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IKS Health IPO: Rare Enterprises-backed firm to file DRHP with Sebi in September

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IKS Health IPO: Rare Enterprises-backed firm to file DRHP with Sebi in September

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Rare Enterprises-backed company healthcare IKS Health is likely to file a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in September. The initial public offering (IPO) launch is expected in January or February next year.

Rare Enterprises-backed healthcare company IKS Health is likely to file a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in September. The initial public offering (IPO) launch is expected in January or February next year.

The development follows another Rare Enterprises-backed firm Concord Biotech last week filing preliminary papers for an initial public offering (IPO).  
IKS Health IPO is expected to be an offer-for-sale (OFS) while there will be no fresh issue of shares. It means the funds the company raises would be taken by the shareholders and no funds are expected to come into the company.
The IPO size is expected to be around Rs 2,500 crore. The equity issuance for Rs 2,500 crore would be about 15 percent and the valuation post-IPO could be around Rs 16,000-18,000 crore.
The is a lot of synergy between Rare Enterprises and IKS Health’s board. Utpal Sheth, MD and CEO of Rare Enterprises, is a director on the board of IKS Health while Amit Goela, head of Research and Investment at Rare Enterprises is also on the latter’s board.
IKS Health is an operator of healthcare solutions and primarily helps hospitals in managing their resources.
For more, watch the accompanying video
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