Shares of Entero Healthcare Solutions were currently trading at Rs 1,197.50 at 10:25 IST on the BSE, representing a discount of 4.81% as compared with the issue price of Rs 1,258.
The scrip was listed at Rs 1,245, exhibiting a discount of 1.03% to the issue price. So far, the stock has hit a high of 1,258 and a low of 1,186. On the BSE, over 0.67 lakh shares of the company were traded in the counter so far.The initial public offer (IPO) of Entero Healthcare Solutions was subscribed 1.53 times. The issue opened for bidding on 9 February 2024 and it closed on 13 February 2024. The price band of the IPO was fixed at Rs 1,195 to 1,258 per share.
The offer comprised fresh issue of equity shares aggregating up to Rs 1,000 crore and offer for sale of up to 47,69,475 equity shares.
Out of the proceeds of fresh issue, Rs 142.5 crore will be used for repayment and prepayment of certain borrowings, Rs 480 crore for funding of long-term working capital requirements. The remaining amount is to be used for pursuing inorganic growth initiatives and general corporate purposes.
The promoter shareholding would decline to 52.44% post-IPO from 77.11% pre-IPO.
Incorporated in 2018, Entero Healthcare Solutions is a distributor of healthcare products in India. The companys technology-driven platform provides healthcare product distribution services to pharmacies, hospitals, and clinics throughout India.
The company is among the top three healthcare products distributors in India in terms of revenue in financial year 2022. Further, it achieved the fastest scale-up of operations among healthcare products distributors in India between financial years 2019 to 2022.
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The firm reported a net profit of Rs 14.17 crore and sales of Rs 2,013.38 crore for the six months ended on 30 September 2023.
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