Bookbuilding IPO | ₹1,600 Cr | Listed at BSE, NSE | Fri, Feb 9, 2024 - Tue, Feb 13, 2024
Entero Healthcare Solutions IPO is a book build issue of ₹1,600.00 crores. The issue is a combination of fresh issue of 0.80 crore shares aggregating to ₹1,000.31 crores and offer for sale of 0.48 crore shares aggregating to ₹599.69 crores.
Entero Healthcare Solutions IPO bidding started from Feb 9, 2024 and ended on Feb 13, 2024. The allotment for Entero Healthcare Solutions IPO was finalized on Feb 14, 2024. The shares got listed on BSE, NSE on Feb 16, 2024.
Entero Healthcare Solutions IPO price band is set at ₹1,258 per share. The lot size for an application is 11. The minimum amount of investment required by an retail is ₹13,838 (11 shares) (based on upper price). The lot size investment for sNII is 15 lots (165 shares), amounting to ₹2,07,570, and for bNII, it is 73 lots (803 shares), amounting to ₹10,10,174.
The issue includes a reservation of up to 70,237 shares for employees offered at a discount of ₹119.00 to the issue price.
ICICI Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Entero Healthcare Solutions IPO RHP for detailed Information.
IPO Open
Fri, Feb 9, 2024
IPO Close
Tue, Feb 13, 2024
Issue Price
₹1258 per share
Market Cap (Pre-IPO)
₹3,021.21 Cr
| IPO Date | 9 to 13 Feb, 2024 |
| Listed on | Fri, Feb 16, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹1195 to ₹1258 |
| Issue Price | ₹1258 per share |
| Lot Size | 11 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹119.00 |
| Total Issue Size | 1,27,20,044 shares (agg. up to ₹1,600 Cr) |
| Fresh Issue | 79,52,518 shares (agg. up to ₹1,000 Cr) |
| Offer for Sale | 47,67,526 shares of ₹10 (agg. up to ₹600 Cr) |
| Share Holding Pre Issue | 3,95,77,705 shares |
| Share Holding Post Issue | 4,75,26,830 shares |
| BSE Script Code / NSE Symbol | 544122 / ENTERO |
| ISIN | INE010601016 |
Entero Healthcare Solutions IPO offers total 1,27,25,244 shares. Out of which 94,91,256 (74.59%) allocated to QIB, 37,96,503 (29.83%) allocated to QIB (Ex- Anchor), 18,98,251 (14.92%) allocated to NII 12,65,500 (9.94%) allocated to RII and 56,94,753 (44.75%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 94,91,256 (74.59%) | NA |
| − Anchor Investor Shares Offered | 56,94,753 (44.75%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 37,96,503 (29.83%) | NA |
| NII (HNI) Shares Offered | 18,98,251 (14.92%) | NA |
| − bNII > ₹10L | 12,65,500 (9.94%) | 7,669 |
| − sNII < ₹10L | 6,32,751 (4.97%) | 3,834 |
| Retail Shares Offered | 12,65,500 (9.94%) | 1,15,045 |
| Employee Shares Offered | 70,237 (0.55%) | NA |
| Total Shares Offered | 1,27,25,244 (100.00%) |
Investors can bid for a minimum of 11 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 11 | ₹13,838 |
| Retail (Max) | 14 | 154 | ₹1,93,732 |
| S-HNI (Min) | 15 | 165 | ₹2,07,570 |
| S-HNI (Max) | 72 | 792 | ₹9,96,336 |
| B-HNI (Min) | 73 | 803 | ₹10,10,174 |
Entero Healthcare Solutions IPO raises ₹716.40 crore from anchor investors. Entero Healthcare Solutions IPO Anchor bid date is February 8, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Feb 8, 2024 |
| Shares Offered | 56,94,753 |
| Anchor Portion (₹ Cr.) | 716.40 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Mar 15, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, May 14, 2024 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 2018, Entero Healthcare Solutions Limited is a distributor of healthcare products in India. The company's technology-driven platform provides healthcare product distribution services to pharmacies, hospitals, and clinics throughout India.
During the fiscal years 2021, 2022, and 2023, the company served over 39,500, 64,200, and 81,400 retail customers, respectively. Additionally, they also served over 1,600, 2,500, and 3,400 hospital customers during the same period.
Entero Healthcare Solutions has relationships with over 1,900 healthcare product manufacturers, giving them access to over 64,500 product stock-keeping units as of March 31, 2023.
The company has 73 warehouses in 37 cities across 19 states and union territories, and its customer base includes over 81,400 pharmacies and 3,400 hospitals in 495 districts as of March 31, 2023. This provides excellent access to healthcare product manufacturers.
As of 31st March, 2023, the company employs a total of 3014 people in various departments.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 1,505.95 | 1,308.73 | 1,125.98 | 833.79 |
| Total Income | 1,898.98 | 3,305.72 | 2,526.55 | 1,783.67 |
| Profit After Tax | 11.64 | -11.10 | -29.44 | -15.35 |
| NET Worth | 660.54 | 597.66 | 563.22 | 487.06 |
| Total Borrowing | 488.68 | 373.52 | 285.03 | 141.70 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/prepayment, in full or part, of certain borrowings availed of by our Company | 142.50 |
| 2 | Funding of long-term working capital requirements of the Company and its Subsidiaries during Fiscals 2025 and 2026 | 480.00 |
| 3 | General corporate purposes | 91.70 |
| 4 | Pursuing inorganic growth initiatives through acquisitions | 237.00 |
| Total | 951.20 |
| KPI | |
|---|---|
| ROE | -2.66% |
| ROCE | 6.06% |
| Debt/Equity | 0.45 |
| RoNW | -1.86% |
| PAT Margin | 4.69% |
| Price to Book Value | 7.22 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 0.00 | 9.70 |
| P/E (x) | 0 | 129.75 |
| Promoter Holding | 77.11% | 52.43% |
| Market Cap | ₹3,021.21 Cr. |
The Entero Healthcare Solutions IPO is subscribed 1.53 times on February 13, 2024 6:20:00 PM (Day 3). The public issue subscribed 1.33 times in the retail category, 2.28 times in the QIB category, and 0.22 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 2.28 | 38,08,069 | 86,86,172 |
| NII | 0.22 | 19,60,609 | 4,26,756 |
| bNII (bids above ₹10L) | 0.16 | 13,07,072 | 2,13,895 |
| sNII (bids below ₹10L) | 0.33 | 6,53,537 | 2,12,861 |
| Retail | 1.33 | 13,07,073 | 17,43,885 |
| Employee | 1.25 | 74,349 | 93,071 |
| Total | 1.53 | 71,50,100 | 1,09,49,884 |
Total Application : 1,29,800
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission) | 40.59 |
| 2 | Brokerage, selling commission, bidding charges, processing fees and bidding charges for the Members of the Syndicate, Registered Brokers, SCSBs, RTAs and CDPs | 2.24 |
| 3 | Advertising and marketing expenses for the Offer | 7.60 |
| 4 | Other expenses | |
| 5 | Listing fees, SEBI filing fees, BSE & NSE processing fees, book building software fees | 4.38 |
| 6 | Other regulatory expenses | 0.54 |
| 7 | Printing and stationery expenses | 2.14 |
| 8 | Fees payable to the Registrar to the Offer | |
| 9 | Fees payable to the legal counsel | 10.14 |
| 10 | Miscellaneous, if any | 10.31 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹1,258.00 | ₹1,258.00 |
| Open | ₹1,245.00 | ₹1,228.70 |
| Low | ₹1,141.80 | ₹1,141.00 |
| High | ₹1,258.00 | ₹1,258.00 |
| Last Trade | ₹1,149.50 | ₹1,149.55 |
Lead Manager Reports
Entero Healthcare Solutions IPO is a main-board IPO of 1,27,20,044 equity shares of the face value of ₹10 aggregating up to ₹1,600 Crores. The issue is priced at ₹1258 per share. The minimum order quantity is 11.
The IPO opens on Fri, Feb 9, 2024, and closes on Tue, Feb 13, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Entero Healthcare Solutions IPO using UPI as a payment gateway. Zerodha customers can apply in Entero Healthcare Solutions IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Entero Healthcare Solutions IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Entero Healthcare Solutions IPO opens on Fri, Feb 9, 2024 and closes on Tue, Feb 13, 2024.
Entero Healthcare Solutions IPO lot size is 11, and the minimum amount required for application is ₹13,838.
You can apply in Entero Healthcare Solutions IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Entero Healthcare Solutions IPO will be done on Wednesday, February 14, 2024, and the allotted shares will be credited to your demat account by Thu, Feb 15, 2024. Check the Entero Healthcare Solutions IPO allotment status.
The Entero Healthcare Solutions IPO listing date is on Fri, Feb 16, 2024.
