Entero Healthcare’s Rs 1,600-cr IPO biggest so far in 2024: 10 things to know before subscribing to the issue


The initial public offering (IPO) of Entero Healthcare will open for subscription on February 9 and close on February 13. Through the IPO, the company plans to raise about Rs 1,600 crore. Here are 10 things to know before subscribing to the issue.

1) What is the business overview of Entero Healthcare?

Entero Healthcare Solutions helps healthcare product manufacturers by providing them with reach and accessibility to pharmacies, hospitals and clinics. As of March 2023, the company has 73 warehouses located across the country.

2) What is the industry overview of Entero Healthcare?

The target addressable market for pharmaceutical distributors in India is valued at Rs 2.7 lakh crore in the fiscal year 2023 and is expected to grow at 10-11% CAGR from FY23-28.

3) What is the size of Entero Healthcare IPO?

The IPO comprises a fresh equity issue of Rs 1,000 crore and an offer for sale of up to 47.69 lakh shares. Under the OFS, Prabhat Agrawal, Prem Sethi, Orbimed Asia Iii Mauritius, Chethan MP, Deepesh T Gala, among others, will offload shares.

4) What is the price band for Entero Healthcare IPO?

The price band for the public offer has been fixed from Rs 1,195-1258 per equity share. Bids can be made for a minimum of 11 shares and in multiples thereafter.

5) What is the structure of Entero Healthcare IPO?

About 75% of the issue is reserved for qualified institutional buyers, 15% for non-institutional bidders, and 10% for retail investors.

6) How is the financial performance of Entero Healthcare?

During FY23, revenue from operations increased 31% year-on-year to Rs 3,300 crore and losses narrowed to Rs 11.1 crore from Rs 29.4 crore a year earlier.

7) What are the objectives of Entero Healthcare IPO?

The company intends to use the proceeds towards repayment of debt, meet long-term working capital requirements, fund subsidiaries, and pursue inorganic growth initiatives through acquisitions as well as for general corporate purposes.

8) What is the current GMP of Entero Healthcare?

According to market analysts, the current GMP of Entero Healthcare is Rs 118 in the unlisted market.

9) Who are the book-running lead managers for Entero Healthcare IPO?

Jefferies India, JM Financial and SBI Capital Markets are the book-running lead managers to the offer.

10) When is the share allotment and listing date of Entero Healthcare IPO?

The share allotment for the IPO will be finalised on February 14 and the listing date is fixed as February 16.

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