Entero Healthcare Solutions has secured ₹716 crore from anchor investors just a day before its IPO subscription commences.
Entero Healthcare Solutions IPO Details
The Entero Healthcare Solutions IPO will be open for subscription from Friday, February 9, 2024, until February 13, 2024. The price band for the IPO of the healthcare products manufacturer is set between ₹1,195 to ₹1,258 per equity share with a face value of ₹10.
Anchor Investor Participation
The company allotted 56,94,753 Equity Shares to 25 anchor investors, generating ₹716 crores at the upper price band of ₹1,258 per equity share.
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Marquee Investors
Participation in the anchor book included prominent investors such as the Capital Group, GIC, TT Emerging Markets Unconstrained Fund, Premji, Carmignac Portfolio, Amundi Funds New Silk Road, Amundi Funds Asia Equity Concentrated, Bajaj Allianz Life Insurance Company Ltd., SBI General Insurance Limited, Jupiter India Fund, among others.
IPO Structure
The Entero Healthcare Solutions IPO, valued at ₹1,600 crore, comprises a fresh issue of ₹1,000 crore and an offer-for-sale (OFS) of up to 4,769,475 equity shares by promoters and other investors, totaling ₹600 crore.
Investor Guidelines
Investors can bid for a minimum of 11 shares and in multiples thereof, with a minimum investment requirement for retail investors set at ₹13,838. The promoters of the company include Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Limited.
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Book Running Lead Managers and Registrar
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. Link Intime India Private Ltd is appointed as the registrar for the Entero Healthcare Solutions IPO.
Utilization of Proceeds
The company plans to utilize the net proceeds from the fresh offering for financing long-term working capital needs for Fiscal Years 2025 and 2026, pursuing inorganic growth initiatives through acquisitions, and general corporate purposes. Repayment or prepayment of certain borrowings may also be considered.
IPO Timeline
The basis of allotment of shares for the Entero Healthcare Solutions IPO is anticipated to be finalized on Wednesday, February 14. Refunds will be initiated on Thursday, February 15, with shares credited to the demat accounts of allottees on the same day. The listing of Entero Healthcare Solutions shares is expected on BSE and NSE on Friday, February 16.
