Credit Rating- New

June 22, 2026 BSE Limited National Stock Exchange of India Limited The Listing Department The Listing Department Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No. C/1, G Block, 25th Floor, Dalal Street Bandra Kurla Complex Fort, Mumbai 400 001 Bandra (East), Mumbai 400051 Maharashtra, India Maharashtra, India BSE Scrip Code: 544309 NSE Symbol: IKS Dear Sir/Ma’am, Sub: Submission of Press Release issued by CARE Ratings Limited in relation to Rating assigned to the Company. This is with reference to our intimation dated June 19, 2026 regarding the credit rating assigned by CARE Ratings Limited to Inventurus Knowledge Solutions Limited ("Company"), details of which are reproduced below: Type of Rating Rating1 Rating Action Issuer rating CARE A+; Stable Assigned 1Complete definitions of the ratings assigned are available at www.careratings.com and in other CARE Ratings Ltd.’s publications. We had also informed that the aforesaid rating is only an opinion on the general creditworthiness of the Company and not specific to any particular debt instrument. Pursuant to the above, we hereby submit the press release issued by CARE Ratings Limited on June 22, 2026 in connection with the aforesaid rating assignment. This disclosure is being made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This is for your information and records. Thanking you. Yours sincerely, For Inventurus Knowledge Solutions Limited Sameer Chavan Company Secretary and Compliance Officer Membership No. F7211 Encl: As above. Press Release Inventurus Knowledge Solutions Limited June 22, 2026 Facilities/Instruments Amount (₹ crore) Rating1 Rating Action Issuer rating 0.00 CARE A+; Stable Assigned Details of instruments/facilities in Annexure-1. The list of facilities / instruments falling under the purview of various financial sector regulators (FSRs), along with the names of respective FSRs has been disclosed under Annexure-7. Rationale and key rating drivers The issuer rating assigned to Inventurus Knowledge Solutions Limited (IKS Health) derives strength from its established track record in the US healthcare outsourcing market, its integrated care enablement platform spanning multiple administrative and clinical workflow services to the healthcare organisations, and experienced management team. The rating also factors in the company’s established client base with high repeat business and healthy operational performance supported by acquisition of Aquity Solutions Inc (Aquity, a US-based provider of medical transcription, coding, and scribe services) in FY24 (FY refers to April 01 to March 31), which expanded the company’s service portfolio and supported revenue growth. The rating also takes into cognisance the proposed debt-funded acquisition of TruBridge Inc., US (TruBridge), an integrated revenue cycle management (RCM) and Electronic Health Record (EHR) provider serving over 700 rural and community hospitals in the US, at a consideration of ~$560 million (~₹5,320 crore), which is expected to enhance IKS Health’s product portfolio, expand its distribution reach, and create cross-sell opportunities. However, the rating remains constrained by the company’s significant dependence on the US healthcare sector, moderate client concentration, and the expected moderation in the financial risk profile due to the proposed debt-funded acquisition, wherein timely integration and realisation of envisaged synergies remains critical. Additionally, the rating is also tempered by exposure to intense competition, risk of employee attrition and wage inflation, rapid technological changes, as well as regulatory, compliance, and foreign exchange risks. Rating sensitivities: Factors likely to lead to rating actions Positive factors • Sustained increase in the scale of operations with diversification in product offerings and increased market share. • Successful integration of the proposed acquisition of TruBridge resulting in improvement in net debt to profit before interest, lease rentals, depreciation, and tax (PBILDT) below 1.25x. Negative factors • Any large-size debt-funded capex, mergers or acquisitions or unrelated diversification leading to significant deterioration in the net debt to annualised PBILDT beyond 2x from Q4FY27 onwards on a sustained basis. • Adverse regulatory changes in the US healthcare outsourcing market significantly impacting the company's business. Analytical approach: Consolidated. CARE Ratings Limited (CareEdge Ratings) has analysed IKS Health’s credit profile basis its consolidated financials owing to significant operational, financial, and managerial linkages between IKS Health and its subsidiaries/ associates. Additionally, CareEdge Ratings also factored the company’s approved plan of acquisition of TruBridge and the proposed large-size debt to be availed for the funding of the TruBridge acquisition. Entities consolidated are mentioned in Annexure-6. Outlook: Stable Stable outlook reflects CareEdge Ratings’ expectation that IKS Health will continue to witness healthy operational performance, supported by its integrated care enablement platform, and expected cross-selling and synergy benefits from the proposed TruBridge acquisition, leading to strong operational cashflows and consequently improved financial risk profile in the medium term. Detailed description of key rating drivers: Key strengths Established track record and experienced management Incorporated in 2006, IKS Health has an established track record of operations in the US healthcare outsourcing market. IKS Health was founded by Mr. Sachin Gupta, who continues to lead the organisation as the Global Chief Executive Officer (CEO). The promoter group comprises Mr. Sachin Gupta and the Jhujhunwala family, collectively holding a 63.72% stake as on March 1Complete definition of ratings assigned are available at www.careratings.com and other CARE Ratings Limited’s publications. 1 CARE Ratings Ltd. Press Release 31, 2026. The promoters are supported by an experienced board with professionals across healthcare, investment management, strategy, technology and mergers & acquisitions, providing strong strategic and governance oversight. Over the years, the management has demonstrated strong execution capabilities through business scaling, platform development and acquisition-led expansion, supporting operational growth and diversification. Integrated care enablement platform IKS Health operates an integrated care enablement platform spanning multiple administrative and clinical workflows across the patient’s journey. The platform covers 16 critical workflows across the patient lifecycle, including appointment scheduling, financial clearance, patient engagement, clinical documentation, coding, billing, payment posting, denial prevention, and management of medical documents, prescriptions, and referrals. The integrated nature of offerings differentiates the company from several point-solution providers in the industry. The platform- led approach, supported by domain expertise and growing artificial intelligence (AI)-led capabilities, has enabled IKS Health to establish a meaningful position in the US healthcare outsourcing market. Further, the proposed acquisition of TruBridge is expected to broaden the company’s reach and offerings, enhancing its presence across the US healthcare market. Established client base with high repeat business and moderate client concentration IKS Health serves a client base of over 600 healthcare organisations as on March 31, 2026, including ~450 large enterprise clients. The company derives ~85-90% of its revenues from repeat customers. The average vintage of its top 10 and top 5 client relationships exceeds five years, indicating healthy client retention. The company’s client retention is supported by its integrated service delivery model, domain expertise, and the embedded nature of offerings across multiple workflows. The company’s [Showing first 8,000 characters — download PDF for full document]