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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 bidding started from February 9, 2024 and ended on February 13, 2024. The allotment for Entero Healthcare Solutions IPO was finalized on Wednesday, February 14, 2024. The shares got listed on BSE, NSE on 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.
The issue includes a reservation of up to 74,349 shares for employees offered at a discount of Rs 119 to the issue price.
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 RHP for detailed information.
| IPO Date | February 9, 2024 to February 13, 2024 |
| Listing Date | February 16, 2024 |
| 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 | 39,577,705 |
| Share holding post issue | 47,526,830 |
Entero Healthcare Solutions IPO offers 12,844,853 shares. 3,808,069 (29.65%) to QIB, 1,960,609 (15.26%) to NII, 1,307,073 (10.18%) to RII, 74,349 (0.58%) to employees and 5,694,753 (44.33%) to Anchor investors. 118,824 RIIs will receive minimum 11 shares and 3,960 (sNII) and 7,921 (bNII) will receive minimum 165 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 5,694,753 (44.33%) | NA |
| QIB Shares Offered | 3,808,069 (29.65%) | NA |
| NII (HNI) Shares Offered | 1,960,609 (15.26%) | |
| bNII > ₹10L | 1,307,072 (10.18%) | 7,921 |
| sNII < ₹10L | 653,537 (5.09%) | 3,960 |
| Retail Shares Offered | 1,307,073 (10.18%) | 118,824 |
| Employee Shares Offered | 74,349 (0.58%) | NA |
| Total Shares Offered | 12,844,853 (100%) |
Entero Healthcare Solutions IPO raises Rs 716.40 crore from anchor investors. Entero Healthcare Solutions IPO Anchor bid date is February 8, 2024. Entero Healthcare Solutions IPO Anchor Investors list
| Bid Date | February 8, 2024 |
| Shares Offered | 5,694,753 |
| Anchor Portion Size (In Cr.) | 716.40 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 15, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 14, 2024 |
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 |
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 | |||
The promoters of the company are Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Limited.
| Share Holding Pre Issue | 77.11% |
| Share Holding Post Issue |
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'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 | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,505.95 | 1,308.73 | 1,125.98 | 833.79 |
| Revenue | 1,898.98 | 3,305.72 | 2,526.55 | 1,783.67 |
| Profit After Tax | 11.64 | -11.10 | -29.44 | -15.35 |
| Net Worth | 660.54 | 597.66 | 563.22 | 487.06 |
| Total Borrowing | 488.68 | 373.52 | 285.03 | 141.70 |
| Amount in ₹ Crore | ||||
The market capitalization of Entero Healthcare Solutions IPO is Rs 3021.21 Cr.
| KPI | Values |
|---|---|
| ROE | -2.66% |
| ROCE | 6.06% |
| Debt/Equity | 0.45 |
| RoNW | -1.86% |
| P/BV | 7.22 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 0 | 9.7 |
| P/E (x) | 0 | 129.75 |
The Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
[Dilip Davda] The company is one of the leading and fastest growing healthcare product distributor in India. EHSL marked losses for FY21 to FY23 and turned the corner for H1 of FY24. Based on annualized FY24 earnings, the issue appears aggressively priced, discounting all near term positives. Well-informed/risk seeker/cash surplus investors may park funds for the long term reward as it holds prospects going forward. Read detail review...
The Entero Healthcare Solutions IPO is subscribed 1.53 times on February 13, 2024 6:20:00 PM. The public issue subscribed 1.33 times in the retail category, 2.28 times in the QIB category, and 0.22 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 2.28 |
| NII | 0.22 |
| bNII (bids above ₹10L) | 0.16 |
| sNII (bids below ₹10L) | 0.33 |
| Retail | 1.33 |
| Employee | 1.25 |
| Total | 1.53 |
Total Application : 129,800 (1.13 times)
| Listing Date | February 16, 2024 |
| BSE Script Code | 544122 |
| NSE Symbol | ENTERO |
| ISIN | INE010601016 |
| Final Issue Price | ₹1258 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹1,258.00 |
| ₹1,245.00 |
| ₹1,141.80 |
| ₹1,258.00 |
| ₹1,149.50 |
| NSE |
|---|
| ₹1,258.00 |
| ₹1,228.70 |
| ₹1,141.00 |
| ₹1,258.00 |
| ₹1,149.55 |
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/
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
Entero Healthcare Solutions IPO is a main-board IPO of 12,718,600 equity shares of the face value of ₹10 aggregating up to ₹1,600.00 Crores. The issue is priced at ₹1195 to ₹1258 per share. The minimum order quantity is 11 Shares.
The IPO opens on February 9, 2024, and closes on February 13, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Entero Healthcare Solutions IPO using UPI as a payment gateway. Zerodha customers can apply in Entero Healthcare Solutions IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Entero Healthcare Solutions IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Entero Healthcare Solutions IPO opens on February 9, 2024 and closes on February 13, 2024.
Entero Healthcare Solutions IPO lot size is 11 Shares, and the minimum amount required is ₹13,838.
You can apply in Entero Healthcare Solutions IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Entero Healthcare Solutions IPO will be done on Wednesday, February 14, 2024, and the allotted shares will be credited to your demat account by Thursday, February 15, 2024. Check the Entero Healthcare Solutions IPO allotment status.
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