Entero Healthcare IPO: Rs 1600 crore IPO is coming in the market, know the price band and GMP
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Entero Healthcare IPO: Applications for the IPO of Entero Healthcare Solutions is starting from 9th of this month which will run till 13th February. At the same time, anchor investors will be given a chance to bid a day earlier on February 8. The company is trying to collect Rs 1600 crore from the market. Apart from issuing fresh equity shares, this also includes OFS.
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Fresh shares worth one thousand crores will be issued by the company. Whereas, shares will be issued under offer for sale worth Rs 600 crore.
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The company has fixed the IPO price band at Rs 1,195 to Rs 1,258 at the face value of Rs 10. The floor price is 119.50 times the face value of equity shares and the cap price is 125.80 times.
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The company has made losses in the last three financial years, so value on earnings does not apply. The company is basically Haryana based.
How much will have to be invested?
Entero Healthcare Solutions IPO has a lot size of 11 equity shares and in multiples of 11 equity shares thereafter. This means that the investor will have to invest at least Rs 13,145 (1,195X11) at the minimum price and Rs 13,838 (1,258X11) at the maximum price. Whereas, the company is allowing retail investors to invest Rs 1,93,732 for a maximum of 154 equity shares. The company was founded by Prabhat Aggarwal and Prem Sethi. As of FY 2022-23, the company has built a pan-India, tech-driven and integrated healthcare product distribution platform with 77 warehouses across the country for multiple customers in the pharmacies, hospitals and clinics sectors.
What will the company do with the money?
The company has made a big plan regarding the funds received from IPO. Entero Healthcare Solutions will use the funds to finance its long-term working capital requirements for fiscal years 2025 and 2026. The funds remaining after repayment of the loan will then be used to pursue inorganic growth through acquisitions and also for general corporate needs. According to the IPO letter, the book running lead managers are ICICI Securities Ltd, Dam Capital Advisors Ltd, Jefferies India Pvt Ltd, JM Financial Ltd and SBI Capital Markets Ltd. The registrar of the issue is Link Intime India Private Limited.
When will the allotment of shares take place?
Tentatively, the Antero Healthcare Solutions IPO basis of allotment of shares will be finalized on Wednesday, February 14.
When will the refund be made?
Entero Healthcare Solutions will start the refund process on February 15. Whereas the shares will be credited to the demat account of the allottees on the same day after refund.
When will the listing happen?
Entero Healthcare Solutions is going to be listed on the mainboard. It may be listed on BSE and NSE on Friday, 16 February.
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