New IPO Listing Coming Soon On BSE And NSE; Who Is It? A Hint! It Belongs To Ace Investor Rekha Jhunjhunwala

Rekha Jhunjhunwala has learned from the best, her late-husband Rakesh Jhunjhunwala who was once upon a time called 'The Warren Buffett of India' when it came to grabbing opportunities in the stock market. Rekha has taken her husband's legacy only to greater heights with their portfolio gains at over Rs 41,765.61 crore as of August 16, 2024. And she is now planning to tap the primary market with her upcoming initial public offering (IPO).

2024 has been flooded with back-to-back IPOs, and the trend is liking to continue in the remaining months of the year. With India's IPO market at the booming stage, Rekha-backed Investurus Knowledge Solutions has filed a draft prospectus with Sebi for launching its IPO.

Inventurus IPO will be purely an offer for sale (OFS) of up to 28,184,060 equity shares having a face value of Re 1 each. The company's largest promoters are Sachin Gupta, Rekha Jhunkhunwala, Aryaman Jhunjhunwala Discretionary Trust, Aryavir Jhunjhunwala Discretionary Trust, and Nishtha Jhunjhunwala Discretionary Trust.

Nishtha, Aryaman, and Aryavir are children of Rekha and Rakesh.

However, except for Aryaman Jhunjhunwala Discretionary Trust, other Jhunjhunwalas are not selling their shareholding in Inventurus via the IPO route.

Selling shareholders in the promoter group are -- Ashra Family Trust who will sell 5,347,924 equity shares, Joseph Benardello who will sell 4,375,387 equity shares, Gautam Char who is going to sell 1,800,000 equity shares, Parminder Bolina who will sell 1,800,000 equity shares, and Aryaman Jhunjhunwala Discretionary Trust who is going to sell up to 1,708,846 equity shares in the IPO, as per the draft filing.

Accordingly, Inventurus will not be able to utilise the proceeds post-IPO, as it will be transferred to selling shareholders.

Of the total offer for sale, 75% of the size will be allotted to Qualified Institutional Buyers (QIB), while 15% of the size is set to be reserved for non-institutional investors, and the rest of 10% will be allocated to retail individual investors (RIIs).

Inventurus is a technology-enabled healthcare solutions provider and offers 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 organizations, enabling healthcare organizations to deliver superior clinical care, improve population health outcomes, and transition to the "fee for value" model while optimizing their revenue and reducing operating costs.

As of March 31, 2024, the company has over 800 healthcare organizations 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.

The company serves its clients through a consolidated globalized workforce of over 13,241 employees, including 3,111 clinically-trained employees and a consultative sales force with a presence in key geographies in the US, Canada and Australia, as of March 31, 2024.

The details of the price band, timeframe, and issue size will be announced in the due course.

Inventurus is planning to list its shares of BSE and NSE.

Book-running lead managers for the IPO are ICICI Securities, Jefferies, JM Financial, JP Morgan and Nomura. The registrar of the offer is Link Intime India.