Verify the GMP and important information about Entero Healthcare Solutions’ IPO before subscribing. On February 9, Entero Healthcare Solutions is scheduled to commence its initial public offering (IPO), providing investors with a chance to explore the healthcare products distribution industry.
The closing date of the IPO is February 13, 2024. The initial public offering (IPO) price range is Rs 1195 to Rs 1258 per share at face value of Rs 10.
The company wants to raise Rs 1,600.00 crores in total. This consists of a new share offering of 0.79 crore, valued at Rs 1,000 crore, and a selling offer of 0.48 crore, valued at Rs 600 crore.
Important information regarding the IPO
The initial public offering (IPO) of Entero Healthcare Solutions has set aside a minimum of 75% of its shares for qualified institutional buyers (QIB), a maximum of 15% for non-institutional institutional investors (NII), and a maximum of 10% for retail investors.
Employees who qualify and bid in the employee reservation component will receive a discount of Rs 119 per equity share. The employee portion consists of reserved equity shares up to Rs 8 crore.
OrbiMed Asia III Mauritius Limited, Prabhat Agrawal, and Prem Sethi are the promoters selling the shares. OrbiMed Asia III Mauritius Limited is the largest stakeholder to sell, dumping 3,815,580 equity shares.
Prem Sethi and Prabhat Agrawal want to sell 313,472 and 470,210 equity shares, respectively.
Two other shareholders are selling their shares: KE Prakash is selling up to 39,610 equity shares, and Novacare Drug Specialities Private Limited is selling up to 42,250 equity shares.
The net proceeds from the new offering will be used by the company to fund the following objectives: general corporate purposes, inorganic growth strategies through acquisitions, and the financing of the company’s long-term working capital needs for Fiscal Years 2025 and 2026.
The corporation may choose to repay all or a portion of the loans it has taken out in advance.
The IPO’s allotment is anticipated to be finalized on Wednesday, February 14, 2024, and it is tentatively scheduled to go live on the BSE and NSE on Friday, February 16, 2024.
A minimum investment of Rs 3,838 is required from retail investors, and the minimum lot size for an application is 11 shares.
Qualified institutional buyers (QIB) must bid for a minimum of 73 lots (803 shares), totaling Rs 1,010,174, while non-institutional investors (NII) must bid for at least 15 lots (165 shares), or Rs 207,570.
ICICI Securities Limited, Dam Capital Advisors Ltd, Jefferies India Private Limited, JM Financial Limited, and SBI Capital Markets Limited are among the book running lead managers for the initial public offering.
Most recent GMP value
The Grey Market Premium (GMP), which represents market sentiment and a possible listing price, is another factor that investors should take into account.
As of February 8, 2024, at 05:31 PM, the most recent Grey Market Premium (GMP) for the Entero Healthcare Solutions IPO is Rs 118.
The projected listing price for the IPO is Rs 1376 (cap price + today’s GMP), with the price band set at Rs 1258.00. This suggests a 9.38% predicted percentage gain or loss per share.
