IPO Corner: Entero Healthcare Solutions Ltd.

Entero Healthcare Solutions Limited proposes to open its initial public offering on Friday, February 09, 2024. Bid/ Offer Closing Date will be Tuesday, February 13, 2024. Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, that is, Thursday, February 08, 2024.

The Price Band of the Offer has been fixed from Rs 1195 per Equity Share to Rs 1258 per Equity Share. Bids can be made for a minimum of 11 Equity Shares and in multiples of 11 Equity Shares thereafter.  The Equity Shares are proposed to be listed on BSE and NSE.

The Offer comprises of a fresh issue of equity shares aggregating up to Rs 10,000 Million and an offer for sale of up to 47,69,475 Equity Shares, comprising of up to 470,210 equity shares by Prabhat Agrawal, up to 313,472 equity shares by Prem Sethi, up to 38,15,580  equity shares by Orbimed Asia Iii Mauritius Limited, up to 4,401 equity shares by Chethan M.P., up to 1,320 equity shares by Deepesh T. Gala, up to 8,802 equity shares by Hemant Jose Barros, up to 4,401 equity shares by Hemant Jaggi, up to 2,201 equity shares by K.R.V.S. Varaprasad, up to 39,610 equity shares by K.E. Prakash, up to 1,320 equity shares by Lavu Sahadev, up to 12,103 equity shares by Manoj K Sanghani, up to 8,802 equity shares by Millennium Medicare Private Limited, up to 2,201 equity shares by K. Naveen Kumar Gupta, up to 42,250 equity shares by Novacare Drug Specialities Private Limited, up to 15,074 equity shares by Petros Diamantides, up to 13,203 equity shares by Prashanth Ravindrakumar, up to 1,102 equity shares by Suraj Prakash Atreja, up to 1,320 equity shares by Venkata Ramana Siva Kumar Yanamadala and up to 12,103 equity shares by Vikramaditya Ambre.

The Company intends to use the proceeds of the Fresh Issue utilize towards funding the repayment/prepayment, in full or part, of certain borrowings availed of by the Company, towards funding of long-term working capital requirements of the Company and its Subsidiaries during Fiscals 2025 and 2026, pursuing inorganic growth initiatives through acquisitions as well as for general corporate purposes.