Upcoming IPO: Rekha Jhunjhunwala-backed Inventurus Knowledge files DRHP to offload 2.82 cr shares via OFS

An addition to the list of upcoming initial public offerings (IPOs) is the issue to be launched by Inventurus Knowledge Solutions, a Navi Mumbai-based healthcare support services provider.

The company, which is backed by late ace investor Rakesh Jhunjhunwala's wife Rekha Jhunjhunwala, filed the draft red herring prospectus with the Securities and Exchange Board of India (SEBI) on Monday.

According to Inventurus Knowledge, the objective of the initial share sale is to gain the advantages of listing the equity shares on the stock exchanges.

Additionally, the company anticipates that listing the equity shares will boost its visibility and brand image, provide liquidity to its shareholders, and establish a public market for the equity shares.

Entirely an OFS issue

The company's IPO is entirely an offer-for-sale (OFS) of up to 2.82 crore equity shares by promoters and individual shareholders, with no fresh issue component, according to the DRHP.

Since the issue is completely an OFS, the company will not receive any proceeds from the IPO and the entire fund will go to shareholders.

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.

About Inventurus Knowledge Solutions

Inventurus Knowledge Solutions is a technology-enabled healthcare solutions provider and a care enablement platform assisting physician enterprises 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 and has over 800 healthcare organisations as clients, including health systems, academic medical centres, multi-specialty medical groups, single-specialty medical groups and ancillary healthcare organisations as of March this year.

In 2023, Inventurus Knowledge Solutions acquired Aquity Holdings, a company engaged in technology-enabled clinical documentation, medical coding and revenue integrity solutions for healthcare.