Entero IPO Kicks Off Today: Aims for ₹1,600 Crore, Check Live Subscription Here

9 Feb 2024 , 12:09 PM

The initial public offering (IPO) of Entero Healthcare Solutions Limited commenced today, with the subscription period open until February 13, 2024. The company, a distributor of healthcare products, has set the Entero Healthcare Solutions IPO price band at ₹1195 to ₹1258 per equity share. The book build issue aims to raise ₹1600 crore, of which ₹1000 crore will be through the issuance of fresh shares. Click here to subscribe the IPO.

As of now, the response to the IPO has been subdued, with a subscription rate of only 4%. The retail portion of the IPO has seen a subscription of 21%, while the High Net Worth Individual (HNI) portion has received bids for 1% of the allocated shares. Additionally, a portion reserved for employees has been subscribed to 16%.

The IPO consists of a fresh equity issue of ₹1,000 crore and an offer for sale (OFS) of up to 47.69 lakh shares. Key stakeholders participating in the OFS include Prabhat Agrawal, Prem Sethi, Orbimed Asia III Mauritius, Chethan MP, and Deepesh T Gala, among others.

Entero Healthcare Solutions intends to utilize the proceeds from the IPO for various purposes, including repayment of debt, meeting long-term working capital requirements, funding subsidiaries, pursuing inorganic growth initiatives through acquisitions, and general corporate purposes.