Entero Healthcare fixes IPO

Entero Healthcare fixes IPO price band at ₹1,195-1,258 per share

Entero Healthcare Solutions Ltd. has announced to open its initial public offering (IPO) on Friday, February 9, in the price band of ₹1,195-1,258 per equity share. The IPO will close Tuesday, February 13.  Bids can be made for a minimum of 11 equity shares and in multiples of 11 shares thereafter. The IPO comprises fresh issue of equity shares aggregating up to ₹1,000 crore and an offer for sale of up to 47,69,475 equity shares by selling shareholders. 

The company intends to use the proceeds of the fresh issue towards funding the repayment/prepayment, in full or part, of certain borrowings availed of by the company, towards funding of long-term working capital requirements and its subsidiaries during fiscals 2025 and 2026, pursuing inorganic growth initiatives through acquisitions as well as for general corporate purposes.

Entero Healthcare Solutions IPO Details: Entero Healthcare Solutions IPO date is fixed, the IPO is to hit the market on February 9 and will close on February 13. Entero Healthcare Solutions IPO to raise around ₹1600 crores via IPO that comprises fresh issue of ₹1000 crores and offer for sale up to 12,718,600 equity shares of ₹10 each. The retail quota is 10%, QIB is 75%, and HNI is 15%.

Entero Healthcare Solutions is amongst the top three healthcare products distributors in India in terms of revenue in Financial Year 2022, and reported an operating income of ₹25,220.65 million in Financial Year 2022 (Source: CRISIL Report). Further, they also achieved the fastest scale-up of operations among healthcare products distributors in India (between Financial Year 2019 to Financial Year 2022), and reached ₹25,000 million of operating income within four years of operations (Source: CRISIL Report).

The Company was founded in 2018 by Prabhat Agrawal, their Promoter, Managing Director, and Chief Executive Officer, and Prem Sethi, their Promoter, Whole-time Director, and Chief Operating Officer, 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. They add value to the healthcare product manufacturers that work with them by providing them reach and accessibility to pharmacies, hospitals, and clinics through their integrated and technology-driven, pan-India healthcare products distribution platform.

As of March 31, 2023, 73 warehouses located across the country, last-mile delivery infrastructure, and relationships with pharmacies, hospitals, and clinics enable healthcare product manufacturers to make their products available to a wide range of customers. Similarly, the pharmacies, hospitals, and clinics that they service get access to a wide range of healthcare products through their distribution infrastructure and their healthcare product manufacturer relationships. During the Financial Years 2021, 2022, and 2023, they catered to over 39,500, 64,200, and 81,400 retail customers, respectively, and over 1,600, 2,500, and 3,400 hospital customers, respectively. Further, as of March 31, 2023, they have supply relationships with over 1,900 healthcare product manufacturers that give them access to over 64,500 product stock-keeping units (“SKUs”).



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