Entero Healthcare IPO: Issue receives tepid response from investors on Day 01; Check GMP, Entero IPO subscription status
- The Entero Healthcare Solutions IPO price band has been set at ₹1,195 to ₹1,258 per equity share. The Entero Healthcare Solutions IPO date of subscription is from February 9 to February 13.
Entero Healthcare Solutions IPO opened for subscription today (Friday, February 09), and will close on Tuesday, February 13. The Entero Healthcare IPO was struggling to get through in its first day, competing with the other three IPOs that are closing today. Not much enthusiasm was expressed by the retail investors, and there was very little response from non-institutional investors. Since there are still two days remaining for subscription the Entero Healthcare IPO seems to have hope.
At the end of day 1, Entero Healthcare Solutions IPO subscription status is 10%. Entero Healthcare IPO retail investors portion has been subscribed 45%, Non Institutional Investors (NII) portion is booked 4%, and Qualified Institutional Buyers (QIB) portion is yet to be booked. The employee portion has been subscribed 33%.
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Entero Healthcare Solutions IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. The employee portion has been reserved equity shares worth up to ₹8 crore, and a discount of ₹119 per equity share is being offered to eligible employees bidding in the employee reservation portion.
The Entero Healthcare Solutions IPO price band has been fixed in the range of ₹1,195 to ₹1,258 per equity share of the face value of ₹10. Entero Healthcare Solutions IPO raised ₹716 crore from 25 anchor investors at the upper price band of ₹1,258 per equity share.
Entero Healthcare Solutions IPO subscription status
Entero Healthcare Solutions Limited IPO has received bids for 6,91,163 shares against 71,50,100 shares on offer, according to data from the BSE.
Entero Healthcare Solutions IPO retail investors' portion received bids for 5,83,154 shares against 13,07,073 shares on offer for this segment.
Entero Healthcare IPO's non-institutional investors' portion received bids for 83,589 shares against 19,60,609 on offer for this segment.
Entero IPO's QIBs portion have did not receive any bids against 38,08,069 shares on offer for this segment.
Entero IPO's employee portion have received 24,420 bids against 74,349 shares on offer for this segment.
Entero Healthcare Solutions IPO details
Entero Healthcare Solutions IPO, which is worth ₹1,600 crore, comprises a fresh issue of ₹1000 crore, and an offer-for-sale (OFS) of up to 4,769,475 equity shares by the promoters and other investors aggregating up to ₹600 crore.
The promoters selling shareholders are Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Limited. The biggest shareholder to sell is OrbiMed Asia III Mauritius Limited, which is offloading 3,815,580 equity shares. Prabhat Agrawal and Prem Sethi will sell 470,210 and 313,472 equity shares, respectively. Additional shareholders that are selling their shares include Novacare Drug Specialities Private Limited, which is selling up to 42,250 equity shares, and K.E. Prakash, who is selling up to 39,610 equity shares.
The company intends to use the net proceeds from the fresh offering to finance the following goals: financing the company's long-term working capital needs for Fiscal Years 2025 and 2026; pursuing inorganic growth initiatives through acquisitions; and general corporate purposes. Repayment or prepayment of certain borrowings that the company has taken out may be done in full or in part.
The Entero Healthcare Solutions IPO's book running lead managers are ICICI Securities Limited, Dam Capital Advisors Ltd (formerly Idfc Securities Ltd), Jefferies India Private Limited, JM Financial Limited, and SBI Capital Markets Limited. The issue's registrar is Link Intime India Private Ltd.
Entero Healthcare Solutions IPO GMP today
Entero Healthcare Solutions IPO GMP or grey market premium is +118. This indicates Entero Healthcare share price were trading at a premium of ₹118 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, Entero Healthcare Solutions IPO expected listing price was ₹1,376 apiece, which is 9.38% higher than the IPO price of ₹1,258.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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