Jhunjhunwala-backed IKS Health IPO Opens Today

Specializing in revenue cycle management (RCM), telehealth, and clinical data optimization for US healthcare providers, the company uses proprietary technology to offer cost-efficient, scalable solutions.

The IPO of Inventurus Knowledge Solutions (IKS Health), a prominent player in healthcare operations and analytics, opened for public subscription on December 12, 2024.

Specializing in revenue cycle management (RCM), telehealth, and clinical data optimization for US healthcare providers, the company uses proprietary technology to offer cost-efficient, scalable solutions.

Rekha Jhunjhunwala-backed IKS Health aims to raise INR 2,497.92 Cr through a 100% Offer for Sale (OFS) of 18,795,510 equity shares.

The IPO is priced in the range of INR 1,265 to INR 1,329 per share. Retail investors can bid for a minimum of 11 shares, requiring INR 14,619, with a maximum bid of 13 lots (143 shares) amounting to INR 1,90,047.

The company has already raised INR 1,120.18 Cr from anchor investors on December 11, 2024. The IPO window will remain open until December 16, 2024, with shares slated for listing on the NSE and BSE on December 19, 2024.

IKS Health operates in the U.S. healthcare sector, delivering solutions that enhance operational efficiency while reducing costs for providers. The company leverages its offshore delivery centers and proprietary tools to achieve measurable outcomes for its clients.

As per the Red Herring Prospectus (RHP), the proceeds from the IPO will go to the selling shareholders, with no direct infusion into the company's operations.

Inventurus Knowledge Solutions commands a strong premium in the grey market, with shares quoted at INR 1,751, reflecting a 31.75% premium over the upper IPO price band of INR 1,329.

The promoters participating in the OFS include Ashra Family Trust, Aryaman Jhunjhunwala Discretionary Trust, Aryavir Jhunjhunwala Discretionary Trust, and Nishtha Jhunjhunwala Discretionary Trust. Individual shareholders include Joseph Benardello, Gautam Char, Parminder Bolina, Jeffrey Philip Freimark, Shane Hsuing Peng, and Berjis Minoo Desai.

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

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