Entero Healthcare Solutions IPO Day 3: Check GMP, subscription status, review, key dates, and other details

Entero Healthcare Solutions IPO opened for subscription on Friday, February 09, and will close on Tuesday, February 13. The Entero Healthcare IPO hoped to get by on the last day of bidding with some positive response from retail investors but was not successful.

The Entero Healthcare IPO was struggling to get through in its first day, competing with the other three IPOs. Not much enthusiasm was expressed by the retail investors, and there was very little response from non-institutional investors. Entero Healthcare Solutions IPO subscription status was 10%.

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.

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

On the last day of subscription, the Entero Healthcare Solutions IPO was subscribed only 1.53 times. The IPO received 1,09,49,884 shares against offered 71,50,100 shares, as per data by BSE.

Healthcare IPO retail investors portion was subscribed 1.33 times, Non Institutional Investors (NII) portion was booked 0.22, and Qualified Institutional Buyers (QIB) portion was booked 2.28 times. The employee portion was subscribed 1.25 times.

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 0. This indicates Entero Healthcare share price were trading at a premium of ₹0 in the grey market, according to investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.