In a notable development for Indian investors, global brokerage firm Nomura has initiated coverage on Inventurus Knowledge Solutions (IKS Health) with a ‘Buy’ rating and a price target of INR 2,000 per share. The target represents a potential upside of approximately 28% from the company’s recent closing price, underscoring Nomura’s confidence in IKS’s long-term growth prospects.
IKS Health is a large-cap, technology-enabled healthcare solutions provider, catering primarily to the U.S. healthcare market. The company has garnered attention on Dalal Street as one of the most promising players in healthcare outsourcing, especially following its December 2024 market debut.
IKS Health Stock Performance and Market Response
On 25 November 2025, IKS shares surged sharply, closing 5.6% higher at INR 1,660 on the BSE, marking their biggest single-day gain in five months. The stock rose as much as 7.5% intraday to INR 1,690, effectively erasing losses from four consecutive sessions. At Friday’s closing price of INR 1,560.10, Nomura’s target implies an upside potential of 27–28%.
Despite this recent rally, IKS Health shares remain about 14–20% lower year-to-date, making them, in Nomura’s view, an attractive entry opportunity in the healthcare technology space. The company’s market capitalisation now exceeds INR 28,400 crore.
Nomura Coverage on IKS Health: Investment Thesis
Nomura’s coverage note projects a robust outlook for IKS Health, grounded in sector-wide expansion and the company’s strong fundamentals. Key highlights include:
- U.S. Healthcare Outsourcing Growth: The U.S. healthcare outsourcing market is expected to grow at a 12% compound annual growth rate (CAGR) from CY2023 to CY2028.
- Strong Financial Trajectory: Nomura forecasts IKS’s revenue and earnings per share (EPS) to grow at 16.4% and 32.5% CAGRs, respectively, over FY2025–FY2028.
- Long-Term Client Relationships: The company has maintained enduring partnerships with marquee clients such as Mass General Brigham Inc., Texas Health Care PLLC, and The GI Alliance Management. Its top five clients delivered 19% CAGR growth, and the top ten achieved 21% CAGR growth between FY2022–FY2025.
- Next-Generation Platform: IKS’s integrated “care enablement” platform supports more than 778 healthcare organisations across the U.S., Canada, and Australia. Its advanced technology stack and scalability give it a competitive edge amid growing regulatory and cost pressures in the healthcare provider ecosystem.
Ownership and Promoter Holding
The company’s shareholder profile further strengthens investor confidence. The Jhunjhunwala family, through three discretionary trusts—Nistha, Aryavir, and Aryaman—collectively holds a 16.37% stake, while Rekha Jhunjhunwala individually owns 0.23%, equivalent to 3,90,478 shares. As of the September 2025 quarter, promoters collectively held 63.72% of the company’s equity.
This substantial promoter holding, combined with strong institutional interest, positions IKS Health among the leading healthcare plays in the BSE 500 index.
Inventurus Knowledge Solutions: Financial Performance
According to company filings, standalone revenue for the July–September 2025 quarter stood at INR 355.69 crore, with a net profit of INR 138.40 crore. For FY2025, IKS reported revenue of INR 973 crore and net profit of INR 331.95 crore, reflecting a healthy growth trajectory post-listing.
The company’s return on equity (ROE) has been particularly strong, averaging 37% over the past three years, highlighting effective capital deployment and operational efficiency.
The Road Ahead
As U.S. healthcare providers increasingly seek integrated, cost-efficient solutions, IKS Health’s positioning as a comprehensive, one-stop care enablement platform may prove advantageous. Nomura’s report suggests that with continued client expansion, technological differentiation, and consistent earnings growth, IKS Health could emerge as a long-term compounder within India’s healthcare technology space.
For investors, this Jhunjhunwala family-backed enterprise stands out not only for its immediate 28% upside potential but also as a strategic play on global healthcare digitisation trends. Whether held or newly added to portfolios, IKS Health represents, as Nomura frames it, an attractive growth opportunity in the healthcare solutions sector.
For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.