, Jefferies India Private Limited, JM Financial Limited, J.P. Morgan India Private Limited, and Nomura Financial Advisory and Securities (India) Private Limited are acting as book running lead managers for the IPO. While Link Intime India is the registrar.
Inventurus Knowledge Solutions IPO GMP Today:
As per Investor Grain, Inventurus Knowledge Solutions IPO last GMP is Rs 375, last updated Dec 13th 2024 08:24 AM. With the price band of 1329.00, Inventurus Knowledge Solutions IPO's estimated listing price is Rs 1704 (cap price + today's GMP). The expected percentage gain/loss per share is 28.22%.
After the IPO, the basis of allotment will likely be carried on December 17, followed by initiation of refund or credit of shares to demat account on December 18. The listing date is tentatively on December 19, 2024.
Should You Subscribe Inventurus Knowledge Solutions IPO?
According to Choice Broking, IKSL is a technology-driven healthcare solutions provider offering a care enablement platform to support physician enterprises in the US, Canada, and Australia, with a primary focus on the US market. It offers a comprehensive platform that enables healthcare enterprises across outpatient and inpatient care. With the acquisition of Aquity Holdings, the company has seen its clients increase which has positively impacted both revenue and profitability.
Choice Broking's note added, "There are no comparable peers having a business model similar to IKSL. At a higher price band, IKSL is demanding an EV/Sales of 9.7x, which appears to be aggressively priced. The company operates in a niche within the U.S. healthcare industry, positioning itself as a solutions provider. Management believes there is significant growth potential in this sector, as the U.S. healthcare market is vast. With consistent performance and strong relationships with major clients, IKSL appears well-positioned for long-term growth. However, the valuation raises concerns, and thus, we recommend a "Subscribe For Long Term" rating for this issue."
Further, KR Choksey said, "At the upper end of its IPO price band of INR 1,329, the company is valued at 61.6x P/E, the valuation looks attractive given the growth history, and prospects, supported by high-margin operations, robust technological differentiation, and an asset-light business model. The company's strong fundamentals, scalable solutions, and alignment with evolving healthcare needs position it as a growth-focused and sustainable investment. Hence, we assign a 'SUBSCRIBE' rating."
On the other hand, SMC Global Securities has given a 2 rating out of 5 on Inventurus.
SMC's note highlighted with the scalable platform and layered infrastructure that captures several pain points of healthcare providers, the company is well-positioned to capitalise on this growing market opportunity and address the increasing demand for a healthcare provider-enablement platform. However, Its revenues are primarily dependent on revenue generated from healthcare organizations based in the United States, and as a result, it is subject to the risks of sector and geographic concentration.
About Inventurus Knowledge Solutions:
Incorporated in 2006, Inventurus Knowledge Solutions Limited (IKS Health) specializes in providing comprehensive support services to healthcare enterprises, focusing on reducing the administrative burden on healthcare providers.
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