Influx Healthtech Limited has launched its much-anticipated IPO on June 18, 2025. As a healthcare-centric manufacturer in the SME space, the company aims to raise ₹58.57 crores through a combination of fresh equity issuance and an offer for sale (OFS). Given the significant attention from retail investors and grey market enthusiasm, this IPO stands out in the list of 2025 SME offerings.
This detailed article explores every dimension of the Influx Healthtech IPO — from offer structure, GMP updates, share reservation, subscription status, company financials, and industry outlook to expert verdicts on whether to subscribe.
Influx Healthtech IPO Overview
Key Dates and Details:
| Event | Details |
|---|---|
| IPO Open Date | 18th June 2025 |
| IPO Close Date | 20th June 2025 |
| Allotment Date | 23rd June 2025 |
| Refund Initiation Date | 24th June 2025 |
| Listing Date (Tentative) | 25th June 2025 |
| Listing Exchange | NSE SME Platform |
| Issue Type | Book Building |
| Face Value | ₹10 per share |
| Price Band | ₹91 – ₹96 per share |
| Lot Size | 1,200 shares |
| Minimum Investment (Retail) | ₹1,15,200 |
| Issue Size | ₹58.57 crore |
| Fresh Issue | ₹48.00 crore (50.00 lakh shares) |
| Offer for Sale | ₹10.56 crore (11.00 lakh shares) |
Maashitla Securities Pvt. Ltd. is the official registrar managing allotments and refunds.
Influx Healthtech IPO GMP (Grey Market Premium) Trend
The grey market premium (GMP) for Influx Healthtech IPO has shown a strong uptrend:
| Date | GMP (₹) | IPO Price (₹) | Est. Listing Price (₹) | Listing Gain (%) |
|---|---|---|---|---|
| 17 June 2025 | ₹35 | ₹96 | ₹131 | 36.45% |
| 16 June 2025 | ₹22 | ₹96 | ₹118 | 22.91% |
| 15 June 2025 | ₹24 | ₹96 | ₹120 | 25.00% |
As of June 17, the GMP of ₹35 implies strong investor sentiment and projected listing gains.
Share Reservation Breakdown
SEBI’s reservation norms apply to the Influx Healthtech IPO:
| Investor Category | Allocation |
|---|---|
| Qualified Institutional Buyers (QIBs) | <50% |
| Non-Institutional Investors (NIIs) | >15% |
| Retail Individual Investors (RIIs) | >35% |
| Market Maker | 3,06,000 shares |
Financial Overview of Influx Healthtech Ltd
Summary of Key Financials (₹ in crore):
| Year Ending | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|
| Revenue | 76.07 | 100.10 | 104.99 |
| Profit After Tax | 7.20 | 11.22 | 13.37 |
| Net Worth | 11.65 | 22.87 | 36.15 |
| Debt | 0.80 | 0.32 | 0.22 |
| Assets | 28.30 | 41.10 | 70.30 |
Highlights:
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Revenue grew 38% between FY23 and FY25.
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PAT growth of over 85% in the last two years.
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Very low debt indicating strong balance sheet health.
Technical Metrics and Valuation
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| PE Ratio | 13.04 | 16.63 |
| EPS | ₹7.36 | ₹5.77 |
| Return on Net Worth | 36.98% | TBD |
| Return on Capital Employed | 49.17% | TBD |
| PAT Margin | 12.75% | TBD |
| Market Capitalisation | ₹222.24 crore | ~₹240 crore est |
The valuation is moderate and considered fair based on SME benchmarks. A 13.04 PE places it below its closest peer, Sudarshan Pharma Industries, which trades at a PE of 44.55.
Peer Comparison
| Company Name | Revenue (Cr.) | PE Ratio | EPS | RoNW (%) |
|---|---|---|---|---|
| Influx Healthtech Ltd | 104.99 | 13.04 | 7.36 | 36.98 |
| Sudarshan Pharma Industries Ltd | 466.00 | 44.55 | 0.66 | 17.63 |
| Quest Laboratories Ltd | 82.79 | 11.15 | 8.28 | 34.03 |
Influx’s superior EPS and RoNW offer a strong value proposition compared to its peers.
Business Overview
Established: 2020
Sector: Healthcare Contract Manufacturing
Product Lines:
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Nutraceuticals: Capsules, tablets, softgels
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Cosmetics: Skin, hair, face, hygiene products
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Homecare: Disinfectants, soaps, cleaning powders
The company provides private-label services to major nutraceutical and cosmetic brands, offering an end-to-end supply chain from formulation to packaging.
Key Strengths
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Diverse product mix addressing multiple consumer categories
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State-of-the-art manufacturing facilities
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Experienced promoters with extensive industry exposure
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Strict quality control and in-house R&D team
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Expanding nutraceutical division with scalable infrastructure
IPO Objectives and Fund Utilization
Proceeds from the IPO will be used as follows:
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Working Capital: ₹18 crore
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Capital Expenditure: ₹21 crore (New Nutraceutical facility setup)
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Machinery Purchase: For Homecare and Cosmetic divisions
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General Corporate Purposes: Remaining balance
Promoter Holdings
| Shareholding Structure | Pre-IPO | Post-IPO |
|---|---|---|
| Promoters | 99.85% | 73.53% |
| Public | 0.15% | 26.47% |
The IPO will dilute promoter holdings but still ensure a significant controlling stake.
Risks and Concerns
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Sector Competition: Faces stiff competition from large domestic and international contract manufacturers.
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Dependence on Contract Orders: Revenues are tied closely to customer demand cycles.
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Limited Employee Base: Operational scalability may be delayed in short term.
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Post-IPO Valuation Stretch: Post-issue PE at 16.63 is on the higher side for the SME segment.
IPO Subscription Status (Live Tracker)
As of 18th June 2025 (Day 1), the official subscription data has not yet been released. Updates will follow in coming sessions, including retail, NII, and QIB categories.
Should You Invest?
Pros:
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Profitable with consistent revenue growth
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Strong financial ratios and low debt
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High grey market premium suggests bullish sentiment
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Healthy return metrics (ROCE, RoNW)
Cons:
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Operates in fragmented and highly competitive sector
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Valuation post-issue is slightly stretched
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SME listings are less liquid and carry higher volatility
Expert View:
According to Dilip Davda, Chief Editor at Chittorgarh:
“The company shows financial stability and solid return ratios. However, recent profit spikes warrant caution. Conservative investors may apply cautiously for long-term returns.”
How to Apply for Influx Healthtech IPO
Through Broker (Zerodha, Upstox, Groww, etc.)
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Login to your broker’s app
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Navigate to IPO section
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Select “Influx Healthtech Ltd”
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Choose number of lots (minimum 1 lot = 1,200 shares)
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Submit and approve UPI mandate
Through NSE Direct
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Visit NSE IPO page
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Login with PAN or UCC
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Choose Influx Healthtech IPO
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Enter application and bank details
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Submit application
How to Check IPO Allotment
On NSE Website:
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Visit: https://www.nseindia.com
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Go to IPO > Allotment
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Enter PAN or application number
On Registrar Website (Maashitla Securities):
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Visit: https://maashitla.com
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Select “Influx Healthtech IPO”
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Provide PAN/application ID
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View allotment result
Final Verdict
Influx Healthtech IPO offers a mix of healthy financials, growth in the contract manufacturing space, and strong promoter backing. While the SME platform involves a degree of liquidity risk and valuation caution, the company’s product line expansion and operational scalability make it a viable investment for those willing to wait beyond the listing pop.
Retail investors with medium to high-risk appetite and a long-term investment horizon can consider applying to this IPO. Conservative investors should evaluate post-listing price performance before entry.
