Entero Healthcare Solutions IPO: Rs 1,600 crore IPO opening from today, know price band and GMP
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Entero Healthcare Solutions IPO: If you are thinking of investing money in a great IPO, then you have a great opportunity today. The IPO of Entero Healthcare Solutions has opened for bidding by retail investors from today. The company had earlier raised ₹716 crore from anchor investors on February 8.
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The company told the stock exchange that it has offered 56,94,753 equity shares of face value Rs 10 to 25 anchor investors at the upper price band of Rs 1258 per equity share.
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The company has fixed the price band of ₹ 1,195 to ₹ 1,258 per equity share for retail investors.
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You can apply for the IPO of Entero Healthcare Solutions till 13 February.
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The company’s shares are commanding a premium of Rs 126 per equity in the gray market.
Who are the anchor investors of the company?
Entero Healthcare Solutions opened the IPO for its anchor investors a day before opening the IPO for retail investors. Its anchor book includes Capital Group, GIC, TT Emerging Markets Unconstrained Fund, Premji, Carmignac Portfolio, Amundi Funds New Silk Road, Amundi Funds Asia Equity Concentrated, Bajaj Allianz Life Insurance Company Limited, SBI General Insurance Limited, Jupiter India Fund, among others. Participation of major investors was seen.
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 left after repayment of 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 to the issue is Link Intime India Private Limited.
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