Avendus Bets Big on Jhunjhunwala-Backed IKS Health, Projects 20% Upside

• Avendus Capital initiated 'Buy' on Inventurus Knowledge Solutions Ltd (IKS Health) with a ₹2,020 price target, implying a 20% upside.
• The brokerage forecasts 16% CAGR in dollar revenue over three years and EBITDA margins expanding to 33.6% by FY28.
• IKS Health provides a care enablement platform for US healthcare providers, serving over 778 organizations including marquee clients.
• The Jhunjhunwala family, through trusts and Rekha Jhunjhunwala, holds a significant stake (~49%) in the company.
• Motilal Oswal and Nomura also have 'Buy' ratings on IKS Health, citing strong client mining and structural growth drivers.

Why It Matters: Avendus and other brokerages see significant growth potential in Jhunjhunwala-backed IKS Health.