Entero Healthcare Solutions Ltd IPO Timeline

Entero Healthcare Solutions Ltd IPO opens on 09-Feb-2024, and closes on 13-Feb-2024. The Entero Healthcare Solutions Ltd IPO bid date is from 09-Feb-2024 to 13-Feb-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Entero Healthcare Solutions Ltd IPO Opening Date 09-Feb-2024
Entero Healthcare Solutions Ltd IPO Closing Date 13-Feb-2024
Basis of Allotment 14-Feb-2024
Initiation of Refunds 15-Feb-2024
Credit of Shares to Demat 15-Feb-2024
Entero Healthcare Solutions Ltd IPO Listing Date 16-Feb-2024

Entero Healthcare Solutions Ltd IPO Lot Size

Entero Healthcare Solutions Ltd IPO lot size is 11 shares. A retail-individual investor can apply for up to 14 lots (154 shares or 193732).

Application Lots Shares Amount
Minimum 1 11 ₹13838
Maximum 14 154 ₹193732

Entero Healthcare Solutions Ltd IPO Details

Entero Healthcare Solutions Ltd IPO Date 09-Feb-2024 to 13-Feb-2024
Entero Healthcare Solutions Ltd IPO Face Value Shares of ₹10 per share
Entero Healthcare Solutions Ltd IPO Price ₹1195 to ₹1258 per share
Entero Healthcare Solutions Ltd IPO Lot Size 11
Issue Size Shares of ₹10 (aggregating up to ₹1600 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹1000 Cr)
Offer for Sale Shares of ₹10 (aggregating up to ₹600 Cr)
Issue Type Book Built Portion
Listing At BSE, NSE
QIB Shares Offered Not more than 3808069
Retail Shares Offered Not less than 1307073
NII (HNI) Shares Offered Not less than 1960609
Company Promoters Prabhat Agrawal, Prem Sethi, Orbimed Asia III Mauritius Ltd.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Repayment/prepayment in full or part of certain borrowings availed by the company and its subsidiaries
  • 2 Funding the long term working capital requirements
  • 3 General corporate purposes
  • 4 Pursuing inorganic growth intiatives through acquisitions

Company Financials

Entero Healthcare Solutions Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2023 763.57 230.26 -12.46
03-2022 654.08 164.16 -40.85
03-2021 532.71 128.30 -18.15
Amount in ₹ Crore
  • The Company operates in the large and highly fragmented Indian healthcare products distribution market and expect to benefit from market consolidation.
  • The Company is one of India's largest and fastest growing healthcare products distribution platforms.
  • The Company has a track record of inorganic expansion and integration to grow its geographic reach, revenues and scale.
  • The Company has a differentiated business model offering comprehensive and integrated commercial and supply chain solutions.
  • The Company has a proprietary technology platform with integrated business intelligence tools and solutions.
  • The Company has a experienced, committed and qualified founding and professional management team with deep industry expertise and backed by healthcare focused investor.
  • Since its inception, the company has completed a number of acquisitions of distributors in India to expand its business and increase its customer base, and may continue to complete more acquisitions in the future. However, its may be unable to realize the anticipated benefits of past or future acquisitions successfully. Further, if the company is unable to identify expansion opportunities or experience delays or other problems in implementing our strategy of inorganic growth, its business, financial condition, results of operations, cash flows and prospects may be adversely affected.
  • The company has experienced negative cash flows from operating, investing and financing activities in the past and may continue to do so in the future.
  • The company may incur losses and its reputation may be adversely affected by the return of the company products by customers, arising from the distribution of expired, unsafe, defective, ineffective or counterfeit products, and product spoilage, breakage and damage during transportation or in storage. Its may also be subject to product liability claims.
  • Its lenders have imposed certain restrictive conditions on it under the company financing arrangements, which may adversely affect its ability to conduct its business and impair the company future growth plans.
  • Its operations are subject to high working capital requirements, and have incurred substantial indebtedness. Its inability to maintain an optimal level of working capital or financing required may impact its operations and profitability adversely.
  • The company has experienced losses in the Financial Years 2021, 2022 and 2023, and the six months ended September 30, 2022.
  • The company has pledged equity shares of certain of its Subsidiaries in favor of certain lenders and if events of default arise under the financing agreements, such lenders could invoke the relevant share pledge agreements, adversely affecting its business, results of operations, cash flows and prospects.
  • Its private label business may not be successful.
  • The Price Band, Offer Price, market capitalization to total revenue, total assets and EBITDA/EV based on the Offer Price of the Company, may not be indicative of the market price of the Company on listing or thereafter.
  • Its funding requirements and proposed deployment of the Net Proceeds are based on management estimates and have not been independently appraised by any bank or financial institution or any other independent agency, and may be subject to change based on various factors, some of which are beyond its control.
  • There have been delays in filing of certain e-forms filings of the Company in compliance with the Companies Act, 2013. Consequently, its may be subject to regulatory actions and penalties for such delays which may adversely impact its business and financial condition.
  • The company has made certain errors in its form filings in the past, in relation to its capital structure and amendments to the company memorandum of association, with the Registrar of Companies.
  • The company is unable to trace the Form FC-GPR filing for one of its past allotments of Equity Shares and CCPS.
  • The company does not have long term agreements with its customers, which could adversely impact its business as its customers can terminate their relationships with the company without notice.
  • The company is subject to credit risk with respect to trade receivables.
  • The company face risks related to health epidemics and pandemics which could adversely affect its business.
  • The company may be unable to manage its growth if the company is not able to efficiently operate, maintain or expand its supply chain and distribution infrastructure. Further, its may not be able to implement its business strategies, which may adversely affect its business and prospects.
  • Risks associated with its information technology systems may adversely affect its business and results of operations.
  • Failure to maintain optimal inventory levels could increase its operating costs or lead to unfulfilled customer orders, either of which could have an adverse effect on its business, financial condition, results of operations and prospects.
  • Its might be adversely impacted by competition and industry consolidation.
  • Changes in prescription drug pricing could adversely affect its operations and financial performance.
  • Its profit margins may decrease if trade discounts given by the company suppliers decrease in the future, which may adversely affect its financial condition, cash flows and results of operations.
  • There have been delays in compliance with certain provisions of the FEMA in relation to reporting its downstream investments.
  • The Company will not receive any proceeds from the Offer for Sale.
  • Some of its Subsidiaries have availed unsecured loans in the form of loan from their directors or inter-corporate deposits. If such unsecured loans are recalled at any time, it may adversely affect its financial condition and results of operations.
  • The company operates in a highly fragmented industry, and as a result, its may not be able to successfully expand its market share.
  • The company is dependent on the continued services and performance of its key managerial personnel, senior management and other key employees, the loss of any of whom could adversely affect its business, operating results and financial condition.
  • A majority of Directors on its Board does not have prior experience of directorship in any of companies listed on recognized stock exchanges, therefore, they will be able to provide only a limited guidance in relation to the affairs of the Company post listing.
  • Any disruption to the operation of its warehouses, or to the development of new warehousing and logistics facilities, could have an adverse effect on its business, financial condition and results of operations.
  • There are outstanding legal proceedings involving it, the company Subsidiaries, its Directors and its Promoters.
  • Its might be adversely impacted by changes or disruptions in product supply, which may lead to a loss of customers.
  • The company might be unable to successfully recruit and retain qualified employees, which may have an adverse impact on its business operations, financial position and results of operations.
  • The company is subject to operational and logistical risks and its insurance coverage may not be adequate to protect it against all potential losses to which its may be subject.
  • Its Registered Office and Corporate Office, and all of the company warehouse premises are leased by it, and any termination, non-renewal or failure to enforce, register or adequately stamp its lease agreements in connection with these premises could adversely affect its operations.
  • The company has contingent liabilities and commitments, and its financial condition could be adversely affected if these contingent liabilities materialize.
  • The Pro Forma Financial Information included in this Red Herring Prospectus is not indicative of its future financial condition or results of operations and may also not be indicative of its actual results of operations.
  • If the company is unable to obtain, protect or use its intellectual property rights, its business may be adversely affected.
  • Disruption or other changes in capital and credit markets might impede access to credit and increase borrowing costs for it and its customers and suppliers.
  • Non-compliance with existing or changes to environmental, health and safety, labor laws and other applicable regulations by it or contract manufacturers for its private label products may adversely affect the company's business, financial condition, results of operations and cash flows.
  • Its business may be adversely affected by adverse news or other incidents associated with the Indian healthcare industry.
  • The company may not be able to detect or prevent fraud or other misconduct committed by its employees or third parties or on the company platform.
  • Some of its Directors and Promoters have interests in entities engaged in businesses similar to its.
  • The company has, in the past, entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
  • There have been certain instances of delays in payment of certain statutory dues by it. Any further delays in payment of statutory dues may attract financial penalties from the respective government authorities and in turn may have a material adverse impact on its financial condition and cash flows.
  • Its Promoters, Directors, Key Management Personnel and Senior Management may have interests other than the reimbursement of expenses incurred and receipt of remuneration or benefits from the Company.
  • The significant differences between the Indian Accounting Standards (Ind AS) used to prepare its financial information and other accounting principles, such as the United States Generally Accepted Accounting Principles (U.S. GAAP) and the International Financial Reporting Standards (IFRS), may affect investors' assessments of the Company's financial condition.
  • This Red Herring Prospectus contains information from third parties and from the CRISIL Report prepared by CRISIL, which the company has commissioned and paid for purposes of confirming its understanding of the industry exclusively in connection with the Offer and any reliance on such information for making an investment decision in the Offer is subject to inherent risks.
  • Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
  • After the completion of the Offer, its Promoters will continue to collectively hold substantial shareholding in the Company.
  • The company has, in the last 12 months, issued Equity Shares at a price that could be lower than the Offer Price.
  • Benefit from healthcare products distribution market consolidation with strategic acquisitions
  • Strengthen market position through increases in customer base, wallet share and geographic penetration
  • Pursue comprehensive marketing and distribution collaborations with healthcare product manufacturers
  • Expand its product adjacencies, private label and service offerings
  • Continue to invest in and leverage its technology, scale and synergistic adjacencies to drive efficiencies and profitability

Entero Healthcare Solutions Ltd IPO Promoter Holding

Pre Issue Share Holding 77.11%
Post Issue Share Holding 52.43%

Entero Healthcare Solutions Ltd IPO Subscription Status (Bidding Detail)

The Entero Healthcare Solutions Ltd IPO is subscribed 1.53 times on Feb 13, 2024 05:00:00 PM. The public issue subscribed 1.33 times in the retail category, 2.28 times in the QIB category, and 0.22 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) 2.28 0.22 1.33 1.25 1.53

Entero Healthcare Solutions Ltd IPO Prospectus

Entero Healthcare Solutions Ltd IPO Listing Date

Listing Date 16 Feb 24
BSE Script 544122
NSE Symbol ENTERO
Listing In BSE, NSE
ISIN INE010601016
IPO Price ₹1258
Face Value ₹10

Entero Healthcare Solutions Ltd IPO Registrar

Link Intime India Pvt Ltd

Phone: +91 8108114949
Email: enterohealthcare.ipo@linkintime.co.in
Website: www.linkintime.co.in

Entero Healthcare Solutions Ltd IPO Lead Manager(s)

  1. ICICI Securities Ltd
  2. Dam Capital Advisors Ltd
  3. Jefferies India Pvt Ltd
  4. JM Financial Ltd
  5. SBI Capital Markets Ltd

FAQs on Entero Healthcare Solutions Ltd IPO

Entero Healthcare Solutions Ltd IPO, which opens for subscription from 09-Feb-2024 to 13-Feb-2024 has an issue size of ₹1600 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Entero Healthcare Solutions Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Entero Healthcare Solutions Ltd IPO Opens for subscription from 09-Feb-2024 to 13-Feb-2024.

The lot size of Entero Healthcare Solutions Ltd is 11 shares. Retail investors can subscribe to minimum 1 lot and maximum 14 lots. The minimum and maximum application value is ₹13838 and ₹193732 respectively.

Allotment date for Entero Healthcare Solutions Ltd is 14-Feb-2024 and refund of application amount (in case allotment is not received) will begin from 15-Feb-2024. If your allotment goes through, then shares will be credited in your Demat account by 15-Feb-2024.

The registrar for Entero Healthcare Solutions Ltd IPO is Link Intime India Pvt Ltd. You can check your IPO allotment status on the registrar's website.

The shares of Entero Healthcare Solutions Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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