Influx Healthtech IPO subscribed over 41 times on Day 3; GMP signals strong listing
Influx Healthtech's IPO witnessed an overwhelming response, being oversubscribed 41.07 times, driven by strong retail and NII participation. The IPO, priced at Rs 91-96, saw grey market premiums suggesting a 39% listing gain. The company plans to use the raised funds to establish new manufacturing facilities for nutraceutical and veterinary products.
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Business Overview and Fund Utilisation
The Rs 55.63 crore initial public offering (IPO) of Influx Healthtech was subscribed 41.07 times by 11:26 a.m. on the final day of bidding, Friday, driven by strong interest from retail and non-institutional investors.The retail investor portion was subscribed 53.88 times, while the non-institutional investor (NII) segment saw 63.64 times subscription. The qualified institutional buyer (QIB) portion was subscribed 1.71 times.In the grey market, Influx Healthtech shares were commanding a premium of Rs 37–38, indicating an estimated listing price of around Rs 134. This reflects a 39% gain over the issue's upper price band of Rs 96 per share.The IPO opened on June 17 and closes today. It is priced in the range of Rs 91–96 per share, with a minimum lot size of 1,200 shares.Mumbai-based Influx Healthtech is a contract development and manufacturing organisation (CDMO) that offers third-party manufacturing and product development services across nutraceuticals, cosmetics, ayurvedic products, and veterinary feed supplements.Its manufacturing operations are based in Thane, where it produces a wide range of products including tablets, gummies, jellies, skincare solutions, and ayurvedic formulations.Of the Rs 55.63 crore raised, Rs 45.07 crore is through a fresh issue and Rs 10.56 crore via offer-for-sale. The company plans to utilise Rs 34.19 crore for establishing two new manufacturing facilities focused on nutraceutical and veterinary products, along with investments in machinery and general corporate purposes.For FY25, Influx Healthtech reported revenue of Rs 104.99 crore and a net profit of Rs 13.37 crore.The shares are proposed to be listed on the NSE SME platform, with a tentative listing date of June 25.: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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