Entero Healthcare Solutions Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | February 9, 2024 to February 13, 2024 |
| Listing Date | February 16, 2024 |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 1,195 to ₹ 1,258 per share |
| Lot Size | 11 Shares |
| Total Issue Size | 1,27,18,600 shares (aggregating up to ₹ 1,600.00 Cr) |
| Fresh Issue | 79,49,125 shares (aggregating up to ₹ 1,000.00 Cr) |
| Offer for Sale | 47,69,475 shares of ₹10 (aggregating up to ₹ 600.00 Cr) |
| Employee Discount | Rs 119 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 3,95,77,705 |
| Share holding post issue | 4,75,26,830 |
About Entero Healthcare Solutions Limited IPO
Entero Healthcare Solutions Ltd. (EHSL) is amongst the top three healthcare products distributors in India in terms of revenue in Financial Year 2022. Further, it also achieved the fastest scale-up of operations among healthcare products distributors in India (between Financial Year 2019 to Financial Year 2022). The Company was founded with the vision to create an organized, Pan-India, technology driven and integrated healthcare products distribution platform that can add value to the entire healthcare ecosystem. The company adds value to the healthcare product manufacturers that work with it by providing them reach and accessibility to pharmacies, hospitals and clinics through EHSL's integrated and technology driven, Pan-India healthcare products distribution platform.
Entero Healthcare Solutions IPO is a book-built issue of Rs 1,600.00 crores. The issue is a combination of fresh issue of 0.79 crore shares aggregating to Rs 1,000.00 crores and offer for sale of 0.48 crore shares aggregating to Rs 600.00 crores. Entero Healthcare Solutions IPO price band is set at ₹1195 to ₹1258 per share. The minimum lot size for an application is 11 Shares. 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 Entero Healthcare Solutions IPO, while Link Intime India Private Ltd is the registrar for the issue.
Objectives of Entero Healthcare Solutions IPO
The Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objectives:
- ● Repayment/prepayment, in full or part, of certain borrowings availed of by the company and its Subsidiaries.
- ● Funding the long term working capital requirements.
- ● Pursuing inorganic growth initiatives through acquisitions.
- ● General corporate purposes.
Entero Healthcare Solutions IPO Review
The company is one of the leading and fastest growing healthcare product distributors in India. EHSL marked losses for FY21 to FY23 and turned the corner for H1 of FY24. Based on annualized FY24 earnings, the issue appears aggressively priced, discounting all near term positives. Well-informed/risk seeker/cash surplus investors may park funds for the long term reward as it holds prospects going forward.
Entero Healthcare Solutions Limited IPO Financial Information
Latest Revenue
1,898.98
₹ Crore
Profit After Tax
11.64
₹ Crore
Net Worth
660.54
₹ Crore
Total Borrowing
488.68
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 1,505.95 | 1,898.98 | 11.64 | 660.54 | 488.68 | ||||
| 31 Mar 2023 | 1,308.73 | 3,305.72 | -11.10 | 597.66 | 373.52 | ||||
| 31 Mar 2022 | 1,125.98 | 2,526.55 | -29.44 | 563.22 | 285.03 | ||||
| 31 Mar 2021 | 833.79 | 1,783.67 | -15.35 | 487.06 | 141.70 | ||||
| Amount in ₹ Crore | |||||||||
Entero Healthcare Solutions Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | -2.66% |
| ROCE | 6.06% |
| Debt/Equity | 0.45 |
| RoNW | -1.86% |
| P/BV | 7.22 |
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Competitive Strengths
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Entero Healthcare Solutions Limited IPO Timeline
| IPO Open Date | Friday, February 9, 2024 |
| IPO Close Date | Tuesday, February 13, 2024 |
| Basis of Allotment | Wednesday, February 14, 2024 |
| Initiation of Refunds | Thursday, February 15, 2024 |
| Credit of Shares to Demat | Thursday, February 15, 2024 |
| Listing Date | Friday, February 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 13, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 11 | ₹13,838 |
| Retail (Max) | 14 | 154 | ₹193,732 |
| S-HNI (Min) | 15 | 165 | ₹207,570 |
| S-HNI (Max) | 72 | 792 | ₹988,416 |
| B-HNI (Min) | 73 | 803 | ₹1,010,174 |