Entero Healthcare Solutions IPO opens on Feb 9. Should you apply? - Hindustan Times
close_game
close_game

Entero Healthcare Solutions IPO opens on Feb 9. Should you apply?

Feb 08, 2024 04:11 PM IST

Entero Healthcare's IPO is a combination of a fresh issue of equity shares worth up to ₹1,000 crore and an OFS component of 47.69 lakh equity shares

Healthcare products distributor firm Entero Healthcare Solutions will open its initial public offering (IPO) for subscription on February 9 and will close its subscriptions on February 13. The company was founded by Prabhat Agarwal and Prem Sethi in 2018. It is known as one of the top three healthcare product distributors in India in terms of revenue in financial year 2022-23.

ALSO READ: Hyundai may launch India's largest IPO ever this Diwali: All you need to know

IPO stands for Initial Public Offering and it is when the promoters of the company in question for the first time want to raise additional funds by offering shares of the company.
IPO stands for Initial Public Offering and it is when the promoters of the company in question for the first time want to raise additional funds by offering shares of the company.

Here are five things you should know before you decide to subscribe to the issue:

Unlock exclusive access to the story of India's general elections, only on the HT App. Download Now!

1. The Entero Healthcare Solutions IPO is worth 1,600 crore. It has a fixed price band of 1,195-1,256 per share.

2. Entero Healthcare's IPO is a combination of a fresh issue of equity shares worth up to 1,000 crore and an Offer For Sale (OFS) component of 47.69 lakh equity shares aggregating up to 600 crore at the upper end of the price band.

Those selling shares in OFS include Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Ltd.

3. The company said that proceeds from the IPO will be utilised for payment of debt, funding working capital requirements, inorganic growth initiatives through acquisitions and general corporate purposes.

4. According to the company, 75 per cent of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.

5. ICICI Securities Ltd, DAM Capital Advisors Ltd, Jefferies India Private Ltd, JM Financial Ltd and SBI Capital Markets Ltd are book-running lead managers to the offer.

ALSO READ: What valuation should Reddit aim for in upcoming IPO? Recommendations suggest..

Entero Healthcare Solutions IPO GMP

In the grey market, the shares of Entero Healthcare Solutions are trading at a premium of 125. The expected listing price will be 1,383 which is nearly 10 per cent of the issue price. The IPO is expected to be listed on BSE and NSE on February 16.

(With PTI inputs)

Discover the complete story of India's general elections on our exclusive Elections Product! Access all the content absolutely free on the HT App. Download now!
Stay informed on Business News, TCS Q4 Results Live along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
  • ABOUT THE AUTHOR
    author-default-90x90

    Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.

SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Sunday, April 14, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On