Entero Healthcare Solutions IPO
Entero Healthcare Solutions IPO — date, price band, lot size & details 2024
Entero Healthcare Solutions listed on 16 Feb 2024 at ₹1,228.7, 2.3% below the ₹1,258 issue price.
Entero Healthcare Solutions is a technology-driven distributor of healthcare products to pharmacies, hospitals and clinics, and among the top three in India by revenue. Its total income was Rs 3,305.72 crore in FY2023.
Stock price
Entero Healthcare Solutions is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 09 Feb 2024
- Close 13 Feb 2024
- Allotment 14 Feb 2024
- Refund/credit 15 Feb 2024
- Listing 16 Feb 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 9 to 13 Feb, 2024 |
|---|---|
| Price Band | ₹1195 – ₹1258 |
| Face Value | ₹10 |
| Lot Size | 11 Shares |
| Issue Size | ₹1600 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 119.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 13,838 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 11 shares at the ₹1258 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 11 | ₹13,838 |
| Retail (max) | 14 | 154 | ₹1,93,732 |
| S-HNI (min) | 15 | 165 | ₹2,07,570 |
| S-HNI (max) | 72 | 792 | ₹9,96,336 |
| B-HNI (min) | 73 | 803 | ₹10,10,174 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 1,783.67 crore in FY2021 to Rs 3,305.72 crore in FY2023.
- 02It turned a profit of Rs 11.64 crore in the six months to 30 September 2023.
- 03Rs 1,000.07 crore of the issue was fresh capital for working capital, acquisitions and debt.
- 04It is among the top 3 healthcare products distributors in India by revenue.
- 05Net worth grew from Rs 487.06 crore on 31 March 2021 to Rs 660.54 crore on 30 September 2023.
Risks · 5
- 01The company made losses of Rs 15.35 crore in FY2021, Rs 29.44 crore in FY2022 and Rs 11.10 crore in FY2023.
- 02With a loss in FY2023, the pre-issue P/E was negative, and the market value at Rs 1,258 was about Rs 5,471.40 crore.
- 03Distribution margins are thin, and growth needs heavy working capital, with Rs 480.00 crore of the issue planned for it.
- 04Total borrowing rose from Rs 141.70 crore on 31 March 2021 to Rs 488.68 crore on 30 September 2023.
- 05Promoters held 77.11% before the issue and 52.43% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Entero Healthcare Solutions offer document.
| Metric | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 1,505.95 | 1,308.73 | 1,125.98 | 833.79 |
| Total Income | 1,898.98 | 3,305.72 | 2,526.55 | 1,783.67 |
| Profit After Tax | 11.64 | -11.10 | -29.44 | -15.35 |
| NET Worth | 660.54 | 597.66 | 563.22 | 487.06 |
| Total Borrowing | 488.68 | 373.52 | 285.03 | 141.70 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Entero Healthcare Solutions RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Entero Healthcare Solutions IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹9.70 |
| P/E Ratio (x) | 129.75 |
| Market Cap at Offer Price (₹ Cr) | ₹1,509.60 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹1258 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹951.20 Cr of the issue is earmarked to named objects.
About the company
As per CRISIL, it also achieved the fastest scale-up among Indian healthcare products distributors, reaching Rs 25,000 million of operating income within four years of operations.
Its technology-driven platform distributes healthcare products to pharmacies, hospitals and clinics across India. Its promoters are Prabhat Agrawal, Prem Sethi and OrbiMed Asia III Mauritius.
The IPO was Rs 1,600 crore, with Rs 1,000.07 crore of fresh issue and Rs 599.93 crore of offer for sale by the promoters and other shareholders. Rs 480.00 crore was planned for working capital, Rs 237.00 crore for acquisitions and Rs 142.50 crore for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Entero Healthcare Solutions IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
SBI Capital Markets Ltd.
70 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: Kalyan Jewellers India (-15.0%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Jefferies India Private Limited
34 issues handledBest listing: Nazara Technologies (+80.7%). Weakest: Turtlemint Fintech Solutions (-10.4%).
Dam Capital Advisors Ltd
44 issues handledBest listing: Go Colors (+89.9%). Weakest: Metro Brands (-12.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Entero Healthcare Solutions?
The current Grey Market Premium is ₹15, or 1% over the issue price.
What is the Entero Healthcare Solutions IPO price band?
₹1195 to ₹1258, on a face value of ₹10.
When is the allotment?
The basis of allotment is 14 February 2024, with listing on 16 February 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
