Influx Healthtech IPO: Influx Healthtech launched its initial public offering (IPO) for public subscription on June 18, with the issue scheduled to remain open until June 20. The health and wellness-focused company is looking to raise ₹55.63 crore through this SME IPO. The price band for the offer has been fixed between ₹91 and ₹96 per equity share.
The issue was subscribed 25.41 times at the end of the second day. The public issue subscribed 36.02 times in the retail category, 1.69 times in QIB, and 32.28 times in the NII category as of 6 pm on Saturday.
The company's shares in the grey market traded at ₹38. This indicates an estimated listing price of ₹134, a premium of 39 percent from IPO price of ₹96.
It is important to understand that the grey market premium (GMP) merely reflects investor sentiment in the unofficial market and may fluctuate significantly. It should not be viewed as a guaranteed indicator of the stock’s future performance post listing.
Influx Healthtech IPO is a combination of fresh issue of 46.94 lakh shares aggregating to ₹45.07 crores and offer for sale of 11.00 lakh shares aggregating to ₹10.56 crores. Retail investors were required to apply for a minimum of 1,200 shares, translating to a base investment of approximately ₹1.15 lakh.
The funds raised through the IPO will mainly be utilised to establish two new manufacturing facilities focused on the nutraceutical and veterinary segments, with an allocation of ₹34.19 crore. A portion of the proceeds will also go towards acquiring machinery and meeting general corporate expenses.
The allotment status for the Influx Healthtech IPO is likely to be finalised on June 23. Equity shares are expected to be credited to the Demat accounts of successful applicants by June 24, while refunds for unsuccessful bidders will also be initiated on the same day.
Shares of Influx Healthtech are set to debut on NSE SME on June 25.
According to IPO analyst Dilip Davda of Chittorgarh.com, Influx Healthtech Ltd (IHL), which functions as a contract development and manufacturing organisation (CDMO) in the healthcare sector with three operational units, has shown consistent growth in revenue over the reporting periods. However, he flagged concerns over the sharp rise in profits in FY24 and FY25, calling it potentially unsustainable given the intense competition and fragmentation in the industry. He noted that the IPO appears fairly valued based on recent financials and suggested that only well-informed or cash-rich investors consider a moderate investment with a medium-term horizon. Davda assigned the issue a 'may apply' rating.
Influx Healthtech's IPO is being managed by Rarever Financial Advisors Pvt. Ltd., which is leading the issue as the book-running manager. Maashitla Securities Pvt. Ltd. has been designated as the registrar for the offering, while R.K. Stock Holding Pvt. Ltd. will serve as the market maker.
Influx Healthtech Ltd operates within the health and wellness sector, offering an extensive suite of services that include product development and third-party manufacturing. The company’s offerings span across nutraceuticals, cosmetics, ayurvedic formulations, and veterinary feed supplements.
The company runs its manufacturing operations from facilities located in Thane, which produce a wide variety of products such as tablets, gummies, jellies, skincare items, and ayurvedic solutions.
In terms of financial performance, Influx Healthtech reported a revenue of ₹104.99 crore for FY25, with a net profit of ₹13.37 crore.
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