For its Rs 1,600 crore IPO, Entero Healthcare has established a price range of Rs 1,195–1,258,58

For its Rs 1,600 crore IPO, Entero Healthcare has established a price range of Rs 1,195–1,258,58

For its Rs 1,600 crore IPO, Entero Healthcare has established a price range of Rs 1,195–1,258,58

The IPO of Entero Healthcare Solutions Subscriptions for the issue will be accepted from February 9–13, and on February 8 there will be a single day dedicated to the anchor book auction.

Dates and price range for Entero Healthcare Solutions' IPO were revealed.

For its Rs 1,600 crore initial public offering, Entero Healthcare Solutions, located in Haryana, has set the price range between Rs 1,195 and Rs 1,258 per share.

Subscriptions for the IPO will be accepted from February 9 through February 13. On February 8, there will be a single day dedicated to anchor book bidding.

After Capital Small Finance Bank, Rashi Peripherals, Jana Small Finance Bank, Apeejay Surendra Park Hotels, as well as Rashi, this will be the seventh public offering this month.

The distributor of medical supplies intends to raise Rs 600 crore via an offer-for-sale (OFS) in the top price range and Rs 1,000 crore via the fresh issue component.

With 38.15 lakh shares, corporate promoter OrbiMed Asia III Mauritius would be the OFS's biggest selling stakeholder. OrbiMed, an American investment business with a focus on healthcare, owns 57.27 percent of Entero.

The individual promoters Prabhat Aggarwal and Prem Sethi will sell 4.7 lakh as well as 3.13 lakh equity shares in the OFS, respectively, while the other 16 shareholders will sell the remaining 1.7 lakh shares irrespective of the 47.69 lakh total shares in the OFS.

Employees of Entero Healthcare Solutions would get shares valued at Rs 8 crore, discounted by Rs 119 per share from the final offer price.

The remaining 10% of the shares have been developed reserved for retail investors, 15% for high net worth people, and up to 75% of the net offer (i.e., minus employee reservation) for eligible institutional purchasers.

Investors may place bids in multiples of 11 shares following the minimum of 11 equity shares. Retail investors may thus deposit a maximum of Rs 1,93,732 for 154 equity shares in the IPO, with a minimum application size of Rs 13,838 for 11 shares.

The Prabhat Aggarwal and Prem Sethi-founded business has raised Rs 142.5 crore from Pure Fresh. The business has established a technology-driven, integrated healthcare product distribution platform throughout India, with 77 warehouses serving numerous clients in the pharmacy, hospital, and clinic sectors. Will dispense. Release Rs 480 crore for long-term working capital needs and release revenues to pay off debt.

The remaining proceeds from the fresh issuance will also be used for general company purposes and inorganic development strategies including acquisitions.

Due in large part to strong operational performance, the distributor of healthcare items turned a profit of Rs 11.64 crore in the six months that ended in September of FY24, as opposed to a loss of Rs 10.86 crore during the same period in the previous fiscal year. was backed. Over the same year, operating revenue increased 19.7% to Rs 1,895.5 crore.

It recorded a loss of Rs 11.1 crore for the most recent fiscal year 2022–2023, which is less than the loss of Rs 29.4 crore for the year before. Over the same year, operating revenue increased by 30.85% to Rs 3,300 crore.

By February 14th, Entero Healthcare Solutions, which is among the top three distributors of healthcare goods in India based on FY22 sales, will complete the basis for allotment of IPO shares. By February 15th, the shares will be deposited into the demat accounts of qualified investors. Will be completed.

On February 16, trading in its equity shares is probably going to start on the BSE and NSE.