Influx Healthtech Limited, a company positioned in the growing health-tech and nutraceutical space, has entered the Indian primary market with a compelling SME IPO. With the issue currently open and investor appetite increasing rapidly, it is one of the most closely tracked IPOs in June 2025. The issue, which opened on June 18 and is scheduled to close on June 20, has already generated a wave of interest across the retail and high-net-worth individual categories.
As of June 19, 2025, the grey market premium (GMP) for the Influx Healthtech IPO has surged to ₹45 per share. This signals a high level of investor enthusiasm and suggests the stock could list at a significant premium to its upper band issue price of ₹96. With listing scheduled on June 25, expectations are riding high.
IPO Structure and Pricing Band
Influx Healthtech’s IPO is being offered through the book-building route and carries a price band of ₹91 to ₹96 per share. The issue comprises a fresh equity issue of 50 lakh shares amounting to ₹48 crore and an offer for sale of 11 lakh shares worth ₹10.56 crore. The total issue size stands at 61 lakh shares or approximately ₹58.57 crore.
The lot size for retail investors has been set at 1,200 shares, requiring a minimum investment of ₹1,15,200. The shares will be listed on the NSE SME platform, with the tentative listing date set for June 25, 2025.
Grey Market Premium Surges on Strong Sentiment
The GMP trend for Influx Healthtech has shown a clear upward movement in the past week. On June 19, 2025, the GMP touched ₹45 per share, up from ₹42 the previous day. This takes the estimated listing price to around ₹141 (₹96 issue price + ₹45 premium), implying a potential listing gain of approximately 47 percent.
This rise in GMP reflects growing investor confidence, with strong demand anticipated during the final day of bidding. In comparison, the GMP on June 16 stood at just ₹22. The consistent growth in grey market premium is a strong indicator of perceived demand and profitability potential among informal trading circles.
GMP and Listing Price Trend Table
Below is a detailed snapshot of how the GMP and estimated listing price have evolved over the past week:
Influx Healthtech IPO GMP Trend
| Date | GMP (₹) | IPO Price (₹) | Estimated Listing Price (₹) | Estimated Listing Gain (%) |
|---|---|---|---|---|
| 11-Jun-2025 | 0 | 96 | 96 | 0.00 |
| 12-Jun-2025 | 0 | 96 | 96 | 0.00 |
| 13-Jun-2025 | 0 | 96 | 96 | 0.00 |
| 14-Jun-2025 | 0 | 96 | 96 | 0.00 |
| 15-Jun-2025 | 24 | 96 | 120 | 25.00 |
| 16-Jun-2025 | 22 | 96 | 118 | 22.91 |
| 17-Jun-2025 | 35 | 96 | 131 | 36.45 |
| 18-Jun-2025 | 40 | 96 | 136 | 41.66 |
| 19-Jun-2025 | 45 | 96 | 141 | 46.88 |
Visual Representation of GMP and Listing Price Trends
To provide a clearer view of the growing investor sentiment, the chart below shows the GMP and estimated listing price movement over time:
This trend clearly demonstrates increasing optimism among grey market traders and early IPO observers.
Subscription Status: Retail and HNI Investors Lead the Way
As of the close of bidding on June 18, the IPO had seen an overall subscription of approximately 3.3 times. The retail investor segment stood out with a subscription of over 8.3 times, while the non-institutional investor (NII) category followed closely at 5.8 times.
The qualified institutional buyer (QIB) segment, however, had yet to submit bids. This is not uncommon in SME IPOs, where institutional buyers typically wait until the final day to gauge broader investor sentiment and financial disclosures. Nonetheless, the robust performance in the retail and HNI segments has created a solid demand base.
Financial Performance: Steady Growth with Strong Margins
From a financial standpoint, Influx Healthtech has demonstrated steady growth in revenue and profitability over the past year. The company’s revenue increased from ₹100.10 crore in FY24 to ₹104.99 crore in FY25, reflecting a year-on-year growth of 4.88 percent.
More importantly, net profit grew by over 19 percent, rising from ₹11.22 crore to ₹13.37 crore. This led to an earnings per share (EPS) of ₹7.36 pre-IPO. Post-issue EPS, considering the dilution from new shares, is expected to settle around ₹5.77.
The price-to-earnings (P/E) ratio based on post-issue earnings is approximately 16.63 times. For a mid-sized company in the high-growth health-tech and nutraceutical space, this valuation appears reasonable and leaves room for investor upside.
Key Profitability Ratios and Valuation Metrics
Influx Healthtech has also posted impressive operational ratios. The return on capital employed (ROCE) stands at 49.17 percent, while return on net worth (RoNW) is at 36.98 percent—both considered strong metrics, especially for a company expanding its manufacturing capabilities.
The company’s profit after tax (PAT) margin is 12.75 percent, suggesting effective cost management and pricing control. Its post-IPO market capitalization is estimated to be around ₹222 crore.
IPO Objectives: Focused Capital Deployment for Expansion
The proceeds from the IPO will primarily be used for expansion initiatives. A significant portion is earmarked for setting up a manufacturing facility for the company’s nutraceutical division. Additional capital will go toward acquiring machinery and equipment for the homecare and cosmetic product lines. Remaining funds will support working capital requirements and general corporate purposes.
This strategic capital allocation is expected to help the company scale operations in response to increasing demand and also deepen its market presence in the health and wellness industry.
Analyst Opinions: Cautious Optimism for Short-Term Gains
Industry analysts have assigned neutral to moderately positive ratings to the IPO. While fundamentals do not suggest explosive growth in the near term, the valuation is reasonable, and the sector has favorable tailwinds. Most analysts have highlighted that the real appeal of the IPO lies in its listing potential, not necessarily in long-term investment merit—at least not until post-listing execution is observed.
The absence of QIB participation, as of June 18, has also led to some caution. That said, grey market trends and the aggressive retail demand are encouraging signs that indicate strong early momentum.
Risks and Considerations
Despite the positive sentiment, the IPO carries certain risks. The nutraceutical and homecare segments in India, while fast-growing, are still relatively under-regulated. This introduces potential quality control and compliance risks, especially as the company scales up production.
Moreover, the absence of institutional interest thus far may be a warning signal regarding long-term visibility or corporate governance standards. Additionally, with high listing expectations priced in, any post-listing disappointment in growth or revenue delivery may result in quick corrections.
Listing Day Expectations
If current trends continue, the IPO is expected to list in the range of ₹140 to ₹145 per share on June 25, 2025. This reflects a 45 to 50 percent premium over the issue price of ₹96. Given the rising GMP, retail over-subscription, and relatively fair valuations, the market expects a strong debut.
However, the final subscription data, particularly QIB participation on the last day, will play a crucial role in determining actual listing performance. Any material shift in sentiment—whether due to broader market conditions or global cues—could alter the trajectory on listing day.
Conclusion: A Retail-Led Momentum Play with Listing Potential
Influx Healthtech’s IPO is shaping up as a classic example of a retail-driven SME offering with strong short-term prospects. The company is financially sound, with scalable operations, rising revenue, and healthy margins. Its entry into a niche but fast-growing sector adds to its appeal, particularly for investors looking for thematic exposure to health and wellness.
For short-term investors aiming for listing gains, the IPO appears attractive, particularly given the strong GMP and enthusiastic subscription response. For long-term investors, however, it may be advisable to wait and watch how the company executes its post-IPO expansion strategy and how it handles regulatory scrutiny and competitive pressures.
In either case, Influx Healthtech has already succeeded in creating a buzz, and all eyes will now turn to its listing on June 25, where it will truly be tested in the open market.
Company Website:
Visit www.influxhealthtech.com for more information about the company, its product offerings, and investor relations.
