IPOs Today, 13th December 2024

Inventurus Knowledge Solutions

Company Overview

Inventurus Knowledge Solutions is a healthcare technology solutions provider offering care enablement platforms for physician enterprises, hospitals, and outpatient care organizations, primarily in the U.S., Canada, and Australia. The company focuses on enhancing clinical outcomes, transitioning providers to value-based care models, and reducing operational costs. It recently acquired Aquity Holdings to strengthen its clinical documentation and revenue integrity services, expanding its client base significantly. As of September 2024, IKS serves over 778 healthcare organizations with a global workforce exceeding 13,500 employees, including more than 2,600 clinically trained professionals.

Inventurus Knowledge Solutions IPO Details

• IPO Date: December 12-16, 2024
• Listing Date: December 19, 2024
• Issue Size: ₹2,497.92 crores (Offer for Sale only, no fresh issue).
• Price Band: ₹1,265 to ₹1,329 per share.
• Lot Size: 11 shares (minimum investment of ₹14,619).
• Listing Platforms: NSE and BSE.
• Promoters: Include Sachin Gupta and the Jhunjhunwala family trusts.

Use of Proceeds

The IPO is an Offer for Sale (OFS), meaning the proceeds will go to the selling shareholders rather than the company. The funds are expected to allow shareholders to monetize their investments while enhancing the company's market visibility.

Strengths

• Comprehensive Solutions: A one-stop platform supporting healthcare operations for inpatient and outpatient care.
• Digital Expertise: Strong capabilities in automation and technology-driven transformations.

Weaknesses

• High Competition: Faces challenges from other global healthcare IT providers, particularly in the U.S.
• Revenue Dependency: A significant portion of its revenue is derived from the U.S., exposing it to risks from healthcare policy changes.

Subscription Status 

Inventurus Knowledge Solutions IPO subscribed 2.16 times. The public issue subscribed 3.27 times in the retail category, 1.83 times in QIB, and 2.10 times in the NII category by December 13, 2024, 1:58:14 PM.

One Mobikwik Systems

Company Overview

One MobiKwik Systems Ltd., founded in 2008 by Bipin Preet Singh and Upasana Taku, is a leading fintech platform in India offering digital wallets, QR-based payments, financial services, and more. The platform has over 161 million registered users and 4.26 million merchants, covering 99% of India's pin codes. Its offerings include digital credit, insurance, and investment products, promoting financial inclusion. As of FY24, MobiKwik achieved profitability with ₹14.08 crore profit and a gross payment value (GMV) growth of 45.88% annually from FY22 to FY24​

One Mobikwik Systems IPO Details

• IPO Size: ₹572 crore (entirely fresh issue, no offer for sale)
• Price Band: ₹265–₹279 per share
• Dates: Opened on Dec 11, 2024, and closed on Dec 13, 2024
• Lot Size: Minimum 53 shares
• Listing: Expected on NSE and BSE​

Use of Proceeds

• ₹150 crore: Funding organic growth in financial services
• ₹135 crore: Payment services expansion
• ₹107 crore: Research and development in data, machine learning, AI, and technology
• ₹70.28 crore: Payment devices business expansion
• ₹109.72 crore: General corporate purposes

Strengths

• Strong User and Merchant Base: Over 161 million users and 4.26 million merchants.
• Diverse Financial Products: Includes digital credit, investments, and insurance.

Weaknesses

• Regulatory Challenges: Dependence on evolving regulatory norms in the fintech sector.
• High Competition: Competing against established payment players like PhonePe and Paytm.

Subscription Status 

Mobikwik IPO subscribed 52.60 times. The public issue subscribed 112.34 times in the retail category, 17.92 times in QIB, and 82.16 times in the NII category by December 13, 2024 1:58:12 PM.

Sai Life Science

Company Overview

Sai Life Sciences Ltd. is a contract development and manufacturing organization (CDMO) focused on providing services across the drug discovery, development, and manufacturing value chain for global pharmaceutical and biotech firms. The company's portfolio includes over 170 products, with 38 supporting the manufacturing of 28 commercial drugs. It primarily caters to innovator pharmaceutical companies, helping them bring new chemical entities (NCEs) to market.

In recent years, the company has demonstrated robust growth. Revenue grew from ₹897.74 crore in FY22 to ₹1,494.27 crore in FY24, a compound annual growth rate (CAGR) of ~30%. Profit after tax increased significantly from ₹6.23 crore in FY22 to ₹82.81 crore in FY24, driven by operational efficiencies and growth in its customer base.

Sai Life Science IPO Details

• IPO Size: ₹3,042.62 crore, comprising a fresh issue of ₹950 crore and an offer for sale of ₹2,092.62 crore.
• Price Band: ₹522-₹549 per share.
• Lot Size: 27 shares.
• IPO Timeline:
• Open: December 11, 2024
• Close: December 13, 2024
• Allocation:
• Qualified Institutional Buyers (QIB): 50%
• Non-Institutional Investors (NII): 15%
• Retail Investors: 35%
• Listing: Shares will be listed on the BSE and NSE.

Use of Proceeds

The funds raised from the fresh issue (₹950 crore) will be allocated for:

• Repayment or prepayment of outstanding borrowings to improve financial leverage.
• General corporate purposes, supporting operational and strategic goals​

Strengths

• Strong Industry Position: Sai Life Sciences is well-positioned in the global CRDMO market, with a diversified portfolio of products and services catering to pharmaceutical innovators.
• Rapid Financial Growth: The company has achieved strong revenue and profitability growth, with EBITDA margins improving significantly.

Weaknesses

• Customer Dependency: Revenue is heavily reliant on pharmaceutical innovators. If customers face delays or fail to commercialize their drugs, Sai Life Sciences' financials could be affected.
• Patent Expiry Risks: Products linked to patented drugs are at risk of declining demand after patent expiry.

Subscription Status 

Sai Life Sciences IPO subscribed 2.87 times. The public issue subscribed 0.69 times in the retail category, 7.15 times in QIB, and 2.28 times in the NII category by December 13, 2024, 1:58:11 PM.

Vishal Mega Mart

Company Overview

Vishal Mega Mart has established itself as a popular value retail chain targeting price-sensitive customers in Tier II and Tier III cities in India. Known for its "everyday low price" model, the company operates numerous stores across the country and caters to middle-class and lower-middle-class households. It has a strong distribution network, an extensive product portfolio, and a focus on affordability and accessibility.

Vishal Mega Mart IPO Details

• IPO Size: ₹8000 crore, entirely offer for sale of 102.56 Cr shares.
• Price Band: ₹74-₹78 per share.
• Lot Size: 190 shares.
• IPO Timeline:
• Open: December 11, 2024
• Close: December 13, 2024
• Allocation:
• Anchor investors: 30%
• Qualified Institutional Buyers (QIB): 20%
• Non-Institutional Investors (NII): 15%
• Retail Investors: 35%
• Listing: Shares will be listed on the BSE and NSE.

Use of Proceeds

As it is a 100% Offer for Sale IPO, there will be no proceeds given to the company for allocation.

Strengths

• Strong Brand Recognition: Well-known brand in the value retail segment, particularly in smaller cities and rural areas.
• Wide Product Range: Diversified offerings catering to varied customer needs under one roof.

Weaknesses

• Low Margins: Operating in a price-sensitive segment where margins are tight due to competitive pricing.
• Intense Competition: Faces competition from other value retailers, e-commerce platforms, and local unorganized players.

Subscription Status 

Vishal Mega Mart IPO subscribed 8.29 times. The public issue subscribed 1.93 times in the retail category, 17.29 times in QIB, and 11.13 times in the NII category by December 13, 2024, 1:57:09 PM.

With the mainboard IPOs covered above, let's move to the SME space now. These are the IPOs in the SME space that are live.

Hamps Bio Ltd

Company Overview

Hamps Bio Ltd. is involved in the marketing and distribution of pharmaceutical products, including tablets, syrups, capsules, injectables, oils, and nutritional supplements. The company operates through a network of over 50 distributors and e-commerce platforms such as Amazon, Flipkart, and Jio Mart. Hamps Bio’s products are distributed across multiple Indian states and Union Territories, as well as international markets, focusing on freeze-dried and frozen pharmaceutical goods.

Hamps Bio IPO Details

• Issue Size: ₹6.22 crore
• Type: Fresh issue of 12.2 lakh shares
• Price Band: ₹51 per share (fixed price)
• Lot Size: 2,000 shares (minimum investment ₹1,02,000)
• Subscription Dates: December 13, 2024 – December 17, 2024
• Listing: Shares are set to debut on the BSE SME platform on December 20, 2024
• Lead Manager: Marwadi Chandarana Intermediaries Brokers Pvt. Ltd.
• Registrar: Bigshare Services Pvt. Ltd.

Subscription Status 

Hamps Bio IPO subscribed 6.12 times. The public issue subscribed 11.14 times in the retail category and 1.11 times in the NII category by December 13, 2024, 2:01:18 PM.

Yash HighVoltage Ltd

Company Overview

Incorporated in June 2002, Yash Highvoltage Limited specializes in manufacturing and distributing a wide range of transformer bushings.

The company's product portfolio includes Oil-Impregnated Paper (OIP) condenser bushings, Resin-Impregnated Paper (RIP) and Resin-Impregnated Synthetic (RIS) condenser bushings, high-voltage and high-current bushings, OIP wall bushings, and oil-to-oil bushings. The company also provides repair, retrofitting, and replacement services for old bushings.

The company's manufacturing unit is situated in Vadodara, Gujarat, and has an annual production capacity of 7,000 bushings. This capacity is divided into 3,700 units of Oil-Immersed Paper (OIP) Bushings, 3,000 units of Resin-Impregnated Paper (RIP) Bushings, and 300 units of High Current Bushings. The factory is fully equipped with in-house quality testing facilities.

Yash HighVoltage IPO Details

• Issue Size: ₹110.01 crores (₹93.51 crores via fresh issue and the rest through an offer for sale).
• Price Band: ₹138-146 per share.
• Face Value: ₹5 per equity share.
• Market Lot: 1,000 shares (minimum investment: ₹146,000 at the upper price band).
• Listing Platform: BSE SME.
• IPO opens today (12th December) and closes on 16th December
• Allotment Date: December 17, 2024.
• Refund Initiation: December 18, 2024.
• Listing Date: December 19, 2024.

Subscription Status 

Yash Highvoltage IPO subscribed 7.99 times. The public issue subscribed 13.21 times in the retail category, 0.20 times in QIB, and 6.18 times in the NII category by December 13, 2024, 2:04:19 PM.

Purple United Sales IPO

Company Overview: 

• Purple United Sales is a fashion brand that started in 2014 and focuses on clothing, shoes, and accessories for kids.  Their main line, "Purple United Kids," caters to children up to 14 years old.  The company offers laboratory-tested products made of high-quality materials in bright colours and designs for every occasion. Their range includes clothes for infants, toddlers, and older kids, along with items like strollers and other accessories.
• The company operates mostly in India, with 17 exclusive stores in 10 cities across 5 states. They also sell through 20 shop-in-shop outlets in big retail chains and online platforms like Myntra, Amazon, Flipkart, and FirstCry. Their products are also available on their own website and app. Additionally, they collaborated with 44 retailers across the country.

Purple United Sales IPO Details:

• Issue Type: Fresh issue of 2,604,000 equity shares worth ₹32.81 crore.
• Price Band: ₹121–₹126 per share.
• Lot Size: 1,000 shares, with a minimum investment of ₹126,000.
• Listing: Scheduled on the NSE SME platform on December 18, 2024.
• Use of Funds:
• Opening new stores.
• Working capital requirements.
• General corporate purposes.

Timeline:

• Bidding Opens: December 11, 2024.
• Bidding Closes: December 13, 2024.
• Allotment Finalization: December 16, 2024.
• Refunds Initiated: December 17, 2024.
• Demat Transfers: December 17, 2024.

IPO Subscription Status: 

Purple United Sales IPO subscribed 73.64 times. The public issue subscribed 84.37 times in the retail category, 44.43 times in QIB, and 87.57 times in the NII category by December 13, 2024 2:06:02 PM.

Supreme Facility Service Management

Company Overview: 

Incorporated in 2005, Supreme Facility Service Management Limited offers integrated facility management services, such as housekeeping and cleaning, disinfecting and sanitizing, staffing, and corporate food solution services to other businesses.

Its business is divided into 2 segments: Integrated Facilities Management and Support Services. Their Portfolio of Integrated Facilities Management services:

• Soft Services: These include housekeeping and cleaning, disinfecting and sanitizing, pest control, gardening, and exterior building cleaning.
• Hard Services: These are services related to electrical, plumbing, and maintenance, as well as managing power equipment like generators and UPS systems.
• Staffing Service: This involves providing manpower or staffing based on the client's needs for various support services.

Supreme Facility Service Management IPO Details:

• Price Band: ₹72 to ₹76 per equity share
• Lot Size: 1600 shares (minimum investment of ₹121,600)
• Total Issue Size: 6,579,200 shares, aggregating up to ₹50 crore
• Listing Platform: NSE SME
• Registrar: KFin Technologies Limited
• Lead Manager: Khandwala Securities Limited
• Key Dates:
• Allotment Date: December 16, 2024
• Listing Date: December 18, 2024

IPO Subscription Status: 

Supreme Facility Management IPO subscribed 13.99 times. The public issue subscribed 23.75 times in the retail category, 4.86 times in QIB, and 6.26 times in the NII category by December 13, 2024, 2:05:10 PM.

Disclaimer: Investing in SME IPOs involves a high degree of risk. Such investments may be suitable only for investors with a high-risk tolerance and the ability to bear potential losses. Perform thorough due diligence and consult a financial advisor before investing. Invest wisely and at your own discretion.