Inventurus Knowledge Solutions Limited

Inventurus Knowledge Solutions Limited is a technology-enabled healthcare solutions provider and offer a care enablement platform assisting physician enterprises in the US, Canada and Australia, with a focus on the US markets. They are a partner for outpatient and inpatient care organizations, enabling healthcare organizations deliver superior clinical care, improve population health outcomes, and transition to the 'fee for value' model while optimizing their revenue and reducing operating costs. Outpatient service facilities, also known as ambulatory care, provide medical care without requiring admission to a hospital or other facility, and include observation, consultation, diagnosis, rehabilitation, intervention, and treatment services. Inpatient care, refers to the provision of medical treatment for patients who have been admitted to a hospital or medical facility, requiring an overnight stay or an extended duration.  As per financial performance, Inventurus Knowledge Solutions Limited has posted total income / net profits of Rs 784.47 Cr / Rs 232.97 Cr (FY22), Rs 1060.16 Cr / 305.23 Cr (FY23), Rs 1857.94 Cr / Rs 370.49 Cr (FY24) and Rs 1294.61 Cr / 208.58 Cr (H1 FY25). So as per previous financials data, company has shown very good growth. Company has an average EPS of Rs 19.46 and average RoNW of 34.28% for last three fiscals. Issue is priced at a P/BV of 16.04 as per NAV of Rs 82.83/- as on 30.09.24. If we attribute latest earnings of FY23, FY24, TTM and annualised FY25 on equity post issue, then asking price is at a P/E of around 74.71, 61.55, 61.02 and 54.66 respectively. As per RHP, there is no listed peers, but we may consider Sagility India Limited as nearest peer and as per that company is fully valued. On BRLM's front, five lead managers are associated with this IPO, and have handled around 131 IPOs in last three fiscals. ( As on 09.12.24 ) As per financials, Inventurus Knowledge Solutions Limited has shown good growth, RoNW is 32% and P/E is 74.71, 61.55, 61.02 and 54.66 respectively as per FY23, FY24, TTM and annualised FY25 earnings, so issue looks fully priced. Company is a technology-enabled healthcare solutions provider and offer a care enablement platform assisting physician enterprises in the US, Canada and Australia, with a focus on the US markets. So, we give SUBSCRIBE rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

• 1 Sachin Gupta
• 2 Rekha Jhunjhunwala
• 3 Aryaman Jhunjhunwala Discretionary Trust
• 4 Aryavir Jhunjhunwala Discretionary Trust
• 5 Nishtha Jhunjhunwala Discretionary Trust