Inventurus Knowledge Solutions (IKS) Listing: Shares make a stellar market debut

Shares of Inventurus Knowledge Solutions (IKS) made a stellar debut in Thursday's trade (December 19) in an otherwise weak market. On the NSE, the shares listed at a premium of 42.96 per cent at Rs 1,900 in comparison to the issue price of Rs 1,329. while on the BSE it debuted at a price of Rs 1,856- a premium of 39.65 per cent.

The blockbuster IPO  which saw stellar demand was booked 52.68 times during the three-day subscription period which ran between December 12 and closed on December 16.

Institutional investors emerged as the biggest bidders in the offer and booked 80.64 times the shares on offer. The other investor categories- NIIs or Non-Institutional Investors saw oversubscription of 23.25 times the shares on offer, while that for retail investors stood at 14.55 times.

The issue was a complete offer for sale or OFS of Rs 2,498 crore that post the issue will dilute the promoter holding from the erstwhile 69.7 per cent to 65.8 per cent. Also, as the issue is an OFS, the proceeds of the offer will not be received by the company.

In its IPO papers, the company mentioned that the objective of the initial share sale is to gain benefits associated with listing of the equity shares on the stock exchanges.

Rakesh Jhunjhunwala family-promoted Inventurus Knowledge Solutions (IKS Health) is a tech-enabled healthcare provider enablement platform that serves the United States healthcare market.