Influx Healthtech list at 38% premium over IPO price on NSE SME with strong investor confidence

The healthcare contract manufacturing specialist, Influx Healthtech Limited, made a robust debut on the National Stock Exchange SME platform on June 25, 2025. After closing its IPO bidding between June 18 - June 20, 2025, the company commenced trading with a substantial 38% premium to its issue price, delivering impressive returns to investors despite the challenging market environment. This book-building IPO raised ₹58.57 crore with an extraordinary subscription of 201.35 times, reflecting exceptional investor appetite for the healthcare manufacturing sector as the company seeks to expand its contract development and manufacturing organisation capabilities across nutraceuticals, cosmetics, and veterinary segments.

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Influx Healthtech IPO Listing Details

Influx Healthtech Limited launched its IPO through the book-building process with shares priced at ₹96 per share. The minimum investment required was 1,200 shares costing ₹1,15,200 at the cutoff price. The IPO received an outstanding response with an overall subscription of 201.35 times - NII segment leading at an extraordinary 481.10 times, QIB at 137.87 times, and retail at 117.68 times by the final day of bidding, demonstrating remarkable investor enthusiasm across all categories. Influx Healthtech's share price listed at ₹132.5 on NSE SME, delivering a strong 38% premium from the issue price of ₹96. The stock's debut performance significantly exceeded grey market expectations and underscored positive market sentiment towards the healthcare CDMO sector.

Listing Price: The Influx Healthtech share price opened at ₹132.5 on NSE SME on June 25, 2025, representing a premium of 38% from the issue price of ₹96, substantially exceeding grey market expectations of ₹116 and delivering exceptional gains for investors at listing.

First-Day Trading Performance Outlook

Influx Healthtech IPO commenced trading on the NSE SME platform on June 25, 2025, witnessing an impressive stock market debut that surpassed market expectations considerably. The Influx Healthtech share price opened at ₹132.5, marking a substantial 38% premium from its IPO price of ₹96, significantly outperforming grey market predictions, which had indicated a listing around ₹116 based on the GMP of ₹20. The company entered the market with established operations as a contract development and manufacturing organisation, operating three modern facilities in Thane, Maharashtra, serving diverse healthcare segments including nutraceuticals, cosmetics, personal care, ayurvedic, veterinary, and homecare products with comprehensive end-to-end manufacturing capabilities.

Growth Drivers and Challenges

Influx Healthtech presents compelling growth opportunities within the expanding healthcare contract manufacturing space through its diversified product portfolio and established operational capabilities, though it faces sustainability concerns regarding recent profit surges and competitive market dynamics.

Growth Drivers:

• Diversified Manufacturing Portfolio: Comprehensive product range spanning tablets, capsules, gummies, skincare products, herbal supplements, veterinary formulations, and homecare solutions across multiple high-growth healthcare segments
• Modern Infrastructure: Three strategically located manufacturing facilities in Thane, Maharashtra, covering 36,676 square feet total area with advanced production capabilities and scalable operations
• CDMO Business Model: End-to-end contract development and manufacturing services including formulation, R&D, regulatory support, and packaging, enabling comprehensive client solutions and recurring revenue streams
• Market Positioning: Well-positioned in the expanding nutraceutical and wellness markets with expertise across multiple verticals, including cosmetics, personal care, and veterinary segments
• Financial Performance: Strong revenue growth of 5% and robust PAT growth of 19% in FY25, with impressive ROE of 36.98% and ROCE of 49.17%, demonstrating operational efficiency

Challenges:

• Profitability Sustainability: Concerns over a sudden boost in bottom lines for FY24 and FY25, raising questions about long-term sustainability and consistency of profit margins in competitive markets
• Competitive Landscape: Operating in a highly competitive and fragmented contract manufacturing segment with established players and pricing pressures affecting margin retention and market share
• Fully Priced Valuation: The Issue appears fully priced based on recent financial performance with P/E of 16.63 post-issue and a price-to-book value of 7.62, suggesting limited upside potential
• Scale Limitations: Relatively small operational scale with 163 employees and modest facility sizes compared to larger industry players, potentially limiting capacity for major contracts

Utilisation of IPO Proceeds

Influx Healthtech plans to utilise the ₹58.57 crore raised through the fresh issue and offer for sale primarily for capacity expansion and manufacturing capability enhancement across its key business divisions.

• Nutraceutical Manufacturing Facility: ₹22.60 crore allocated for funding capital expenditure requirements for setting up an expanded manufacturing facility for the nutraceutical division to enhance production capacity
• Veterinary Food Division Expansion: ₹11.59 crore designated for funding capital expenditure requirements for establishing a manufacturing facility for the veterinary food division to enter this growing segment
• Machinery Acquisition: ₹2.76 crore earmarked for the purchase of machinery for homecare and cosmetic divisions to upgrade production capabilities and improve operational efficiency
• General Corporate Purposes: Remaining funds allocated for general corporate purposes to support strategic initiatives, working capital requirements, and business development activities

Financial Performance of Influx Healthtech IPO

Influx Healthtech has demonstrated steady financial performance with consistent growth across key metrics and strong profitability indicators:

• Revenue: ₹104.99 crore for FY25, showing solid growth trajectory with 5% increase from ₹100.10 crore in FY24 and substantial 38% growth from ₹76.07 crore in FY23, reflecting expanding client base and market penetration
• Net Profit: ₹13.37 crore in FY25, demonstrating robust profitability with 19% growth from ₹11.22 crore in FY24 and impressive 86% growth from ₹7.20 crore in FY23, showcasing improving operational efficiency and margin expansion
• Financial Metrics: The company exhibits excellent ROE of 36.98%, outstanding ROCE of 49.17%, and a minimal debt-to-equity ratio of 0.01, with a healthy PAT margin of 12.75% and EBITDA margin of 19.62%, indicating strong operational performance and efficient capital utilisation

Influx Healthtech represents a promising investment opportunity in the healthcare contract manufacturing sector with its diversified product portfolio, modern infrastructure, and strong financial performance, delivering exceptional listing gains. Whilst the company faces challenges including sustainability concerns over recent profit improvements and competitive market dynamics, its established CDMO capabilities and positioning in high-growth healthcare segments provide significant potential for capitalising on India's expanding nutraceutical and wellness markets. The outstanding listing performance with a 38% premium and extraordinary subscription of 201.35 times reflects strong investor confidence in the company's business model and growth prospects within the healthcare manufacturing landscape.