Entero Healthcare Solutions Shares End At 8.19% Discount To IPO Price

Shares of Entero Healthcare Solutions Ltd. listed at Rs 1,228.70 apiece on the NSE, a discount of 2.33% to their IPO price of Rs 1,258 apiece.

On the Bombay Stock Exchange, the stock debuted at Rs 1,245, a 1.03% discount.

The shares ended at a discount of 8.19% to the IPO price, and it declined 7.23% from its listing price to end at Rs 1,155 apiece.

The Rs 1,600 crore IPO was subscribed 1.53 times on its third and final day. Bids were led by institutional investors (2.28 times), non-institutional investors (0.22 times), and retail investors (1.33 times) and employee reserved (1.25 times).

The company has raised Rs 716.4 crore from anchor investors. It has allocated 56.9 lakh equity shares to 25 anchor investors at Rs 1,258 apiece, which is also the upper end of the price band. Capital Group-backed Smallcap World Fund got the highest allocation of 23.19%, while the Government of Singapore secured 20.72%. Pioneer Investment Fund (6%), Carmignac Portfolio (5.93%), Monetary Authority of Singapore (2.55%), Allianz Global (4.18%) and Jupiter India (4.18%) are among the other marquee investors in the pre-IPO round fundraising.

The leading book managers for the anchor round were ICICI Securities Ltd., DAM Capital Advisers Ltd., Jefferies India Pvt., JM Financial Ltd., and SBI Capital Markets Ltd.

Incorporated in 2018, the company was among the top three healthcare product distributors in India in terms of revenue in fiscal 2022, according to Crisil.

Entero provides healthcare product manufacturers access to a large number of pharmacies, hospitals and clinics throughout the country, through a single organised, pan-India, technology-driven and integrated healthcare products distribution platform and by setting up warehouses and logistics services.

It has a nationwide presence of 77 distribution warehouses across 38 cities, and a customer base of over 73,700 pharmacies and 2,800 hospitals spread across 501 districts as of Sept. 30, 2023.

For the pharmacies, hospitals and clinics associated with the company, the platform acts as a one-stop solution for their procurement needs.