Entero Healthcare Solutions Ltd. IPO

Entero Healthcare Solutions Ltd.

IPO Listing Details

Listed On

BSE & NSE

Listed On

Issue Price

₹1,258

Issue Price

Listing Price

₹1,245

Listing Price

Listing Gains

-₹13.00 (-1.03%)

Listing Gains

IPO Details

Bidding Dates

09 Feb - 13 Feb '24

Bidding Dates

Min. Investment

₹13,145

Min. Investment

Lot Size

11.00

Lot Size

Price Range

₹1195 - ₹1258

Price Range

Issue Size

854 Cr

Issue Size

Subscription Rate

  • Retail Individual Investor
    1.33x
  • Non-Institutional Investor
    0.22x
  • Qualified Institutional Buyers
    2.28x
  • Employees
    1.25x


About Company

Established in 2018, Entero Healthcare Solutions Limited operates as a healthcare product distributor in India, utilizing a technology-centric platform to extend its services to pharmacies, hospitals, and clinics nationwide. Throughout the fiscal years 2021, 2022, and 2023, the company catered to increasing numbers of retail and hospital customers, with figures surpassing 39,500, 64,200, and 81,400 for retail customers and exceeding 1,600, 2,500, and 3,400 for hospital customers during the respective periods. Entero Healthcare Solutions boasts partnerships with more than 1,900 healthcare product manufacturers, facilitating access to an extensive inventory of over 64,500 product stock-keeping units by March 31, 2023.Operating across 73 warehouses located in 37 cities within 19 states and union territories, the company's expansive reach serves over 81,400 pharmacies and 3,400 hospitals across 495 districts as of March 31, 2023, thereby ensuring robust connectivity with healthcare product manufacturers

Important Dates - Entero Healthcare Solutions IPO

Application opens on 9th February 2024
Last date of application 13th February 2024
Date of Allotment 14th February 2024
Refund begins from 15th February 2024
Credit of shares to Demat 15th February 2024
Listing date 16th February 2024

Why should you invest in Entero Healthcare Solutions Ltd. IPO?

The primary objective of the company is to establish a structured and technology-oriented platform for distributing healthcare products, catering to the comprehensive healthcare ecosystem across India. By adopting a nationwide strategy, the company strategically acquires and integrates smaller distributors, thereby expanding its geographic coverage and enhancing its customer base.

 

Entero Healthcare Solutions IPO Grey Market Premium

Date GMP
09th February Rs.118
08th February Rs.118
07th February Rs.125

Entero Healthcare Solutions IPO Noteworthy Highlights

The company intends to utilize the net proceeds from the fresh issue for the following purposes:

  • Repayment or prepayment, either wholly or partially, of specific borrowings obtained by the company and its subsidiaries.
  • Financing the long-term working capital needs of the business.
  • Pursuing growth opportunities through acquisitions as part of its inorganic growth strategy.
  • Meeting general corporate requirements.


Entero Healthcare Solutions Ltd. IPO - SWOT Analysis

Strengths

  1. The company operates within the expansive and decentralized Indian healthcare products distribution market, which consisted of approximately 65,000 distributors as of March 31, 2023. It anticipates leveraging market consolidation to its advantage.
  2. Entero Healthcare Solutions is positioned as one of India's leading and rapidly expanding platforms for distributing healthcare products.

 

Weaknesses

  1. The company has consistently reported negative cash flows from investing, operating, and financing activities from fiscal year 2021 through the second quarter of fiscal year 2024.
  2. Entero Healthcare Solutions has incurred losses during fiscal years 2021, 2022, and 2023.
  3. As of September 30, 2023, the company has high working capital needs amounting to ₹782 crore.
  4. Entero Healthcare Solutions has total outstanding borrowings of ₹489 crore as of September 30, 2023.

 

Opportunities

The company has a proven track record of expanding its operations through inorganic means, having successfully acquired 34 entities within the healthcare products distribution industry since the fiscal year 2018.

 

Threats

  1. The company is subject to credit risk, with trade receivables reaching ₹630 crore as of September 30, 2023.
  2. Entero Healthcare Solutions faces risks associated with health epidemics and pandemics, which could impact its operations.
  3. Changes in prescription drug pricing pose a potential risk that could adversely affect the company's operations and financial performance.

 

Financial Snapshot - Entero Healthcare Solutions IPO

Check out the financial performance of Entero Healthcare Solutions for recent years:

Financial Year Total Assets Total Revenues Net Profit
March 2021 Rs 833.79 crore Rs 1,783.67 crore Rs -15.35 crore
March 2022 Rs 1,125.98 crore Rs 2,526.55 crore Rs -29.44 crore
March 2023 Rs 1,3908.73 crore Rs 3,305.72 crore Rs -11.10 crore



How to apply for Entero Healthcare Solutions Ltd. IPO?

You can apply for the Entero Healthcare Solutions Ltd. IPO in these ways:

UPI
Link your personal bank A/C to a trusted UPI ID and map it with your TradeSmart account. Now, proceed further to book your IPO. On acceptance of the mandate, the bid amount will get blocked in your bank account Learn more.

Demat Account

1. If you are an Existing TradeSmart demat account holder and wish to apply for an Entero Healthcare Solutions Ltd. click here.
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Entero Healthcare Solutions Ltd. IPO FAQs

What are the opening and closing dates for Entero Healthcare Solutions IPO?

Entero Healthcare Solutions IPO will open for subscription on February 9 and close on February 13.

What is the price band for Entero Healthcare Solutions IPO?

The price band for Entero Healthcare Solutions IPO is ₹1195 to ₹1258 per share.

Who is taking part in the OFS?

The OFS will include Prabhat Agrawal, Prem Sethi, Orbimed Asia Iii Mauritius, Chethan MP, Deepesh T Gala, among others, who will offload shares. 

What is the minimum and maximum lot size for the Entero Healthcare Solutions IPO?

Applications must have a minimum lot size of 11 share and multiples of thereof. 

Who are Entero Healthcare Solutions IPO Lead Managers?

ICICI Securities, DAM Capital Advisors (IDFC Securities), Jefferies India, JM Financial and SBI Capital Markets are the joint Book Running Lead Managers (BRLMs) to the issue.

Who is the registrar of the issue?

Link Intime India  is the registrar for Entero Healthcare Solutions IPO.

When will the Entero Healthcare Solutions IPO allotment take place?

The finalisation of the basis of allotment for Entero Healthcare Solutions IPO will be done on February 14 2024, and the allotted shares will be credited to investors’ demat accounts by February 15.

When and where will the Entero Healthcare Solutions shares be listed?

The equity shares of Entero Healthcare Solutions are proposed to be listed on February 16 ,2024, on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

 

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