Entero Healthcare Mops Up Rs 716.4 Crore From Anchor Investors Ahead Of IPO

Entero Healthcare Solutions Ltd. has raised Rs 716.4 crore from anchor investors, ahead of its initial public offering.

The company allotted 56.94 lakh shares at Rs 1,258 apiece to 25 anchor investors.

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%), Cramignag Portfolio (5.93%), Monetary Authority of Singapore (2.55%), Allainz 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.

Healthcare products distributor Entero Healthcare Solutions is launching its initial public offering on Friday.

The IPO is for Rs 1,600 crore, comprising fresh issue of Rs 1,000 crore and an offer for sale of 47.7 lakh shares, which would be around Rs 600 crore.

The price range for the IPO is Rs 1,195-1,258 per share, with a minimum application lot size of 11 shares.

Of the total IPO size, 75% is reserved for qualified institutional buyers, 10% for retail individual investors, and the remaining 15% is to be allotted to non-institutional investors.

The net proceeds from the issue will be utilised towards:

• Repayment/prepayment, in full or part, of certain borrowings availed by the company.

• Funding of long-term working capital requirements of the company and its subsidiaries during FY25 and FY26.

• Pursuing inorganic growth initiatives through acquisitions.

• General corporate purposes.