IPO Details
Bidding Dates
09 Feb '24 - 13 Feb '24
Minimum Investment
₹13,838 / 1 Lots ( 11 Shares )
Price Range
₹1195 - ₹1258
Maximum Investment
₹193,732 / 14 Lots ( 154 Shares )
Retail Discount
Not Applicable
Issue Size
₹1,600.00 Cr
Investor category and sub category
Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Feb 9, 2024
Closing Date
Feb 13, 2024
Allotment Date
Feb 14, 2024
Initiation of Refunds
Feb 15, 2024
Credit of Shares to Demat
Feb 15, 2024
Listing Date
Feb 16, 2024
Cut-off time for UPI mandate confirmation
Feb 13, 2024
IPO Subscription Details
| Date | QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|---|
Day 1Feb 9, 2024 |
0.00x | 0.04x | 0.32x | 0.36x | 0.09x |
Day 2Feb 12, 2024 |
0.00x | 0.09x | 0.61x | 0.83x | 0.18x |
Day 3Feb 13, 2024 |
2.29x | 0.22x | 0.89x | 1.27x | 1.42x |
Entero Healthcare Solutions IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyers | 2.29 |
| Non-Institutional Buyers | 0.22 |
| Retail Investors | 0.89 |
| Employees | 1.27 |
| Total | 1.42 |
About Entero Healthcare Solutions Ltd
Founded in 2018, Entero Healthcare Solutions was among the top three healthcare products distributors in India in terms of revenue in FY 2022. The company’s vision is to create an organised, pan-India, technology-driven healthcare products distribution platform, adding value to the entire healthcare ecosystem.
The company provides healthcare product manufacturers with reach and accessibility to pharmacies, hospitals and clinics through their distribution platform. As of March 31, 2023, they have 73 warehouses located across the country, along with a last-mile delivery infrastructure and robust relationships with pharmacies, hospitals and clinics. This ecosystem created by Entero enables their clients to make their products available to a wide range of customers. Similarly, the pharmacies, hospitals and clinics that they service get access to a wide range of healthcare products from the manufacturers.
The company presently has supply relationships with over 1,900 healthcare product manufacturers. This gives them access to over 64,500 product stock-keeping units. In FY 2023, they catered to over 81,400 retail customers and over 3,400 hospital customers.
In 2020, India’s expenditure on healthcare was 3% of its GDP, which is much lower than many developing countries. As the per capita GDP of the country increases, this number is expected to increase. This will help expand the overall demand for Enterio’s products in the coming years.
Entero Healthcare Solutions Ltd IPO Details
Entero Healthcare Solutions Ltd IPO Date
The dates for bidding for the Entero Healthcare Solutions IPO are between February 9, 2024, to February 13, 2024.
Entero Healthcare Solutions Ltd IPO Price Band
Entero Healthcare Solutions is a book-built IPO with a price range of ₹1,195 to ₹1,258 per share.
Entero Healthcare Solutions Ltd IPO Lot Size
The Entero Healthcare Solutions Ltd IPO lot size is 11 shares per lot.
Entero Healthcare Solutions Ltd IPO Objectives
The net proceeds of the fresh issue are proposed to be utilised in the following manner:
- Repayment of certain borrowings availed of by the company and its subsidiaries.
- Funding long-term working capital requirements.
- Pursuing inorganic growth initiatives through acquisitions.
- General corporate purposes.
Peer Details
As per DRHP, MedPlus Health Services Limited is a listed peer of the company.
How to Check the Allotment Status of the Entero Healthcare Solutions Ltd IPO?
A: Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you applied for.
- Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Contact Details of Entero Healthcare Solutions Ltd
Registered office: Plot No. I-35, Building - B, Industrial Area Phase - I, 13/7 Mathura Road, Faridabad 121 003, Haryana, India
Phone: +91 22-69019100
E-mail: jayant.prakash@enterohealthcare.com
Company Financials
| Particulars | Year Ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|
| Total Income | 33,057.21 | 25,265.48 | 17,836.68 |
| Restated Profit (Loss) for the Year | 111.04 | 294.39 | 153.54 |
| Return on Capital Employed | 6.05% | 1.49% | 1.88% |
| Net Working Capital Days | 63 | 69 | 74 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 211.46 | 141.94 | 108.40 |
Know before investing
Strengths
3-
The Indian pharmaceutical distribution market remains very fragmented, with traditional local distributors having a market share of 90% to 92%. Therefore, the opportunity for new but organised players to gain market share through economies of scale is big.
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Despite starting only in 2018, the company has achieved the fastest scale-up of operations among healthcare product distributors in India. They have been able to develop a technology-driven, financially and geographically scalable business model, with a focus on network expansion and cost efficiency.
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Their customer and supplier base are highly diversified. This not only reduces their risk of concentration of revenues or supplies but also gives them a better ability to negotiate prices.
Risks
3-
Some of the newly established warehousing facilities may not generate the efficiencies as anticipated, adversely affecting business. In the past, they have scaled down on warehousing space in certain locations due to slower-than-anticipated growth in business.
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Their business may require a significant amount of working capital, and a major portion of our working capital is utilised towards inventories.
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In recent times, they have been experiencing losses as well as negative cash flows in the business.
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Entero Healthcare Solutions Ltd IPO FAQs
Entero Healthcare Solutions’ IPO is a book-built IPO. The dates for the IPO are between February 9, 2024, and February 13, 2024.
The shares of Entero Healthcare Solutions IPO will be credited on February 15, 2024.
The IPO subscription window is between February 9, 2024 to February 13, 2024.
The lot size for the IPO is 11 shares per lot.
Entero Healthcare Solutions Ltd IPO will be listed on the NSE and the BSE. The listing date is February 16, 2024.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the individual order details page of the IPO that you applied for.
- Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The date of listing has not been announced yet.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The listing date is February 16, 2024.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
