Inventurus Knowledge Solutions IPO Day 1: Issue fully booked; check subscription status and other key details

Healthcare solutions provider Inventurus Knowledge Solutions Ltd’s initial public offering (IPO) was fully subscribed on the first day of bidding on Thursday, December 12, on high retail demand.

The company, backed by Rekha Jhunjhunwala and RARE Enterprises, aims to raise a total of ₹2,497.92 crore through the maiden share sale.

As per the data available with the stock exchanges, the mainboard IPO received bids for more than 1.4 crore shares against 1.03 crore shares on offer. The issue was overall booked 1.36 times.

The retail portion of the IPO was booked 1.67 times, at the end of bidding on the first day at 5 pm. The retail investors submitted applications for more than 31.35 lakh shares against 18.73 lakh shares set aside for them. The Non-Institutional Investors (NIIs) category was booked 79% with bids for more than 22.09 lakh shares against 28.09 lakh shares on offer.

The Qualified Institutional Buyers segment was also fully subscribed with applications for more than 86.77 lakh shares against 56.19 lakh shares set aside for the category. The QIBs booked their quota 1.54 times.

The portion reserved for employees was booked 80%. The employees of the company applied for 52,085 shares against 65,000 shares set aside for them.

Inventurus Knowledge Solutions raises ₹1,120 crore from anchor investors

Inventurus Knowledge Solutions garnered ₹1,120 crore from anchor investors ahead of the launch of bidding by public investors.

The company allotted 84.29 lakh shares at a price of ₹1,329 per share, the upper end of the price band, to as many as 61 fund schemes.

Fidelity Funds, Abu Dhabi Investment Authority, Government Pension Fund Global, TIMF Holdings, Prudential Hong Kong, HDFC Mutual Fund (MF), HSBC Global, Axis MF, Aditya Birla Sun Life MF, Mirae Asset and WhiteOak Capital are among the anchor investors.

Inventurus Knowledge Solutions IPO details

Inventurus Knowledge Solutions IPO comprises an entirely offer-for-sale (OFS) component of 1.88 crore shares. Promoter entities and individual shareholders are divesting their stake in the company.

The company has set the price at ₹1,265 to ₹1,329 per share for the IPO. The minimum lot size is 11 shares and the minimum amount of investment required is ₹14,619 for retail investors.

Jefferies India, ICICI Securities, JM Financial, Nomura Financial Advisory And Securities (India) Pvt Ltd and JP Morgan India are the book-running lead managers of the Inventurus Knowledge Solutions IPO. Link Intime India Private Ltd is the IPO registrar.

Inventurus Knowledge Solutions IPO key dates

Inventurus Knowledge Solutions IPO is open for subscription from December 12 to December 16. The company is expected to finalise the IPO share allotment status on Tuesday, December 17.

The company has proposed to list its shares on the BSE and NSE on Thursday, December 19.

About Inventurus Knowledge Solutions

The company has stated that the initial share sale is aimed at gaining the advantages of listing on the stock exchanges. It expects that listing on bourses will boost its visibility and brand image as well as provide liquidity to its shareholders.

Inventurus Knowledge Solutions is a healthcare solutions provider and a care enablement firm. The company assists physician enterprises in the United States, Canada and Australia, but focuses on the US markets.

The company is a partner for outpatient and inpatient care organisations. It has more than 800 healthcare organisations as clients which include health systems, multi-specialty medical groups, academic medical centres, single-specialty medical groups and ancillary healthcare organisations as of March 2024.

In 2023, the company acquired Aquity Holdings, which is engaged in technology-enabled clinical documentation, medical coding and revenue integrity solutions.