Influx Healthtech Limited made a strong debut on the NSE SME platform by listing at ₹132 per share, marking a 38% premium over its IPO price of ₹96. This listing performance significantly outperformed the grey market premium (GMP) estimates of ₹11, or approximately 10.5%, showing that investor demand and interest were far more robust than initially anticipated.

Influx Healthtech, a Mumbai-based Contract Development and Manufacturing Organization (CDMO), launched its ₹58.57 crore IPO on June 18, 2025, which concluded on June 20, 2025. The IPO consisted of a Fresh Issue of 50 lakh equity shares worth ₹48 crore and an Offer for Sale (OFS) of 11 lakh shares totaling ₹10.57 crore. The price band was set between ₹91 to ₹96 per share, and the lot size was 1,200 shares, making the minimum investment ₹1,15,200 for retail investors and ₹2,30,400 for HNIs.

The IPO allotment was finalized on June 23, 2025, and the listing took place on June 25, 2025. The market capitalization of the company at the upper price band stood at ₹222.24 crore. The IPO was managed by RAREVER Financial Advisors Private Limited, with Maashitla Securities Private Limited acting as the registrar. R.K. Stockholding Private Limited was the designated market maker for the issue.

The IPO received massive investor interest, being oversubscribed 187.32 times on the final day. The breakdown of the subscription was heavily skewed toward institutional and non-institutional investors, reflecting confidence in the company’s financials and future growth strategy.

Notably, anchor investors played a vital role by infusing ₹16.66 crore at ₹96 per share, subscribing to 17,36,400 equity shares, which not only provided financial strength but also boosted market sentiment ahead of the listing.

Company Overview

Founded in 2020, Influx Healthtech Limited has rapidly emerged as a leading healthcare manufacturing company specializing in the development and production of nutraceuticals, cosmetics, Ayurvedic products, veterinary feed supplements, homecare products, APIs, and more. The company owns three manufacturing facilities in Palghar, Thane, Maharashtra, spanning 9,676 sq. ft., 13,000 sq. ft., and 14,000 sq. ft., all certified with GMP, HACCP, ISO 22000, and Halal standards.

It employs a skilled workforce of 163 permanent employees and is supported by Axis Bank as its banker. Its client portfolio includes reputed names such as Bling Brands Private Limited, Evoq Business Ventures LLP, HSHS Nutraceuticals Limited, Bruder Life Science, and Bigflex Lifescience Private Limited.

Sectoral Opportunity

Influx Healthtech operates in several high-growth sectors, namely Nutraceuticals, FMCG, Ayurveda, and the Pet Food industry.

• The nutraceutical sector is booming globally with a valuation of $400 billion, and although India’s share is under 2%, it holds significant potential, thanks to a rich heritage in Ayurveda and supportive government initiatives like the CSIR Nutraceutical Task Force.

• The FMCG sector in India remains one of the country’s strongest economic drivers, expected to reach $615.87 billion by 2027, growing at a CAGR of 27.9%. Influx Healthtech’s products in homecare and cosmetics are strategically positioned to capture this growing demand.

• Ayurveda, an ancient Indian system of medicine, is seeing renewed global interest due to its natural and sustainable approach to health and wellness.

• The pet food sector is another growth avenue, with market size expected to double from $843.89 million in 2024 to $1.98 billion by 2030, propelled by urbanization, rising income levels, and increasing awareness of pet nutrition.

Strategic Utilization of IPO Proceeds

The company intends to deploy the net proceeds as follows:

1. ₹22.60 crore for capital expenditure related to the Nutraceutical manufacturing facility.

2. ₹11.58 crore to set up the Veterinary Food Division.

3. ₹2.75 crore for purchasing machinery for the Homecare and Cosmetic division.

4. Remaining funds are earmarked for general corporate purposes.

This well-distributed investment plan reflects a balanced and growth-oriented approach.

Financial Growth and Strategy

Influx Healthtech reported strong revenue performance in the nutraceutical division, increasing from ₹71.61 crore in FY 2022-23 to ₹93.47 crore in FY 2023-24, and marginally to ₹94.04 crore in FY 2024-25. Although growth slowed in the most recent fiscal year, the overall CAGR remains healthy.

The company’s strategy focuses on diversification, geographic expansion, and investment in advanced machinery to scale manufacturing and cater to rising demand across its verticals.

Strengths of Influx Healthtech

• Diversified Product Range: Covers dietary supplements, Ayurvedic products, oral dispersible films, gummy candies, injectables, and more.

• Diverse Clientele: Spread across cosmetics, pharma, and homecare, reducing dependency on any single sector.

• Quality Assurance: Comprehensive quality control systems ensure regulatory and customer compliance.

• In-House R&D: A robust formulation development team works on new, compliant, and market-ready innovations.

Risk Factors and Concerns

While the company is off to a strong start, there are certain inherent business risks:

1. Heavy reliance on the nutraceutical sector poses revenue risk if the sector slows down or if major clients withdraw.

2. Geographic concentration of manufacturing in Maharashtra makes the company vulnerable to region-specific disruptions such as natural calamities or logistic bottlenecks.

3. Revenue dependency on select states like Maharashtra, Gujarat, and Karnataka increases exposure to regional economic trends and competition.

4. The absence of an AYUSH license, though not required currently, may become essential in the future, especially if regulatory frameworks change or the business expands.

Conclusion

The remarkable 38% premium listing of Influx Healthtech Limited shares on the NSE SME platform is a clear indication of market confidence, sound business fundamentals, and the growing investor appetite for healthcare manufacturing companies operating in high-growth sectors like nutraceuticals, Ayurveda, and FMCG.

Backed by strong anchor investor support, robust demand, and a well-outlined strategy for expansion, Influx Healthtech is well-positioned to capitalize on emerging industry trends. However, the company must remain vigilant of its risk exposures and work on geographical and sectoral diversification to ensure long-term sustainable growth.

As the Indian healthcare and wellness market continues its exponential growth trajectory, companies like Influx Healthtech stand to benefit significantly, both in terms of market share and investor trust.

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