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16 Nov 2024
Entero Healthcare Solutions Limited IPO
Entero Healthcare Solutions Ltd. (EHSL) is amongst the top three healthcare products distributors in India in terms of revenue in Financial Year 2022. Further, it also achieved the fastest scale-up of operations among healthcare products distributors in India (between Financial Year 2019 to Financial Year 2022). The Company was founded with the vision to create an organized, Pan-India, technology driven and integrated healthcare products distribution platform that can add value to the entire healthcare ecosystem. The company adds value to the healthcare product manufacturers that work with it by providing them reach and accessibility to pharmacies, hospitals and clinics through EHSL's integrated and technology driven, Pan-India healthcare products distribution platform.
Entero Healthcare Solutions IPO is a book-built issue of Rs 1,600.00 crores. The issue is a combination of fresh issue of 0.79 crore shares aggregating to Rs 1,000.00 crores and offer for sale of 0.48 crore shares aggregating to Rs 600.00 crores. Entero Healthcare Solutions IPO price band is set at ₹1195 to ₹1258 per share. The minimum lot size for an application is 11 Shares. ICICI Securities Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), Jefferies India Private Limited, Jm Financial Limited and SBI Capital Markets Limited are the book running lead managers of the Entero Healthcare Solutions IPO, while Link Intime India Private Ltd is the registrar for the issue.
Entero Healthcare Solutions IPO Overview
| Detail | Description |
|---|---|
| IPO Date | February 9, 2024 to February 13, 2024 |
| Listing Date | February 16, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹1195 to ₹1258 per share |
| Lot Size | 11 Shares |
| Total Issue Size | 12,718,600 shares (aggregating up to ₹1,600.00 Cr) |
| Fresh Issue | 7,949,125 shares (aggregating up to ₹1,000.00 Cr) |
| Offer for Sale | 4,769,475 shares of ₹10 (aggregating up to ₹600.00 Cr) |
| Employee Discount | Rs 119 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 39,577,705 |
| Share holding post issue | 47,526,830 |
Entero Healthcare Solutions IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Friday, February 9, 2024 |
| IPO Close Date | Tuesday, February 13, 2024 |
| Basis of Allotment | Wednesday, February 14, 2024 |
| Initiation of Refunds | Thursday, February 15, 2024 |
| Credit of Shares to Demat | Thursday, February 15, 2024 |
| Listing Date | Friday, February 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 13, 2024 |
Entero Healthcare Solutions IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 11 | ₹13,838 |
| Retail (Max) | 14 | 154 | ₹193,732 |
| S-HNI (Min) | 15 | 165 | ₹207,570 |
| S-HNI (Max) | 72 | 792 | ₹988,416 |
| B-HNI (Min) | 73 | 803 | ₹1,010,174 |
Entero Healthcare Solutions IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 5,694,753 (44.33%) | NA | QIB Shares Offered | 3,808,069 (29.65%) | NA |
| NII (HNI) Shares Offered | 1,960,609 (15.26%) | |
| bNII > ₹10L | 1,307,072 (10.18%) | 7,921 |
| sNII < ₹10L | 653,537 (5.09%) | 3,960 |
| Retail Shares Offered | 1,307,073 (10.18%) | 118,824 |
| Employee Shares Offered | 74,349 (0.58%) | NA |
| Total Shares Offered | 12,844,853 (100%) |
Entero Healthcare Solutions IPO Promoter Holding
| Share Holding Pre Issue | 77.11% |
| Share Holding Post Issue |
Entero Healthcare Solutions IPO Anchor Investors Details
| Bid Date | February 8, 2024 |
| Shares Offered | 5,694,753 |
| Anchor Portion Size (In Cr.) | 716.40 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 15, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 14, 2024 |
Company & Financials
Incorporated in 2018, Entero Healthcare Solutions Limited is a distributor of healthcare products in India. The company's technology-driven platform provides healthcare product distribution services to pharmacies, hospitals and clinics throughout India. During the fiscal years 2021, 2022 and 2023, the company served over 39,500, 64,200, and 81,400 retail customers, respectively. Additionally, they also served over 1,600, 2,500 and 3,400 hospital customers during the same period. Entero Healthcare Solutions has relationships with over 1,900 healthcare product manufacturers, giving them access to over 64,500 product stock-keeping units as of March 31, 2023. The company has 73 warehouses in 37 cities across 19 states and union territories and its customer base includes over 81,400 pharmacies and 3,400 hospitals in 495 districts as of March 31, 2023. This provides excellent access to healthcare product manufacturers.
Entero Healthcare Solutions Limited Financial Information
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 1,505.95 | 1,308.73 | 1,125.98 | 833.79 | ||||||||||||||||||||||||||||||||||||
| Revenue | 1,898.98 | 3,305.72 | 2,526.55 | 1,783.67 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 11.64 | -11.10 | -29.44 | -15.35 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 660.54 | 597.66 | 563.22 | 487.06 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 488.68 | 373.52 | 285.03 | 141.70 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | -2.66% |
| ROCE | 6.06% |
| Debt/Equity | 0.45 |
| RoNW | -1.86% |
| P/BV | 7.22 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 0 | 9.7 |
| P/E (x) | 0 | 129.75 |
Objectives of Entero Healthcare Solutions IPO
The Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objectives:
- ● Repayment/prepayment, in full or part, of certain borrowings availed of by the company and its Subsidiaries.
- ● Funding the long term working capital requirements.
- ● Pursuing inorganic growth initiatives through acquisitions.
- ● General corporate purposes.
Entero Healthcare Solutions IPO Review
The company is one of the leading and fastest growing healthcare product distributors in India. EHSL marked losses for FY21 to FY23 and turned the corner for H1 of FY24. Based on annualized FY24 earnings, the issue appears aggressively priced, discounting all near term positives. Well-informed/risk seeker/cash surplus investors may park funds for the long term reward as it holds prospects going forward.
FAQs for Entero Healthcare Solutions IPO
-
What Is The Size Of The Entero Healthcare Solutions IPO?
Entero Healthcare Solutions IPO consists of a fresh issue of shares worth INR 1000 crores and an offer to sell 85.97 crores of existing equity shares. The company aims to repay debt, fund working capital, pursue acquisitions, and ensure corporate sustainability.
-
When will Entero Healthcare Solutions IPO Subscription will start?
The IPO subscription starts on February 9, 2024 for NII, QIB and Retail Investors.
-
When will Entero Healthcare Solutions Ltd's IPO be allotted?
The shares of Entero Healthcare Solutions IPO will be credited on February 15, 2024.
-
What minimum lot size can retail investors subscribe to?
The lot size for the IPO is 11 shares per lot.
-
When will Entero Healthcare Solutions Ltd list on exchanges?
Entero Healthcare Solutions Ltd IPO will be listed on the NSE and the BSE. The listing date is February 16, 2024.
Entero Healthcare Solutions IPO Subscription Status
Category
Subscription (times)
QIB
2.28
NII
0.22
bNII (bids above ₹10L)
0.16
sNII (bids below ₹10L)
0.33
Retail
1.33
Employee
1.25
Total
1.53
RHP:
RHP of Entero Healthcare Solutions Limited IPO
DRHP:
DRHP of Entero Healthcare Solutions Limited IPO
Anchor Investor Link:
Anchor Investor Link of Entero Healthcare Solutions Limited IPO
-
What Is The Size Of The Entero Healthcare Solutions IPO?
Entero Healthcare Solutions IPO consists of a fresh issue of shares worth INR 1000 crores and an offer to sell 85.97 crores of existing equity shares. The company aims to repay debt, fund working capital, pursue acquisitions, and ensure corporate sustainability.
-
When will Entero Healthcare Solutions IPO Subscription will start?
The IPO subscription starts on February 9, 2024 for NII, QIB and Retail Investors.
-
When will Entero Healthcare Solutions Ltd's IPO be allotted?
The shares of Entero Healthcare Solutions IPO will be credited on February 15, 2024.
-
What minimum lot size can retail investors subscribe to?
The lot size for the IPO is 11 shares per lot.
-
When will Entero Healthcare Solutions Ltd list on exchanges?
Entero Healthcare Solutions Ltd IPO will be listed on the NSE and the BSE. The listing date is February 16, 2024.
Entero Healthcare Solutions IPO Subscription Status
| Category | Subscription (times) |
|---|---|
| QIB | 2.28 |
| NII | 0.22 |
| bNII (bids above ₹10L) | 0.16 |
| sNII (bids below ₹10L) | 0.33 |
| Retail | 1.33 |
| Employee | 1.25 |
| Total | 1.53 |
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