Entero Healthcare Solutions IPO: Key Details and GMP Ahead of Subscription

Healthcare products distributor Entero Healthcare Solutions is set to launch its initial public offering (IPO) this week. The IPO will open for subscription on February 9, 2024, and close on February 13, 2024. Entero Healthcare Solutions IPO price band is set at ₹1195 to ₹1258 per share of the face value of ₹10.

Entero Healthcare Solutions IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. The employee portion is also reserved with a discount for eligible employees bidding in the employee reservation portion.

The promoters selling shareholders are Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Limited. The biggest shareholder to sell is OrbiMed Asia III Mauritius Limited, offloading 3,815,580 equity shares. Other shareholders include Prabhat Agrawal and Prem Sethi, along with Novacare Drug Specialities Private Limited and K.E. Prakash.

Entero Healthcare Solutions intends to use the net proceeds from the fresh offering to finance long-term working capital needs, pursue inorganic growth initiatives through acquisitions, and for general corporate purposes. The company plans to repay or prepay certain borrowings.

The IPO subscription is scheduled for February 9, 2024, to February 13, 2024. The price band for the IPO is ₹1,195 to ₹1,258 per equity share. It is a book built issue of ₹1,600.00 crores, with a minimum lot size of 11 shares.

The IPO promoters are Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Limited. The allotment for the Entero Healthcare Solutions IPO is expected to be finalized on February 14, 2024, and it is set to list on BSE, NSE on February 16, 2024.

The book running lead managers are ICICI Securities Limited, Dam Capital Advisors Ltd, Jefferies India Private Limited, JM Financial Limited, and SBI Capital Markets Limited. The registrar for the IPO is Link Intime India Private Ltd. In the grey market, the shares of Entero Healthcare Solutions IPO are currently available at a premium of ₹150.