BILKULONLINE
Ahmedabad, Feb 8: Entero Healthcare Solutions’ IPO will open for subscription on February 9, 2024 and closes on February 13, 2024. Its IPO price band is set at ₹1195 to ₹1258 per share of the face value of ₹10.
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.
Thus, the total IPO of Entero Healthcare Solutions Ltd will comprise of a fresh issue and an OFS of 1,27,18,600 shares (127.19 lakh shares approximately) which at the upper end of the price band of ₹1,258 per share aggregates to total issue size of ₹1,600 crore.
The promoters of the company are Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Limited. As per the terms of the offer, not less than 75% of the net offer is reserved for the qualified institutional buyers (QIBs), while not more than 10% of the net offer size is reserved for the retail investors. The residual 15% is kept aside for the HNI / NII investors. The table below captures the gist of the allocation to various categories.
The IPO of Entero Healthcare Solutions Ltd will be listed on the NSE and the BSE on the IPO mainboard.
Entero Healthcare Solutions IPO Lead Managers aka Merchant Bankers
- ICICI Securities Limited
- Dam Capital Advisors Ltd
- Jefferies India Private Limited
- Jm Financial Limited
- SBI Capital Markets Limited
Entero Healthcare Solutions is amongst the top three healthcare products distributors in India in terms of revenue in Financial Year 2022, and reported an operating income of ₹25,220.65 million in Financial Year 2022 (Source: CRISIL Report). Further, they also achieved the fastest scale-up of operations among healthcare products distributors in India (between Financial Year 2019 to Financial Year 2022), and reached ₹25,000 million of operating income within four years of operations (Source: CRISIL Report).
The Company was founded in 2018 by Prabhat Agrawal, their Promoter, Managing Director, and Chief Executive Officer, and Prem Sethi, their Promoter, Whole-time Director, and Chief Operating Officer, with the vision to create an organized, pan-India, technology-driven, and integrated healthcare products distribution platform that can add value to the entire healthcare ecosystem.
Objects of the Issue
- 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.
Sujesh Vasudevan is the Chairperson of the group while Prabhat Agarwal is the Managing Director, CEO and co-founder of the group. Other members of the board of directors include Prem Sethi, Rajesh S Dalal, Sandhya Gadkari Sharma, Arun Sadhanandam, Sumona Chakraborty and Vipul Desai. C V Ram is the CFO of the company.