Influx Healthtech Limited, a Mumbai-based contract manufacturing and healthcare services company, launched its Initial Public Offering (IPO) on June 18, 2025. The issue will close on June 20, and the listing is expected to take place on the NSE SME platform by June 25, 2025.

The company is a Contract Development and Manufacturing Organization (CDMO) offering services in the nutraceutical, ayurvedic, homecare, and cosmetics sectors. Founded in 2020, it has quickly built a reputation as a reliable third-party manufacturer for multiple sectors.

IPO Structure and Details

The IPO is a Book Built Issue amounting to ₹58.57 crore, consisting of:

• Fresh Issue: ₹48 crore (50 lakh equity shares)

• Offer for Sale (OFS): ₹10.57 crore (11 lakh equity shares)

The price band has been fixed between ₹91 and ₹96 per share.
The lot size for application is 1,200 shares, requiring a minimum retail investment of ₹1,15,200.
For High-Net-Worth Individuals (HNIs), the minimum application is 2 lots or ₹2,30,400.

IPO Timeline

• IPO Opens: June 18, 2025

• IPO Closes: June 20, 2025

• Basis of Allotment: June 23, 2025 (tentative)

• Listing Date: June 25, 2025 (tentative)

RAREVER Financial Advisors Private Limited is the Book Running Lead Manager, and Maashitla Securities Private Limited is the Registrar. R.K. Stockholding Pvt Ltd is the Market Maker.

GMP and Subscription Status

As of 11:30 AM on June 18, the IPO was subscribed 1.23 times on Day 1, indicating early investor interest.

The Grey Market Premium (GMP) is currently ₹11, reflecting a 10.56% listing gain over the upper price band. Though grey market activity is unregulated and unofficial, it provides a general sense of investor sentiment.

Anchor Investment Update

Influx Healthtech has raised ₹16.66 crore through its anchor book, allocating 17.36 lakh equity shares at ₹96 per share to anchor investors. This pre-IPO placement signals confidence from institutional investors.

Promoter Background

The company is led by:

• Mr. Munir Abdul Ganee Chandniwala – Managing Director with 22 years of experience across nutraceuticals, cosmetics, ayurvedic and homecare products

• Mrs. Shirin Munir Ahmed Chandniwala – 12 years of experience in packaging material trading

• Mr. Abdul Ganee Abdul Rasul Chandniwala – Over 21 years in pharmaceuticals

Their combined leadership contributes to strategic decisions and long-term scalability.

Financial Performance

The financial growth of Influx Healthtech over the past three years has been robust.

Revenue from Operations (₹ in Lakh):

• FY2023: ₹7,605.65

• FY2024: ₹10,001.60

• FY2025: ₹10,498.67

EBITDA (₹ in Lakh):

• FY2023: ₹1,072.34

• FY2024: ₹1,700.65

• FY2025: ₹2,070.45

Profit After Tax (₹ in Lakh):

• FY2023: ₹719.63

• FY2024: ₹1,112.80

• FY2025: ₹1,336.60

This consistent rise in revenue, operating profit, and net income reflects the company’s operational strength and market expansion.

Key Financial Ratios

For FY24 (post-issue metrics):

• Pre-Issue EPS: ₹7.36

• Post-Issue EPS: ₹5.77

• Pre-Issue P/E: 13.04x

• Post-Issue P/E: 16.63x

• Industry P/E Benchmark: 29x

Return Ratios:

• Return on Capital Employed (ROCE): 49.17%

• Return on Equity (ROE): 36.98%

• Return on Net Worth (RoNW): 36.98%

These are strong performance metrics, suggesting that capital is efficiently used to generate returns.

Use of Proceeds

The IPO proceeds from the fresh issue of ₹48 crore will be used for:

• Working capital requirements

• General corporate purposes

• Expansion of contract manufacturing capacity

• Technology upgrade and product innovation

These objectives indicate a growth-oriented strategy with focus on scale, innovation and efficiency.

Strengths

• Strong growth in financials in just five years of incorporation

• Diversified contract manufacturing exposure across pharma, nutraceutical and personal care

• High ROCE and ROE, indicating effective management and capital efficiency

• Anchor investment interest, demonstrating institutional validation

• Reasonable pricing when compared with industry P/E

Risks and Concerns

• High minimum investment for retail investors may limit participation

• Limited operating history (started in 2020), yet to navigate a full economic cycle

• Heavily dependent on contractual clients; delays or cancellations could impact revenue

• Market for NSE SME stocks may face lower liquidity, impacting trading post-listing

• GMP indicates only moderate listing gains, with limited clarity on long-term upside

Recommendation

Based on:

• Strong financial performance

• High return ratios

• Healthy anchor interest

• But modest GMP and SME platform listing,

the IPO appears suitable for risk-taking investors looking to benefit from potential listing gains. However, long-term investors should wait to see how the company performs post-listing and whether order visibility and scalability materialise further.

Conclusion

Influx Healthtech IPO offers an opportunity to invest in a fast-growing contract manufacturing firm with solid fundamentals. However, risks related to scale, liquidity, and segment dependency warrant caution.

Final Verdict: Apply with Caution — only for listing gains or short-term position, if you are a risk-tolerant investor.

The Upcoming IPOs in this week and coming weeks are Suntech Infra Solutions, Shri Hare-Krishna Sponge Iron, Icon Facilitators, Ace Alpha Tech, Aakaar Medical Technologies, Safe Enterprises Retail Fixtures, Globe Civil Projects, Sambhav Steel Tubes, Ellenbarrie Indutrial Gases, Kalpataru, HDB Financials, AJC Jewel, Mayasheel Ventures.

The Current active IPO are  ArisInfra Solutions, Influx Healthtech, Eppeltone Engineers.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analys