Rekha Jhunjhunwala-backed Inventurus Knowledge Solutions raises Rs 1,120 crore via anchor book, Rs 2,498-crore IPO opens on December 12

Inventurus Knowledge Solutions IPO

Ace investor Rekha Jhunjhunwala-backed Inventurus Knowledge Solutions has raised Rs 1,120.2 crore from several institutional investors via anchor book on December 11, a day before the issue opening.

The Rs 2,498-crore initial share sale is set to open for public subscription on December 12, with price band of Rs 1,265-1,329 per share. The issue, consisting of only an offer-for-sale of 1.87 crore equity shares by existing shareholders, will close on December 16.

The healthcare solutions provider said it has finalised allocation of 84,28,730 equity shares to anchor investors at a price of Rs 1,329 per share.

Fidelity Funds, Government Pension Fund Global, Abu Dhabi Investment Authority, Prudential Hong Kong, WF Asian Reconnaissance Fund, Destinations International Equity Fund, TIMF Holdings, HSBC Global, Pictet, Pinebridge Global Funds, Societe Generale, Integrated Core Strategies, and Makrana Dunmore Singapore Fund are among global marquee institutional investors participated in the anchor book.

Domestic institutional investors including HDFC Mutual Fund, Aditya Birla Sun Life AMC, Tata Mutual Fund, Axis Mutual Fund, Mirae Asset, Whiteoak Capital, Baroda PNB Paribas MF, Max Life Insurance, Nuvama, Edelweiss, Motilal Oswal MF, 360 ONE, Bajaj Allianz Life Insurance, Union MF, Aditya Birla Sun Life Insurance, SBI General Insurance, Trust MF, and Bajaj Holdings also made investment in the company.

"Out of the total allocation of 84.28 lakh equity shares to the anchor investors, 28.09 lakh shares were allocated to 12 domestic mutual funds, which have applied through a total of 23 schemes," the company said.

All the IPO funds (excluding offer expenses) will go to selling shareholders - Ashra Family Trust, Aryaman Jhunjhunwala Discretionary Trust, Joseph Benardello, Aryavir Jhunjhunwala Discretionary Trust, Gautam Char, Nishtha Jhunjhunwala Discretionary Trust, Parminder Bolina, Shane Hsuing Peng, Jeffrey Philip Freimark, and Berjis Minoo Desai. Thus, the company will not receive any money from the public issue.

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Inventurus Knowledge Solutions, being a partner for outpatient and inpatient care organisations, offers care enablement platform assisting physician enterprises in the US, Canada, and Australia, with a focus on the US markets.

As of September 2024, it had 778 healthcare organizations as clients, including health systems, academic medical centres, multi-specialty medical groups, single-specialty medical groups, ancillary healthcare organizations and other outpatient and inpatient healthcare delivery organizations. Some of its key clients include Mass General Brigham Inc, Texas Health Care PLLC, and The GI Alliance Management.

ICICI Securities, Jefferies India, JM Financial, JP Morgan India, and Nomura Financial Advisory and Securities (India) are acting as the book running lead managers to the issue.