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The firm plans to raise Rs 602 crore via fresh issue and an offer for sale of up to 12.18 million shares from its promoters and existing shareholders.

Established in 2018 by Prabhat Agrawal and Prem Sethi, Entero Healthcare claims a spot among the top three healthcare products distributors in India, based on its FY22 revenue.

The IPO comprises a fresh issuance of shares valued at Rs 1,200 crore and an offer-for-sale of 1.35 crore shares.

The price range for this offering, which will conclude on September 18, is set at Rs 156-164 per share.

August 2023 marked the fifth consecutive month that the WPI inflation has been in the negative.

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The company's shares are listed on the BSE since September 24, 1952 and on the NSE since December 14, 2000.

The group has made the decision to sell the land lot in order to pay off its Rs 3,969 crore debt. Over the past year, it has already repaid debt of Rs 900 crore.

Ahead of the issue opening, the company raised Rs 616.5 crore from anchor investors.

The company has fixed a price band of 156-164 per share, where investors can bid for 90 equity shares in one lot, and its multiples thereof.