Influx Healthtech Limited, a Mumbai-based healthcare-focused company, has made a remarkable debut in the IPO market with an overwhelming subscription of 187.32 times. The IPO, which was open for subscription from June 18 to June 20, 2025, is now set for allotment on June 23, followed by a listing on the NSE SME platform on June 25, 2025. This incredible investor interest has propelled Influx Healthtech into the spotlight, especially considering the robust financial performance, attractive valuation, and growth potential it presents.

Founded in 2020, Influx Healthtech is a Contract Development and Manufacturing Organization (CDMO), delivering specialized manufacturing services to a wide array of clients across the Nutraceuticals, Veterinary Food, Homecare, Ayurvedic, Cosmetic, and Pharmaceutical industries. The company’s rapid expansion and specialized services have made it a notable name in the healthcare contract manufacturing space in India.

The company launched a Book Built Issue worth ₹58.57 Crores, which includes a Fresh Issue of 50 lakh equity shares aggregating ₹48.00 Crores and an Offer for Sale (OFS) of 11 lakh equity shares amounting to ₹10.57 Crores. The price band for the IPO was fixed at ₹91 to ₹96 per share, and the lot size was set at 1,200 shares, which translates to a minimum investment of ₹1,15,200 for retail investors and ₹2,30,400 for HNIs.

At the upper price band of ₹96, the market capitalisation of Influx Healthtech stands at ₹222.24 Crores. RAREVER FINANCIAL ADVISORS PRIVATE LIMITED served as the Book Running Lead Manager, while MAASHITLA SECURITIES PRIVATE LIMITED acted as the Registrar. R.K. Stockholding Private Limited is the designated Market Maker for the IPO.

IPO Subscription and Investor Response

The Influx Healthtech IPO was a massive hit among investors, with the offering getting oversubscribed by 187.32 times. This level of demand is a strong indicator of investor confidence in the company’s business model, sectoral growth potential, and overall financial health. The subscription was driven by interest across all categories—Retail, NII, and QIBs.

Additionally, the company successfully raised ₹16.66 Crores from Anchor Investors on June 17, 2025, by allotting 17,36,400 equity shares at ₹96 per share, confirming institutional confidence in the offering.

Grey Market Premium (GMP) Indication

The Grey Market Premium (GMP) for the Influx Healthtech IPO has been reported at ₹11, implying an expected listing price of ₹107, which is a 10.56% premium over the upper price band. While GMP is unofficial and not regulated, it often serves as a preliminary indicator of market sentiment and listing expectations. However, investors are advised not to rely solely on GMP for making investment decisions, as it is influenced by unregulated, speculative market forces.

Allotment and Listing Details

The IPO allotment status is expected to be announced on Monday, June 23, 2025. Investors can check their allotment by visiting the registrar’s website, selecting "Influx Healthtech Limited" from the dropdown, and entering their PAN, Application Number, or DP ID.

The company’s shares are expected to be listed on the NSE SME platform on Wednesday, June 25, 2025.

Utilisation of IPO Proceeds

The objectives of the IPO proceeds are strategically aligned with Influx Healthtech’s expansion plans:

1. ₹2,260.11 Lakhs will be used for capital expenditure to establish a manufacturing facility for the Nutraceutical Division.

2. ₹1,158.58 Lakhs is allocated for setting up a Veterinary Food Division facility.

3. ₹275.65 Lakhs is earmarked for machinery purchases for Homecare and Cosmetic Division.

4. Remaining funds will be used for General Corporate Purposes.

These initiatives are aimed at expanding capacity, diversifying product lines, and improving operational efficiency.

Company Financials and Performance

Influx Healthtech has shown consistent financial growth since inception. Here's a summary of its financial performance:

• FY 2022-23 Revenue: ₹7,605.65 Lakhs

• FY 2023-24 Revenue: ₹10,001.60 Lakhs

• FY 2024-25 Revenue: ₹10,498.67 Lakhs

Similarly, the EBITDA has improved from ₹1,072.34 Lakhs in FY23 to ₹2,070.45 Lakhs in FY25. The Profit After Tax (PAT) has seen a healthy growth from ₹719.63 Lakhs in FY23 to ₹1,336.60 Lakhs in FY25.

The earnings per share (EPS) stood at ₹7.36 (pre-issue) and ₹5.77 (post-issue) for FY24. The Price-to-Earnings (P/E) ratio was 13.04x pre-issue and 16.63x post-issue, which is well below the industry P/E average of 29x, indicating a reasonably priced IPO.

The Return on Capital Employed (ROCE) and Return on Equity (ROE) are also noteworthy:

• ROCE for FY24: 49.17%

• ROE for FY24: 36.98%

• Return on Net Worth (RoNW): 36.98%

These financial indicators reinforce the company’s operational efficiency and profitability.

Promoters and Leadership

Influx Healthtech is spearheaded by seasoned professionals:

• Mr. Munir Abdul Ganee Chandniwala – Over 22 years of experience in Nutraceuticals, Cosmetics, Ayurvedic, and Homecare.

• Mrs. Shirin Munir Ahmed Chandniwala – 12+ years in packaging materials trading.

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

The promoters bring valuable domain expertise, industry insights, and operational know-how to the table.

IPO Review and Investment Perspective

The Influx Healthtech IPO appears to be a compelling opportunity for investors, especially considering the company’s sound financials, moderate valuations, and strategic expansion plans. The robust subscription and positive GMP trend also indicate a favourable market reception.

However, it is essential to note that the IPO is listed on the NSE SME platform, which may have lower liquidity compared to mainboard listings. Thus, while listing gains seem likely, long-term investors should evaluate their risk appetite before making a decision.

Our view: Risk-accepting investors may consider applying for the IPO for potential listing gains, given the strong fundamentals and current GMP. But as always, decisions should be guided by personal financial goals and risk tolerance.

Disclaimer:
This article is meant purely for educational and informational purposes and not investment advice. The Influx Healthtech IPO has attracted substantial investor interest and showcases promising potential, but all investment decisions must be taken with due diligence and professional consultation. Market conditions may change, and past performance is not indicative of future results. Always read all offer documents carefully before investing in any IPO or financial instrument.

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