NEW DELHI, Dec 19: Shares of Inventurus Knowledge Solutions Ltd, a provider of healthcare support services, debuted on Thursday at a premium of nearly 43% to the issue price of Rs 1,329.
The stock opened at Rs 1,856, representing a 39.65% increase from the issue price on the BSE, and later climbed 46.13% to reach Rs 1,942.10.
At the NSE, shares were listed at Rs 1,900, marking a 42.96% rise.
The company’s market capitalization was valued at Rs 32,282.35 crore.
Inventurus Knowledge Solutions Ltd’s initial public offering (IPO) saw a remarkable subscription rate of 52.68 times on the final day of bidding this past Monday.
The IPO, valued at Rs 2,498 crore, had a price range set between Rs 1,265 and Rs 1,329 per share.
This offering was entirely an Offer For Sale (OFS), comprising 1.88 crore equity shares from promoters and individual shareholders, without a fresh issuance of shares.
Given that the IPO was strictly an OFS, the company will not receive any proceeds; instead, all funds will be directed to the selling shareholders.
Backed by Rekha Jhunjhunwala and RARE Enterprises, the company stated in its IPO documents that its primary goal is to leverage the benefits of being listed on the stock exchanges.
Furthermore, the company aims to use its listing to enhance visibility and brand image, provide liquidity to its shareholders, and create a public market for its equity shares.
Inventurus Knowledge Solutions Ltd operates as a technology-enabled healthcare solutions provider and care enablement platform, assisting physician practices primarily in the US, Canada, and Australia, with a major focus on the US market.
As of March this year, the company serves as a key partner for over 800 healthcare organizations, including health systems, academic medical centers, multi-specialty and single-specialty medical groups, as well as ancillary healthcare entities. (PTI)
