Final Hours! IKS IPO closes today: Subscription zooms 4x, GMP up 30%

Unlisted shares of Inventurus Knowledge Solutions were commanding a strong grey market premium (GMP) of Rs 405, or 30.47 per cent, over the upper price band of Rs 1,329 apiece

Inventurus Knowledge Solutions (IKS) IPO closes today: Rekha Jhunjhunwala-backed initial public offering (IPO) of Inventurus Knowledge Solutions (IKS) which opened for public subscription on Thursday, December 12, 2024, is set to conclude today, Monday, December 16, 2024. The public offering has so far received a decent response from investors, with the issue getting oversubscribed by 4.40 times, riding on the back of Non-Institutional Investors and Retail Individual Investors (RIIs) who oversubscribed their respective categories by 7.25 times and 6.49 times, respectively.  Meanwhile, the quota reserved for Qualified Institutional Buyers (QIBs) has been oversubscribed by 2.30 times, as of 11:27 on Monday, December 16, 2024, according to NSE data.

 

The IKS IPO is a book-built issue of Rs 2,497.92 crore, which comprises an entire offer for sale (OFS) of 1,87,95,510 shares. Among the promoter group, Ashra Family Trust, Aryaman Jhunjhunwala Discretionary Trust, Aryavir Jhunjhunwala Discretionary Trust, and Nishtha Jhunjhunwala Discretionary Trust are participating in the OFS. Besides them, individual shareholders are also taking part in the OFS.  

 

IKS IPO is available at a price band of Rs 1,265 and Rs 1,329 per share, and a lot size of 11 shares. Accordingly, investors can bid for a minimum of 11 shares and in multiples thereof. A retail investor would require a minimum of Rs 14,619 to bid for one lot or 11 shares and Rs 1,90,047 to bid for the maximum 13 lots or 143 shares of the public issue.

 

That said, the unlisted shares of Inventurus Knowledge Solutions continue to command a strong premium in the grey market on Monday, December 16, 2024. Sources tracking grey market activity revealed that IKS shares were quoted at Rs 1,734 apiece, reflecting a grey market premium (GMP) of Rs 405 or 30.47 per cent over the upper price band of Rs 1,329.

 

Inventurus Knowledge Solutions has also succeeded in garnering reviews from several brokerages, including Swastika Investmart, Mehta Equities, and Deven Choksey Research, for its IPO. READ MORE

 

As the IKS IPO closes for subscription today, the basis of allotment of the company’s shares is expected to be finalised tentatively tomorrow, December 17, 2024, with shares credited to investors' demat accounts by Wednesday, December 18, 2024.

 

Shares of Inventurus Knowledge Solutions are scheduled to list on the BSE and NSE tentatively on Thursday, December 19, 2024.

 

Since the IPO comprises an entire offer for sale of equity shares, Inventurus Knowledge Solutions will not receive any proceeds from the public offering.

 

Link Intime India serves as the registrar for the IKS IPO, while ICICI Securities, Jefferies India, JM Financial, JP Morgan India, and Nomura Financial Advisory and Securities (India) are the book-running lead managers.

 

Inventurus Knowledge Solutions specialises in healthcare operations and analytics, providing solutions that optimise revenue cycle management (RCM) and improve operational efficiency for clients in the US healthcare sector. The company's promoters include Sachin Gupta, Rekha Jhunjhunwala, and the Jhunjhunwala family trusts, as disclosed in the Red Herring Prospectus (RHP).