Entero Healthcare Solutions, a healthcare products manufacturer, has successfully raised ₹716 crore from anchor investors a day ahead of its IPO subscription opening. The IPO will be open for subscription from February 9 to February 13, 2024, with a price band set at ₹1,195 to ₹1,258 per equity share. The funds raised from the IPO will be used for various purposes including long-term working capital needs, inorganic growth initiatives, and general corporate purposes.
Entero Healthcare Solutions IPO Details
Entero Healthcare Solutions IPO, worth ₹1,600 crore, consists of a fresh issue of ₹1,000 crore and an offer-for-sale (OFS) of up to 4,769,475 equity shares by the promoters and other investors, totaling ₹600 crore. Retail investors can bid for a minimum of 11 shares and in multiples thereof, with a minimum investment requirement of ₹13,838. The company’s promoters are Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Limited. The book running lead managers for the IPO are Dam Capital Advisors Ltd, Jefferies India Private Limited, JM Financial Limited, and SBI Capital Markets Limited, while Link Intime India Private Ltd serves as the registrar.
Anchor Investors and Subscription Details
Entero Healthcare Solutions received participation from several marquee investors in its anchor book, including 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. The company has allotted 56,94,753 equity shares to 25 anchor investors, raising ₹716 crore.
Use of Proceeds and Key Dates
The net proceeds from the IPO will be utilized to finance the company’s long-term working capital needs for fiscal years 2025 and 2026, pursue inorganic growth initiatives through acquisitions, and for general corporate purposes. Repayment or prepayment of certain borrowings may also be done in full or in part. The basis of allotment of shares is expected to be finalized on February 14, with refunds initiated on February 15. The shares will be credited to the demat accounts of allottees on the same day following the refund. Entero Healthcare Solutions shares are scheduled to be listed on BSE and NSE on February 16.
Frequently Asked Questions (FAQs)
Q1: What is the price band for Entero Healthcare Solutions IPO?
A1: The price band for Entero Healthcare Solutions IPO is set at ₹1,195 to ₹1,258 per equity share.
Q2: What is the total worth of Entero Healthcare Solutions IPO?
A2: Entero Healthcare Solutions IPO is worth ₹1,600 crore.
Q3: Who are the anchor investors in Entero Healthcare Solutions IPO?
A3: Anchor investors in Entero Healthcare Solutions IPO include 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.
Q4: What is the minimum investment requirement for retail investors in Entero Healthcare Solutions IPO?
A4: The minimum investment requirement for retail investors in Entero Healthcare Solutions IPO is ₹13,838.
Q5: When will the shares of Entero Healthcare Solutions be listed on the stock exchanges?
A5: The shares of Entero Healthcare Solutions are expected to be listed on BSE and NSE on February 16.