Entero Healthcare Solutions Limited IPO Detail
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.
Company Promoters
Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Limited.IPO Details
| IPO Opening Date | Feb 09, 2024 |
| IPO Closing Date | Feb 13, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹1195 - 1258 per equity share |
| Market Lot | 11 Shares |
| Min Order Quantity | 11 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹1,600.00 Cr |
| Fresh Issue | ₹1,000.00 Cr |
| Offer for Sale | ₹600.00 Cr |
| Employee Discount | ₹₹119 |
| Retail Portion | 10% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | - | - | 0.00x | 0.00x | 0.00x |
| Day 2 | 0.00x | - | - | 0.09x | 0.61x | 0.18x |
| Day 3 | 2.29x | - | - | 0.22x | 0.92x | 1.43x |
IPO Tentative Timetable
The Entero Healthcare Solutions Limited IPO open date is Feb 09, 2024, and the close date is Feb 13, 2024. The issue may list on Feb 16, 2024.
| IPO Open Date | Feb 09, 2024 |
| IPO Close Date | Feb 13, 2024 |
| Basis of Allotment Date | Feb 14, 2024 |
| Initiation of Refunds | Feb 15, 2024 |
| Credit of Shares to Demat Account | Feb 15, 2024 |
| IPO Listing Date | Feb 16, 2024 |
IPO Lot Size
The Entero Healthcare Solutions Limited IPO market lot size is 11 shares. A retail-individual investor can apply for up to 13 lots (143 shares or ₹179894).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 11 | ₹13838 |
| Maximum | 13 | 143 | ₹179894 |
IPO Promoter Holding
| Pre Issue Share Holding | 76.54% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Cr.)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 833.79 | 1783.67 | -15.35 |
| 31-Mar-22 | 1125.98 | 2526.55 | -29.44 |
| 31-Mar-23 | 1308.73 | 3305.72 | -11.10 |
Objects of the Issue:
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 IPO Registrar:
Link Intime India Private Ltd
Entero Healthcare Solutions Limited IPO Lead Manager(s):
ICICI Securities Limited Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) Jefferies India Private Limited Jm Financial Limited SBI Capital Markets Limited
Company Contact Information:
Entero Healthcare Solutions Limited
Plot No. I-35, Building - B
Industrial Area Phase - I
13/7 Mathura Road, Faridabad 121 003
