Entero Healthcare Solutions IPO will open for subscription from 09 February 2024. The company aims for an issue size of ₹1,600 Cr through this IPO.
Company Overview
| Full name | Entero Healthcare Solutions Limited |
| Sector | Trading |
| Industry | Trading |
| Company Website | https://www.enterohealthcare.com/ |
About Company
Founded in 2018, Entero Healthcare Solutions distributes healthcare products in India. Leveraging a technology-driven platform, the company offers healthcare product distribution services to pharmacies, hospitals, and clinics nationwide. In the fiscal years 2021, 2022, and 2023, Entero Healthcare Solutions served 39,500, 64,200, and 81,400 retail customers, respectively. Additionally, it engaged with 1,600, 2,500, and 3,400 hospital customers during the same period. As of 31 March 2023, the company has supply relationships with 1,900 healthcare product manufacturers, offering access to over 64,500 product stock-keeping units (SKUs).
As of 31 March 2023, Entero Healthcare Solutions operates 73 distribution warehouses in 37 cities across 19 states and union territories. With a customer base spanning 81,400 pharmacies and 3,400 hospitals in 495 districts, the company offers extensive access to healthcare product manufacturers. As of 31 March 2023, Entero Healthcare Solutions has a workforce of 3,014 individuals spread across various departments.
The Objectives of the Issue
- Repayment/prepayment, in full or part, of certain borrowings availed of by the company and its Subsidiaries.
- Funding the long-term working capital requirements.
- Pursuing inorganic growth initiatives through acquisitions.
- General corporate purposes.
Entero Healthcare Solutions IPO Timetable
| IPO Opening date | 09 February 2024 |
| IPO Closing | 13 February 2024 |
| Basis of Allotment | 14 February 2024 |
| Initiation Refund | 15 February 2024 |
| Credit to Demat Account | 15 February 2024 |
| Listing Date | 16 February 2024 |
Entero Healthcare Solutions IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹1,600 Cr – 12,718,600 shares |
| Fresh Issue | ₹1,000 Cr – 7,949,125 shares |
| Offer for sale | ₹600 Cr – 4,769,475 shares |
| Face value | ₹10 per share |
| Price Band | ₹1195 to ₹1258 per share |
| Lot size | 11 Shares |
| Employee Discount | ₹119 per share |
| Shareholding pre-issue | 39,577,705 |
| Shareholding post-issue | 47,526,830 |
| Listing Exchange | BSE & NSE |
Entero Healthcare Solutions IPO Lot Size
| 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 |
Entero Healthcare Solutions IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 5,694,753 (42.63%) |
| QIB Shares Offered | 3,796,502 (28.42%) |
| NII (HNI) Shares Offered | 1,898,251 (14.21%) |
| bNII > ₹10L | 1,265,501 (9.47%) |
| sNII < ₹10L | 632,750 (4.74%) |
| Retail Shares Offered | 1,898,251 (14.21%) |
| Employee Shares Offered | 70,625 (0.53%) |
| Total Shares Offered | 13,358,382 (100%) |
Entero Healthcare Solutions Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 1,779.74 | 2,522.07 | 3,300.21 | 1,895.50 |
| Expenses | 1,794.51 | 2,546.36 | 3,309.41 | 1,858.31 |
| Net income | (15.35) | (29.44) | (11.10) | 11.64 |
| Margin (%) | (0.86) | (1.17) | (0.34) | 0.61 |
Entero Healthcare Solutions Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | (5.29) | (9.22) | (3.10) |
| PE ratio | – | – | – |
| RONW (%) | (3.15) | (5.23) | (1.86) |
| NAV | 165.17 | 155.42 | 157.08 |
| ROCE (%) | 1.88 | 1.49 | 6.05 |
| EBITDA (%) | 1.21 | 0.97 | 1.94 |
| Debt/Equity | – | 0.70 | 0.88 |
Company Promoters
- Prabhat Agrawal
- Prem Sethi
- OrbiMed Asia III Mauritius Limited
Promoter Holding
| Pre Issue Share Holding | 77.11% |
| Post Issue Share Holding |
Entero Healthcare Solutions 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
Entero Healthcare Solutions Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: enterohealthcare.ipo@linkintime.co.in
Website: www.linkintime.co.in
Entero Healthcare Solutions Contact Details
ENTERO HEALTHCARE SOLUTIONS LIMITED
605 & 606, 6th Floor, Trade Centre Bandra Kurla Complex,
Bandra East, Mumbai 400 051 Maharashtra, India
Phone: +91 22 69019100
Email: jayant.prakash@enterohealthcare.com
Website: www.enterohealthcare.com
Entero Healthcare Solutions IPO Allotment Status
Entero Healthcare IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Final thoughts
Entero Healthcare Solutions IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
