Entero Healthcare Solutions IPO: From financials to key risks, here are 10 key things to know from RHP
Entero Healthcare Solutions IPO: Entero Healthcare Solutions raised ₹716 crore from anchor investors a day ahead of its IPO subscription opening for bidding.
Entero Healthcare Solutions IPO of ₹1600 crore is open for subscription and is witnessing a tepid response. Entero Healthcare Solutions IPO opened for subscription on Friday, February 9.
At the end of day 1, Entero Healthcare Solutions IPO subscription status was 10 per cent. Entero Healthcare IPO retail investors portion was subscribed 45 per cent, the Non-Institutional Investors (NII) portion was booked 4 per cent, and the Qualified Institutional Buyers (QIB) portion was yet to be booked. The employee portion was subscribed 33 per cent.
Entero Healthcare Solutions raised ₹716 crore from anchor investors a day ahead of its IPO subscription opening for bidding.
Also Read: Entero Healthcare Solutions IPO: Firm mobilises ₹716 crore from anchor investors ahead of issue
Entero Healthcare Solutions IPO basis of allotment of shares will be finalised on Wednesday, February 14, and the company will initiate refunds on Thursday, February 15, while the shares will be credited to the demat account of allottees on the same day following the refund.
The primary line of business of Entero Healthcare Solutions is in the distribution of healthcare products to retail pharmacies, hospitals and healthcare clinics in India, according to the company's RHP.
Entero Healthcare Solutions IPO GMP: Shares of the company are available at a premium of ₹5 in the grey market today, say market observers.
Here are 10 key things about the Entero Healthcare Solutions IPO, according to the company's Red Herring Prospectus (RHP):
About Entero Healthcare Solutions IPO: Entero Healthcare Solutions IPO comprises a fresh issue of ₹1,000 crore, for ₹1,600 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.
Entero Healthcare Solutions IPO price band: The Entero Healthcare Solutions IPO price band has been fixed in the range of ₹1,195 to ₹1,258 per equity share of a 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 key dates: Entero Healthcare Solutions IPO opened for subscription on Friday, February 9, and it will close on Tuesday, February 13.
Entero Healthcare Solutions IPO reservation: Investors can bid for a minimum of 11 shares and in multiples thereof. The minimum amount of investment required by retail investors is ₹13,838.
Entero Healthcare Solutions IPO has reserved not less than 75 per cent of the shares in the public issue for qualified institutional buyers (QIB), not more than 15 per cent for non-institutional Institutional Investors (NII), and not more than 10 per cent 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 promoters: The company's promoters are Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Limited.
Entero Healthcare Solutions IPO book-running lead managers: ICICI Securities Limited, Dam Capital Advisors Ltd (Formerly IDFC Securities Ltd), Jefferies India Private Limited, JM Financial Limited and SBI Capital Markets Limited are the book-running lead managers of the issue.
Registrar of the issue: Link Intime India Private Ltd is the registrar for the Entero Healthcare Solutions IPO.
Entero Healthcare Solutions IPO listing: Entero Healthcare Solutions IPO is proposed to be listed on BSE and NSE.
Entero Healthcare Solutions financials: The company experienced losses in the financial years 2021, 2022 and 2023, and the six months ended September 30, 2022.
"The losses for the financial years 2021, 2022 and 2023, and the six months ended September 30, 2022, have primarily arisen due to our total expenses being higher than our total income for these periods. The losses for the financial years 2021, 2022 and 2023, and the six months ended September 30, 2022, also include expenses towards COVID-19 related inventory write-offs and losses relating to our scaled-down ancillary business," according to the RHP.
Risks: According to the company, if it is unable to identify expansion opportunities or experiences delays or other problems in implementing its strategy of inorganic growth, its business, financial condition, results of operations, cash flows and prospects may be adversely affected.
Besides, the company says even if it can expand its network as planned, it may not be able to continue to integrate and optimise a larger network.
"There can be no assurance that such investments and acquisitions will achieve their anticipated benefits. To the extent that we fail to identify, complete and successfully integrate acquisitions with our existing business or should the acquisitions not deliver the intended results, our financial performance could be adversely affected," the RHP says.
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