Entero Healthcare Solutions, based in India, distributes healthcare products and provides services to pharmacies, hospitals, and clinics nationwide.
Entero Healthcare Solutions’ IPO is scheduled to run from Feb 9 to Feb 13, with a price band set at Rs 1,195-1,258 per share. The total IPO issue size is Rs 1,600 crore, with Rs 1,000 crore allocated for the fresh share sale.
The Entero Healthcare Solutions IPO is set to open on February 9, 2023, with shares priced between Rs 1,195 and Rs 1,258 each. Interested investors can bid for a minimum of 11 equity shares and in multiples thereafter. The bidding period will close on February 13, 2023.
Entero Healthcare Solutions, established in 2018, operates as a healthcare product distributor in India. Utilizing a technology-driven platform, the company provides distribution services to pharmacies, hospitals, and clinics across the country. The upcoming IPO of Entero Healthcare Solutions will involve a fresh share sale of Rs 1,000 crore. Additionally, the promoters – Orbimed Asia III Mauritius, Prabhat Agrawal, and Prem Sethi – along with other shareholders, plan to offer up to 47,69,475 equity shares in an offer-for-sale (OFS), amounting to Rs 600 crore at the upper end of the price band.
Entero Healthcare Solutions has set aside shares worth Rs 8 crore for eligible employees, with an exclusive discount of Rs 119 per share during the bidding process. The company, in collaboration with its Book Running Lead Managers (BRLMs), is offering this reservation for its workforce. Additionally, the anchor book for the IPO is scheduled to open on Thursday, February 8, 2023.
The net proceeds from the fresh issue in Entero Healthcare Solutions’ IPO will be allocated for specific purposes. These include the full or partial repayment of certain borrowings obtained by the company and its subsidiaries. Additionally, the funds will be utilized to support long-term working capital needs and to pursue inorganic growth initiatives, primarily through acquisitions.
Entero Healthcare Solutions boasts strong relationships with 1,900 healthcare product manufacturers, providing access to an extensive portfolio of over 64,500 product stock-keeping units as of March 31, 2023. The company has established a robust infrastructure with 73 warehouses strategically located in 37 cities across 19 states and union territories.
Serving a widespread customer base, Entero reaches over 81,400 pharmacies and 3,400 hospitals in 495 districts, highlighting its significant presence in the healthcare product distribution network.
Entero Healthcare Solutions has allocated 75% of the net issue to qualified institutional bidders, 15% to non-institutional investors (NIIs), and the remaining 10% for retail investors in its IPO.
ICICI Securities, DAM Capital Advisors (IDFC Securities), Jefferies India, JM Financial, and SBI Capital Markets are the Book Running Lead Managers (BRLMs) for the Entero Healthcare Solutions IPO. Link Intime India is appointed as the registrar for the issue. The anticipated listing date for the company’s shares is February 16, on both BSE and NSE.
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