In a fresh development in the primary market, Interarch Building Products Ltd, which is going to launch its initial public offering (IPO) on August 19, has set a price band at ₹850-900 per share for its upcoming public issue. Besides, Rekha Jhunjhunwala-backed Inventurus Knowledge Solutions (IKS) has filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to raise capital via IPO route. So far this year, 44 main board IPOs garnered ₹48,211 crore by public listing of their shares on the domestic bourses. Earlier today, two new-age companies FirstCry parent Brainbees Solutions and Unicommerce eSolutions made their debut on stock market, after successfully raising ₹4,193.73 crore and ₹276.57 crore, respectively, via their IPOs.
Interarch Building Products to raise ₹600 cr via IPO
The Noida-based turnkey pre-engineered steel construction solutions provider has fixed the price band of ₹850 to ₹900 per equity share of face value ₹10 each for its public issue. The IPO will begin for subscription between August 19-21, while the anchor book will open for a day on August 16. The tentative listing date of shares of Interarch Building Products on the BSE and NSE on August 26.
The IPO consists of a fresh issue of up to ₹200 crore and an offer for sale (OFS) of up to 44,47,630 equity shares by promoter and existing shareholders. At the upper end of the price band, the company looks to raise ₹600.29 crore. The lot size of the IPO is 16 shares and in multiple thereafter.
Out of the fresh proceeds of ₹200 crore, the company intends to use ₹58.53 crore for financing the capital expenditure towards setting up the project; ₹19.25 crore for financing the capital expenditure towards upgradation of the Kichha manufacturing facility, Tamil Nadu, Manufacturing Facility I, Tamil Nadu Manufacturing Facility II and Pantnagar Manufacturing Facility. Besides, ₹11.39 crore will be used to meet investment in information technology assets for upgradation of existing information technology infrastructure of the company, and ₹55 crore for funding incremental working capital requirements and general corporate purposes.
Incorporated in 1983, Interarch Building Products has more than three decades of experience in the pre-engineered steel buildings (PEB) industry, under the brands, TRAC and TRACDEK. As of March 31, 2024, Interarch Building Products' order book stood at ₹1,153.29 crore. The company’s revenue from operations stood at ₹1,293.30 crore and ₹1,123.93 crore in FY24 and FY23. Profit after tax rose from ₹81.46 crore in FY23 to ₹86.26 crore for the financial year 2024.
Inventurus Knowledge Solutions files for IPO
The Mumbai-based technology-enabled healthcare solutions provider, having a focus on the U.S. markets, has filed its IPO document with capital market regulator SEBI to raise capital via IPO. The company's IPO is entirely an OFS of up to 2.82 crore equity shares of face value of ₹1 each by promoters and individual shareholders, with no fresh issue component.
Since the issue is completely an OFS, Rekha Jhunjhunwala and RARE Enterprises-backed company will not receive any proceeds from the IPO and the entire fund will go to shareholders.
Inventurus Knowledge Solutions offers a comprehensive platform assisting physician enterprises in the U.S., Canada and Australia to deliver clinical care, improve population health outcomes, and transition to the fee for value model while optimising their revenue and reducing operating costs. It helps healthcare enterprises to offer outpatient service facilities, also known as ambulatory care, providing medical care without requiring admission to a hospital or other facility. This also includes observation, consultation, diagnosis, rehabilitation, intervention, and treatment services. It also enable 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 of March 31, 2024, Inventurus Knowledge Solutions has over 800 healthcare organizations, including some key clients such as Mass General Brigham Inc., Texas Health Care PLLC, and The GI Alliance Management. The company serves clients through their consolidated globalised workforce of over 13,241 employees, including 3,111 clinically-trained employees and a consultative sales force with presence in key geographies in the U.S., Canada and Australia.
The key focus market for the company is the United States, where the total addressable market for provider enablement technology solutions is expected to reach $323 billion by 2028. The current market penetration remains limited compared to the projected total addressable market in 2027, indicating a significant untapped market opportunity for providers of healthcare provider enablement solutions like Inventurus Knowledge Solutions Limited to ride this wave of growth, as per the DRHP.
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