Rakesh Jhunjhunwala Backed Inventurus Knowledge Solutions Get Listed on Stock Exchanges

Inventurus Knowledge Solutions (IKS) made a strong debut on the bourses in today’s trading session. While shares of the company got listed at a premium of 42.96% at ₹1,900 on NSE as compared to the issue price of ₹1,329, it opened at ₹1,856 on BSE, a premium of 39.65%.

During the subscription window lasting between December 12 to December 16, the shares were oversubscribed by 52.68 times. Institutional investors turned out to be the biggest bidders as they booked the shares by 80.64 times, while Non-Institutional Investors (NIIs) and retail investors oversubscribed by 23.25 times and 14.55 times respectively.

The issue was completely an offer for sale (OFS) valued at ₹2,498 crore. In an OFS, promoters of the company offload their stake and sell their shares to the public. Moreover, the proceeds of the offer will not be going to the company. In this case, promoter stakeholding is getting diluted from 69.7% to 65.8%.

Backed by Rakesh Jhunjhunwala, Inventurus Knowledge Solutions (IKS) is healthcare solutions provider that focusses on the United States’ healthcare market.