Inventurus Knowledge Solutions' Rs 2,498-cr IPO to open on Dec 12

PTI New Delhi: Inventurus Knowledge Solutions Ltd, which provides healthcare support services, on Monday set a price band of Rs 1,265-1,329 per share for its Rs 2,498-crore initial public offering (IPO). The initial share sale will be open for public subscription from December 12 to December 16, with bidding for anchor investors scheduled for December 11, the company announced. The company has reduced its issue size, which now comprises an Offer For Sale (OFS) of 1.88 crore equity shares by promoters and individual shareholders, with no fresh issue component.

Earlier, the OFS size was 2.82 crore, as per the draft papers. The company has reserved 65,000 shares worth Rs 8.64 crore for its employees. Since the issue is completely an OFS, the company will not receive any proceeds from the IPO and the entire fund will go to shareholders. At present, promoters and promoter group entities hold close to 70 per cent stake in the company, which is backed by Rekha Jhunjhunwala and RARE Enterprises. At the upper price band, the company's IPO is estimated at Rs 2,498 crore, placing its market capitalisation at over Rs 22,800 crore.