Rekha Jhunjhunwala-Backed Inventurus Knowledge Files For IPO
Selling promoters of the Rekha Jhunjhunwala-backed company will put total 2.82 crore shares in the offer for sale portion.
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Inventurus Knowledge Solutions Ltd., where Rekha Jhunjhunwala is a promoter, filed draft red herring prospectus with market regulator SEBI to float initial public offering in India. The public issue is a pure offer-for-sale play, shows the draft document, which means the proceeds will go to the selling shareholders.
Aryaman Jhunjhunwala Discretionary Trust and Aryavir Jhunjhunwala Discretionary Trust and Nishtha Jhunjhunwala Discretionary Trust are the promoter selling shareholders in the offer for sale. Ashra Family Trust and Rajeshkumar Radheshyam Jhunjhunwala are promoter groups looking to offload stake via this listing.
The 36 individual selling shareholders include Chairman Berjis Minoo Desai and non-executive director Joseph Benardello among them.
The selling shareholders will put out a total of 2.82 crore shares with face value of Re 1 each on sale.
ICICI Securities Ltd., Jefferies India Pvt., JM Financial Ltd., JPMorgan, and Nomura Financial Advisory and Securities Ltd. are the lead managers in the public offering, as per the DRHP.
Inventurus Knowledge Solutions provides technology-enabled platforms to physician enterprises in US, Canada, and Australia. The comprehensive platforms helps healthcare institutions to provide inpatient, and outpatient care, the company said.
Inventurus Knowledge Solutions recorded a net profit Rs 370.4 crore as of March 31. It has reported a revenue of Rs 1,817 crore from its operation as of March 31, the company said.
Foreign Exchange Management Act related deficiencies by existing and erstwhile shareholders is a risk the company could face. The company has filed a compounding application with the Reserve Bank of India in this regard, consequently resulting penalty, compounding fees, or regulatory actions, Inventurus Knowledge Solutions said.
Other risks include, maintaining contracts with existing client, any challenges in healthcare industries, any alteration to tax benefit its offices in Hyderabad and Mumbai's special economic zones it enjoys.
