Entero Healthcare IPO Opens: Bidding till Feb 13, Price Band ₹1195-₹1258

9 Feb 2024 , 03:42 PM

Entero Healthcare Solutions Limited’s IPO opens today, with bidding available until February 13, 2024. The IPO price band is set at ₹1195 to ₹1258 per equity share for the healthcare products distributor company. Each lot of the book build issue comprises 11 company shares, and the IPO is proposed for listing on both BSE and NSE. Click here to subscribe the IPO

At the time of writing on day one of bidding, the book build issue is subscribed 0.08 times, with the retail portion booked 0.36 times.

The employees’ portion of the public issue is subscribed 0.29 times, while the non-institutional investor’s portion is booked 0.03 times.

Entero Healthcare Solutions, a healthcare products distributor, successfully raised Rs 716.4 crore through its anchor book on February 8, a day before the opening of its IPO.

The company plans to allocate Rs 142.5 crore of the net proceeds from the fresh issue towards debt repayment and allocate Rs 480 crore for long-term working capital requirements. The remaining funds will be utilized for inorganic growth initiatives through acquisitions and general corporate purposes.

Founded by Prabhat Agrawal and Prem Sethi, Entero Healthcare Solutions has established a pan-India, technology-driven distribution platform for healthcare products. With 77 warehouses across the country, the company serves various customers in the pharmacies, hospitals, and clinics segments, offering integrated solutions.

The book build issue aims to raise ₹1600 Crore, with ₹1000 Crore through the issuance of fresh shares.

 

For feedback and suggestions, write to us at [e-mail]