NEW DELHI, Dec 19: Shares of Inventurus Knowledge Solutions Ltd, which provides healthcare support services, listed with a premium of nearly 43 per cent against the issue price of Rs 1,329 on Thursday.
The stock made its debut at Rs 1,856, rallying 39.65 per cent from the issue price on the BSE. Later, it surged 46.13 per cent to Rs 1,942.10.
At the NSE, it listed at Rs 1,900, a jump of 42.96 per cent.
The company’s market valuation stood at Rs 32,282.35 crore.
The initial public offer of Inventurus Knowledge Solutions Ltd received 52.68 times subscription on the closing day of bidding on Monday.
The Rs 2,498-crore initial share sale had a price band of Rs 1,265-1,329 per share.
The company’s IPO was entirely an Offer For Sale (OFS) of 1.88 crore equity shares by promoters and individual shareholders, with no fresh issue component.
Since the issue was completely an OFS, the company will not receive any proceeds from the IPO and the entire fund will go to shareholders.
The company, which is backed by Rekha Jhunjhunwala and RARE Enterprises, in its IPO papers stated that the objective of the initial share sale is to gain the advantages of listing the equity shares on the stock exchanges.
Additionally, the company anticipates that listing the equity shares will boost its visibility and brand image, provide liquidity to its shareholders, and establish a public market for the equity shares.
Inventurus Knowledge Solutions Ltd is a technology-enabled healthcare solutions provider and a care enablement platform, assisting physician enterprises in the US, Canada and Australia, with a focus on the US markets.
The company is a leading partner for outpatient and inpatient care organisations and has over 800 healthcare organisations as clients, including health systems, academic medical centres, multi-specialty medical groups, single-specialty medical groups and ancillary healthcare organisations as of March this year. (PTI)
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