 "Investors subscribe Entero Healthcare IPO 1.53 times on final day of offer")
The initial share-sale of Entero Healthcare Solutions got subscribed 1.53 times on the final day of subscription on Tuesday.
The Rs 1,600 crore-Initial Public Offering (IPO) got bids for 1,09,49,884 shares against 71,50,100 shares on offer, as per NSE data.
The category for Qualified Institutional Buyers (QIBs) got subscribed 2.28 times, while the quota for Retail Individual Investors (RIIs) received 1.33 times subscription.
The portion for Non Institutional Investors received 22 per cent subscription.
The IPO was a combination of fresh issue of up to Rs 1,000 crore and an Offer For Sale (OFS) of up to 47,69,475 equity shares, aggregating up to Rs 600 crore at the upper end of the price band.
Price range for the offer was Rs 1,195-1,258 per share.
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The healthcare products distributor collected Rs 716 crore from anchor investors on February 8.
Proceeds from the fresh issue will be used towards payment of debt, funding working capital requirements, pursuing inorganic growth initiatives through acquisitions and for general corporate purposes.
ICICI Securities, DAM Capital Advisors, Jefferies India, JM Financial, and SBI Capital Markets were the managers to the offer.
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