Entero Healthcare Solutions IPO is a book built issue of Rs 1,600.00 crores. The issue is a combination of fresh issue of 0.79 crore shares aggregating to Rs 1,000.00 crores and offer for sale of 0.48 crore shares aggregating to Rs 600.00 crores.
Entero Healthcare Solutions IPO opens for subscription on February 9, 2024 and closes on February 13, 2024. The allotment for the Entero Healthcare Solutions IPO is expected to be finalized on Wednesday, February 14, 2024. Entero Healthcare Solutions IPO will list on BSE, NSE with tentative listing date fixed as Friday, February 16, 2024.
Entero Healthcare Solutions IPO price band is set at ₹1195 to ₹1258 per share. The minimum lot size for an application is 11 Shares. The minimum amount of investment required by retail investors is ₹13,838. The minimum lot size investment for sNII is 15 lots (165 shares), amounting to ₹207,570, and for bNII, it is 73 lots (803 shares), amounting to ₹1,010,174.
ICICI Securities Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), Jefferies India Private Limited, Jm Financial Limited and SBI Capital Markets Limited are the book running lead managers of the Entero Healthcare Solutions IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Entero Healthcare Solutions IPO DRHP for detailed information.
Entero Healthcare Solutions IPO Details
| IPO Date | February 9, 2024 to February 13, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹1195 to ₹1258 per share |
| Lot Size | 11 Shares |
| Total Issue Size | 12,718,600 shares (aggregating up to ₹1,600.00 Cr) |
| Fresh Issue | 7,949,125 shares (aggregating up to ₹1,000.00 Cr) |
| Offer for Sale | 4,769,475 shares of ₹10 (aggregating up to ₹600.00 Cr) |
| Employee Discount | Rs 119 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 16,066,886 |
| Share holding post issue | 24,016,011 |
Entero Healthcare Solutions IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
Entero Healthcare Solutions IPO Timeline (Tentative Schedule)
Entero Healthcare Solutions IPO opens on February 9, 2024, and closes on February 13, 2024.
| IPO Open Date | Friday, February 9, 2024 |
| IPO Close Date | Tuesday, February 13, 2024 |
| Basis of Allotment | Wednesday, February 14, 2024 |
| Initiation of Refunds | Thursday, February 15, 2024 |
| Credit of Shares to Demat | Thursday, February 15, 2024 |
| Listing Date | Friday, February 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 13, 2024 |
Entero Healthcare Solutions IPO Lot Size
Investors can bid for a minimum of 11 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 11 | ₹13,838 |
| Retail (Max) | 14 | 154 | ₹193,732 |
| S-HNI (Min) | 15 | 165 | ₹207,570 |
| S-HNI (Max) | 72 | 792 | ₹996,336 |
| B-HNI (Min) | 73 | 803 | ₹1,010,174 |
| Lot Size Calculator | |||
Entero Healthcare Solutions IPO Promoter Holding
The promoters of the company are Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Limited.
| Share Holding Pre Issue | 76.54% |
| Share Holding Post Issue |
About Entero Healthcare Solutions Limited
Incorporated in 2018, Entero Healthcare Solutions Limited is a distributor of healthcare products in India. The company’s technology-driven platform provides healthcare product distribution services to pharmacies, hospitals, and clinics throughout India.
During the fiscal years 2021, 2022, and 2023, the company served over 39,500, 64,200, and 81,400 retail customers, respectively. Additionally, they also served over 1,600, 2,500, and 3,400 hospital customers during the same period.
Entero Healthcare Solutions has relationships with over 1,900 healthcare product manufacturers, giving them access to over 64,500 product stock-keeping units as of March 31, 2023.
The company has 73 warehouses in 37 cities across 19 states and union territories, and its customer base includes over 81,400 pharmacies and 3,400 hospitals in 495 districts as of March 31, 2023. This provides excellent access to healthcare product manufacturers.
As of 31st March, 2023, the company employs a total of 3014 people in various departments.
Entero Healthcare Solutions Limited Financial Information (Restated Consolidated)
Entero Healthcare Solutions Limited’s revenue increased by 30.84% and profit after tax (PAT) rose by 62.28% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,308.73 | 1,125.98 | 833.79 |
| Revenue | 3,305.72 | 2,526.55 | 1,783.67 |
| Profit After Tax | -11.10 | -29.44 | -15.35 |
| Net Worth | 597.66 | 563.22 | 487.06 |
| Total Borrowing | 373.52 | 285.03 | 141.70 |
| Amount in ₹ Crore | |||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | -2.66% |
| ROCE | 6.06% |
| Debt/Equity | 0.45 |
| RoNW | -1.86% |
Check Entero Healthcare Solutions IPO Peer Comparison here.
Objects of the Issue (Entero Healthcare Solutions IPO Objectives)
The Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Repayment/prepayment, in full or part, of certain borrowings availed of by the company and our Subsidiaries.
- Funding the long term working capital requirements.
- Pursuing inorganic growth initiatives through acquisitions.
- General corporate purposes.
Entero Healthcare Solutions Limited Contact Details
Entero Healthcare Solutions Limited
Plot No. I-35, Building – B
Industrial Area Phase – I
13/7 Mathura Road, Faridabad 121 003
Phone: +91 22-69019100
Email: jayant.prakash@enterohealthcare.com
Website: https://www.enterohealthcare.com/
Entero Healthcare Solutions IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: enterohealthcare.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html