05-Feb-2024
2 mins read
Entero Healthcare Solutions Limited IPO 2024 is open for subscription from Friday, February 9, 2024 and will close on Tuesday, February 13, 2024. The price band for this IPO is decided at Rs 1195 to Rs 1258 per share. The minimum lot size of this application for the retail category has 11 shares. The minimum lot size for small non-institutional investors is 15 lots consisting of 165 shares. Whereas, the minimum lot for big non-institutional investors is 73 lots consisting of 803 shares. The minimum amount of investment required for retail category investors is Rs 13,838 (1258x 11 shares). However, for small non-institutional investors the minimum investment amount is required Rs 2,07,570 ( 1258 x 165 shares) and for big non-institutional investors is Rs 10,10,174 (1258 x 803 shares).
Entero Healthcare Solutions Limited IPO 2024 is a book-built issue of Rs 1600 crores. The issue is a combination of the fresh issue and offer for sale. The fresh issue consists of 0.79 crore shares amounting to Rs 1000.00 crores. The offer for sale is of 0.48 crore shares amounting to Rs 600 crore. The book running lead manager of Entero Healthcare Solutions Limited is ICICI Securities Limited, Dam Capital Advisors Limited, Jefferies India Private Limited, JM Financials Limited and SBI Capital Markets Limited. The registrar for this IPO is Link Intime India Private Limited.
About the Entero Healthcare Limited
Entero Healthcare Solutions Limited incorporated in 2018 with a vision to create an organized pan India technology driven and integrated product distribution network platform. It is a distributor of healthcare products in India. Company’s technology driven platform provides healthcare product distribution services to pharmacies, hospitals and clinics throughout India. Company is among the top three healthcare distributors in terms of revenue generated in FY22. Entero Healthcare had a wide operational presence across India through warehouses. Company had a relationship with over 1900 healthcare product manufacturers, giving them access to over 64500 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 include over 81400 pharmacies and 3400 hospitals.
Objectives of this IPO
The net proceeds from the issue will be utilized for repayment and prepayment of the certain borrowing availed by the company. Furthermore, the funds will be also used to fund the long term working capital requirements. Also to pursue inorganic growth initiatives through acquisitions. The general corporate purposes will also be fulfilled.
Financial Performance of Entero Healthcare Solutions Limited
Company’s revenue increased by 30.84% and profit after tax increased by 62.28% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 1,308.73 | 1,125.98 | 833.79 |
| Revenue | 3,305.72 | 2,526.55 | 1,783.67 |
| Profit After Tax | -11.1 | -29.44 | -15.35 |
| Net Worth | 597.66 | 563.22 | 487.06 |
| Total Borrowing | 373.52 | 285.03 | 141.7 |
| Amt in crore |
Other Important Details of Entero Healthcare Solutions Limited IPO
| IPO Date | February 9, 2024 to February 13, 2024 |
| Listing Date | 16-Feb-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 1195 to Rs 1258 per share |
| Lot Size | 11 Shares |
| Total Issue Size | 12,718,600 shares (amounting to Rs 1,600.00 Crore) |
| Fresh Issue | 7,949,125 shares (amounting to Rs 1,000.00 Crore) |
| Offer for Sale | 4,769,475 shares of Rs 10 (amounting to Rs 600.00 Cr) |
| Employee Discount | Rs 119 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 16,066,886 |
| Shareholding post issue | 24,016,011 |
IPO Reservation of Entero Healthcare Solutions Limited
| 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 |
Promoters of Entero Healthcare Solutions Limited and Their Holdings
The Promoters of the company are Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Limited.
| Shareholding Pre Issue | 76.54% |
| Shareholding Post Issue |
Time-Table of Entero Healthcare Solutions Limited IPO 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 Limited IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 11 | Rs 13,838 |
| Retail (Max) | 14 | 154 | Rs 193,732 |
| S-HNI (Min) | 15 | 165 | Rs 207,570 |
| S-HNI (Max) | 72 | 792 | Rs 996,336 |
| B-HNI (Min) | 73 | 803 | Rs 1,010,174 |
Key Performance Indicator of Entero Healthcare Solutions Limited IPO 2024
| KPI | Values |
| ROE | -2.66% |
| ROCE | 6.06% |
| Debt/Equity | 0.45 |
| RoNW | -1.86% |
Lead Manager(s) of Entero Healthcare Solutions Limited IPO 2024
The lead manager for Entero Healthcare Solutions Limited IPO is ICICI Securities Limited, Dam Capital Advisors Limited, Jefferies India Private Limited, JM Financials Limited and SBI Capital Markets Limited.
How to Apply for Entero Healthcare Solutions Limited IPO 2024
Wait for the public issue to open for subscription, then click on this link to apply for the Entero Healthcare Solutions Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check Allotment Status of Entero Healthcare Solutions Limited IPO 2024
The registrar for Entero Healthcare Solutions Limited IPO is Link Intime India Private Limited. To check your allotment status, please click on this link below https://linkintime.co.in/Initial_Offer/public-issues.html
FAQs
- What is Entero Healthcare Solutions Limited IPO 2024?
Entero Healthcare Solutions Limited IPO 2024 is a book-built issue of Rs 1600 crores. The issue is a combination of the fresh issue and offer for sale. The price band for this IPO is decided at Rs 1195 to Rs 1258 per share.
- Who are the lead managers for the Entero Healthcare Solutions Limited IPO 2024?
ICICI Securities Limited, Dam Capital Advisors Limited, Jefferies India Private Limited, JM Financials Limited and SBI Capital Markets Limited are appointed as the lead managers for the IPO.
- What is the role of Link Intime India Private Limited in this IPO?
Link Intime India Private Limited is the registrar for Entero Healthcare Solutions Limited handling the IPO’s administrative aspects.
- How can I apply for the Entero Healthcare Solutions Limited IPO 2024?
The public subscription will open from February 9, 2024. Visit Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The net proceeds from the issue will be utilized for repayment and prepayment of the certain borrowing availed by the company. Furthermore, the funds will be also used to fund the long term working capital requirements.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Entero Healthcare Solutions Limited IPO 2024 by https://linkintime.co.in/Initial_Offer/public-issues.html
- What is the financial performance of Entero Healthcare Solutions Limited?
Company’s revenue increased by 30.84% and profit after tax increased by 62.28% between the financial year ending with March 31, 2023 and March 31, 2022.
