Entero Healthcare Solutions IPO Price: ₹1195 to ₹1258
IPO Date Range: Feb 9, 2024 - Feb 13, 2024
Established in 2018 by Prabhat Agrawal and Prem Sethi, Entero Healthcare Solutions Limited seeks to develop a technology-driven healthcare product distribution platform in India. The company's vision involves integrating the healthcare ecosystem and providing manufacturers with broad access to pharmacies, hospitals, and clinics through its organized and pan-India distribution platform.
As of March 31, 2023, Entero operates through 73 warehouses spanning 37 cities in 19 states and union territories. This extensive infrastructure facilitates last-mile delivery and supports relationships with over 1,900 healthcare product manufacturers, providing access to an impressive portfolio of more than 64,500 product stock-keeping units.
The company serves a diverse clientele, including over 81,400 pharmacies and 3,400 hospitals across 495 districts, ensuring widespread accessibility for both manufacturers and end-users.
During the fiscal years 2021, 2022, and 2023, Entero demonstrated substantial growth, catering to increasing numbers of retail and hospital customers. The company served over 81,400 pharmacies and 3,400 hospitals, with customer numbers reaching 39,500, 64,200, and 81,400 retail customers during the respective years. Entero's robust supply relationships, coupled with its efficient distribution infrastructure, position the company as a key player in the healthcare product distribution sector in India.
| IPO Date | February 9, 2024 to February 13, 2024 |
| Listing Date | Friday, 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 | 16,066,886 |
| Share holding post issue | 24,016,011 |
Investors have the option to bid for a minimum of 11 shares, with the opportunity to increase their bids in multiples of 11. The table below outlines the minimum and maximum investment limits for retail investors and high-net-worth individuals (HNI) in both shares and corresponding amounts.
| 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 |
| QIB Shares Offered | Not more than 75% of the Net Issue |
| Retail Shares Offered | Not less than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| 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 |
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Entero Healthcare Solutions Limited experienced a notable growth in its financial performance, with a 30.84% increase in revenue and a substantial 62.28% rise in profit after tax (PAT) between the fiscal years ending on March 31, 2023, and March 31, 2022.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 Sep 2023 |
|---|---|---|---|---|
| Assets | 833.79 | 1125.98 | 1308.73 | 1505.95 |
| Revenue | 1783.67 | 2526.55 | 3305.72 | 1898.98 |
| Profit After Tax | -15.35 | -29.44 | -11.10 | 11.64 |
| Net Worth | 487.06 | 563.22 | 597.66 | 660.54 |
| Total Borrowing | 141.70 | 285.03 | 373.52 | 488.68 |
| KPI | Values |
|---|---|
| Market Cap | Rs 3021.21 Cr |
| ROE | -2.66% |
| ROCE | 6.06% |
| Debt/ Equity | 0.45 |
| RoNW | -1.86% |
The company intends to allocate the Net Proceeds from the Fresh Issue for the following purposes:
Prospectus: Official documents that provide detailed information about the IPO and the company. Entero Healthcare Solutions DRHP and Entero Healthcare Solutions RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Entero Healthcare Solutions Limited" IPO is ₹1195 to ₹1258 per share.
The "Entero Healthcare Solutions Limited" IPO is expected to be listed on Friday, 16 February 2024.
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