According to the latest reports coming from the IPO market in India, IKS Health, a healthcare company based in Mumbai, will reportedly file necessary draft papers with the Securities and Exchange Board of India, for floating an initial public offering in the month of January next year.
Reports suggest that the draft red herring prospectus of IKS Hearth would be submitted in front of SEBI in the month of September. SEBI is the regulator of securities and capital markets in India.
Rare Enterprises, owned by the late stock trader and investor Rakesh Jhunjhunwala, has a stake of nearly 54% in the Health care company founded by SACHIN K. GUPTA and JOE BENARDELLO in 2007.
About IKS Health
With a workforce of more than 6000 employees IKS Health provides Healthcare and administrative solutions to various organisations and Healthcare facilities all around the world. The solutions and services provided by IKS Health assist these ambulatory care organisations to perform their duties properly by allocating resources efficiently and effectively.
IPO Plans of IKS Health
Various media reports suggest that in the initial public offering of IKS Health, there would not be any fresh issue of shares. The entire initial public offering will be based on an offer for sale in which all the funds raised by the company will directly go to shareholders.
Through the initial public offering, which is expected to happen in January 2023, the company is planning to raise nearly 2500 crore rupees by issuing 15% of equity shares in the healthcare Company.
The market analyst also expects that after the initial public offering, the total valuation of the Healthcare Company will go up to around 16000 to 18000 crore rupees.
Along with BERJIS DESAI who is acting as non-executive chairman of the director board, Jeffrey Freimark, Carl King, Dr. Vikram Chhatwal, Dr Aniruddha Malpani and Utpal Sheth are few members who are part of the board of directors of IKS health. Utpal Sheth is also managing director and chief executive officer of Rare Enterprises who has got a majority stake in the company.
Amit Goela who is head of research and investment at Rare Enterprises is also part of the board of directors of IKS Health.