Rekha Jhunjhunwala-backed Inventurus Knowledge Solutions, a technology-enabled healthcare solutions provider, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
The company's initial public offer (IPO) includes an offer for sale of up to 28,184,060 equity shares, each with a face value of Rs 1.
The offer for sale comprises up to 5,347,924 equity shares by Ashra Family Trust, up to 1,708,846 equity shares each by Aryaman Jhunjhunwala Discretionary Trust, Aryavir Jhunjhunwala Discretionary Trust, and Nishtha Jhunjhunwala Discretionary Trust (all part of the Promoter Group Selling Shareholders), up to 4,375,387 equity shares by Joseph Benardello, up to 1,800,000 equity shares each by Gautam Char and Parminder Bolina, up to 1,641,232 equity shares by Jeffrey Philip Freimark, up to 1,032,894 equity shares by Berjis Minoo Desai, and up to 937,858 equity shares by Scott D. Hayworth (Individual Selling Shareholders).
According to the DRHP, the company posted a profit after tax of Rs 370 crore for FY24, marking a 21% increase from Rs 305 crore in FY23. The company's revenue from operations grew to Rs 1,817.9 crore in FY24, compared to Rs 1,031 crore in FY23.
As of March 31, 2024, Inventurus Knowledge Solutions Limited had over 800 healthcare organizations as clients, including health systems, academic medical centers, multi-specialty and single-specialty medical groups, ancillary healthcare organizations, and other outpatient and inpatient healthcare delivery organizations.
Notable clients include Mass General Brigham Inc., Texas Health Care PLLC, and The GI Alliance Management. The company serves its clients through a consolidated global workforce of over 13,241 employees, including 3,111 clinically trained staff and a consultative sales force with a presence in key geographies such as the US, Canada, and Australia.
In 2023, the company acquired Aquity Holdings, a provider of technology-enabled clinical documentation, medical coding, and revenue integrity solutions for healthcare. This acquisition allowed the company to cross-sell to Aquity's existing base of over 804 customers as of March 31, 2024, offering its existing solutions and thereby expanding its market opportunity.
ICICI Securities, Jefferies India, JM Financial, J.P. Morgan India, and Nomura Financial Advisory and Securities (India) are the Book Running Lead Managers for the issue.
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