Jhunjhunwala family-backed IKS Health may see block deal worth over ₹400 crore

Inventurus Knowledge Solutions Ltd., the Jhunjhunwala family-backed healthcare solutions provider, is likely to see a large trade take place in the stock on Thursday, June 19.

Based on the data accessed by CNBC-TV18, 1.5% of the company's outstanding equity is likely to change hands in the block deal.

Multiple individual investors are likely to be sellers in this transaction, sources in the know told CNBC-TV18.

Floor price for the block deal has been fixed at ₹1,650 per share, which is a discount of 2.6% in comparison to Wednesday's closing price.

Taking into account the number of outstanding shares and the floor price of the transaction, the total block deal value is likely to be in excess of ₹400 crore.

The Nistha Jhunjhunwala Discretionary Trust, Aryavir Jhunjhunwala Discretionary Trust and Aryaman Jhunjhunwala Discretionary Trust are classified as promoters of IKS Health, with a 16.37% stake each. Other individual entities are also classified as promoters of the company at the end of the March quarter.

Interestingly, the block deal comes just a day after the company's six months and beyond shareholder lock-in period ended on Wednesday. As many as 10.5 crore shares of the company worth nearly $20 billion became eligible to trade as the lock-in period ended.

IKS Health was also part of CNBC-TV18's D-Street Chatter on Wednesday, where it was highlighted that a block deal is likely to take place in the stock.

Shares of IKS Health ended 8.7% lower on Wednesday at ₹1,695. The stock is trading 22% below its post-listing high of ₹2,185.