February 16, 2024
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Entero Healthcare Solutions IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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Table of Contents
- GMP
- Reviews
- Subscription
- Allotment
Post Listing Review of Entero Healthcare Solutions IPO
On 16th February, the scrip is listed at Rs.1228.70, compared to the Issue-price of Rs.1258, at a premium of -2.33 %. The listing has been much below the expectations of grey market players. Total disappointment for the investors.
What are the promoters of Entero Healthcare Solutions IPO?
The promoters of Entero Healthcare Solutions are Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Limited.
What are the Objects of Entero Healthcare Solutions IPO?
The Offer comprises a Fresh Issue by the Company and an Offer for Sale by the Selling Shareholders.
The Company proposes to utilise the Net Proceeds towards funding the following objects:
Repayment/prepayment, in full or part, of certain borrowings availed of by the company and its Subsidiaries.
Funding the long term working capital requirements.
Pursuing inorganic growth initiatives through acquisitions.
General corporate purposes.
What is the business of Entero Healthcare Solutions?
Entero Healthcare Solutions is amongst the top three healthcare products distributors in India in terms of revenue in Financial Year 2022, and reported an operating income of Rs 25,220.65 million in Financial Year 2022. Further, it also achieved the fastest scale-up of operations among healthcare products distributors in India (between Financial Year 2019 to Financial Year 2022) and reached Rs. 25,000 million of operating income within four years of operations.
It adds value to the healthcare product manufacturers that work with it by providing them reach and accessibility to pharmacies, hospitals and clinics through its integrated and technology driven, pan-India healthcare products distribution platform.
As of March 31, 2023, its 73 warehouses located across the country, last-mile delivery infrastructure and relationships with pharmacies, hospitals and clinics enables healthcare product manufacturers to make their products available to a wide range of customers.
Similarly, the pharmacies, hospitals and clinics that it services get access to a wide range of healthcare products through its distribution infrastructure and its healthcare product manufacturer relationships. During the Financial Years 2021, 2022 and 2023, it catered to over 39,500, 64,200 and 81,400 retail customers, respectively, and over 1,600, 2,500 and 3,400 hospital customers, respectively. Further, as of March 31, 2023, it has supply relationships with over 1,900 healthcare product manufacturers that gives us access to over 64,500 product stock keeping units.
For more information, click https://www.enterohealthcare.com/
Entero Healthcare Solutions IPO GMP, Particulars & Guidance
| Entero Healthcare Solutions IPO Details | |
| IPO opens on | 9 February, 2024 |
| IPO closes on | 13 ebruary, 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 12718600 Sh /Rs 1600 Cr |
| * Fresh Issue | 7949125 Sh /Rs 1000 Cr |
| * Offer for Sale | 4769475 Sh /Rs 600 Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 1195-1258 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 119 per share |
| Retail Lot Size | 11 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Entero Healthcare Solutions? | Shares | Rs. in Cr |
| QIB (75 %) | 9538950 | 1200 |
| NII (15 %) | 1907790 | 240 |
| RII (10 %) | 1271860 | 160 |
| Employees | – | – |
| Total Shares | 12718600 | 1600.00 |
| Retail portion will be oversubscribed by | 115624 Forms. | |
| How to apply in Entero Healthcare Solutions IPO? | Amount Rs. | |
| Min Retail Application | 11 Sh | 13838 |
| Max Retail Application | 154 Sh | 193732 |
| Small HNI (Min) application | 165 Sh | 207750 |
| Small HNI (Max) application | 792 Sh | 996336 |
| Big HNI Application | 803 Sh | 1010174 |
| What is the timetable of Entero Healthcare Solutions IPO? | |
| IPO opens on | 9 February, 2024 |
| IPO Closes on | 13 February, 2024 |
| IPO Allotment on | 14 February, 2024 |
| Unblocking of ASBA | 15 February, 2024 |
| Credit of Shares | 15 February, 2024 |
| Listing on | 16 February, 2024 |
| Registered Office of Entero Healthcare Solutions | |
| Entero Healthcare Solutions Limited Plot No. I-35, Building – B Industrial Area Phase – I 13/7 Mathura Road, Faridabad 121 003 |
|
| Who are the Lead Managers of Entero Healthcare Solutions IPO? ICICI Securities Limited Dam Capital Advisors Ltd Jefferies India Private Ltd Jm Financial Ltd SBI Capital Markets Ltd |
|
| Registrar to IPO | |
| Link Intime India Private Limited |
| Entero Healthcare Solutions IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 1784 | -15 | -5.29 | -3.15 |
| 2021-22 | 2527 | -29 | -9.22 | -5.23 |
| 2022-23 | 3306 | -11 | -3.10 | -1.86 |
| Book Value of the Share on 31.03.2023 | Rs. | 157.08 | ||
| BV of the Share after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 1258 | ||
| Entero Healthcare Solutions IPO Ratio Analysis |
|
| Price /EPS | ? |
| Price/Book Value Ratio | 8.01 |
| Price/BV after IPO | ? |
How Entero Healthcare Solutions IPO compares with the Peers?
Peer Comparison.
| As on date of DRHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| Entero Healthcare | 10 | 3306 | NA |
| Medplus Health Services | 2 | 4604 | 216 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Entero Healthcare Solutions IPO Guidance* by Paresh Gordhandas, CA & Research Analyst.
Entero Healthcare Solutions is amongst the top three healthcare products distributors in India in terms of revenue in Financial Year 2022, and reported an operating income of Rs 25,220.65 million in Financial Year 2022. Further, it also achieved the fastest scale-up of operations among healthcare products distributors in India (between Financial Year 2019 to Financial Year 2022) and reached Rs. 25,000 million of operating income within four years of operations.
As of March 31, 2023, its 73 warehouses located across the country, last-mile delivery infrastructure and relationships with pharmacies, hospitals and clinics. During the Financial Years 2023, it catered to over 81,400 retail customers and over 3,400 hospital customers. In India, the Pharmacuetical Distribution market is very vast and expanding at 10to 12% growth rate p.a.
The size of the IPO Rs. 1600 Cr. is not quite large. Moreover jsut Rs. 160 cr shares have been reserved for the retail investors and Rs. 240 Cr for HNI investors. So both categories are expected to show huge oversubscriptions.
The company earned profits at the operating levels during last 3 years but incurred losses at the net level. However looking to the huge investments made for expanding the infrastructure and distribution network and also positive profits in the current year, the IPO appears to be attractive. Apply and if you get allotment, retain for 12 months, so that you get good returns.
* Disclosure: The company which owns this website has received banner advertisement related to this IPO.
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