Entero Healthcare Solutions (MAINBOARD)
February 9, 2024 – February 13, 2024
| Price | ₹1195 - ₹1258 |
| Premium | ₹2 |
|---|---|
| Lot size | 11 |
| Allotment | Feb 14, 2024 |
| Listing | Feb 16, 2024 |
Entero Healthcare Solutions Limited
Plot No. I-35, Building - B
Industrial Area Phase - I
13/7 Mathura Road, Faridabad 121 003
Phone: +91 22-69019100
Email: jayant.prakash@enterohealthcare.com
Website: https://www.enterohealthcare.com/
Last Updated as on 13-Feb-2024 17:54:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 3796503 | 8686172 | 2.29 |
| HNIs | 1898251 | 426756 | 0.22 |
| HNIs (10+L) | 1265500 | 213895 | 0.17 |
| HNIs (2-10L) | 632751 | 212861 | 0.34 |
| Retail | 1265500 | 1743885 | 1.38 |
| Employees | 70237 | 93071 | 1.33 |
| Total | 7030491 | 10949884 | 1.56 |
| Total Application : 129,800 | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹3.87 | @8% ₹4.42 | @9% ₹4.97 | @10% ₹5.52 | @11% ₹6.08 | @12% ₹6.63 |
| Big HNI (10+L) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10+L) costing for every 1 lot allotment is ₹68 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 11 | 13838 | 115046 |
| sHNI | 15 | 165 | 207570 | 3835 |
| bHNI | 73 | 803 | 1010174 | 7670 |
Incorporated in 2018, Entero Healthcare Solutions Limited is a distributor of healthcare products in India. The company's technology-driven platform provides healthcare product distribution services to pharmacies, hospitals, and clinics throughout India.
During the fiscal years 2021, 2022, and 2023, the company served over 39,500, 64,200, and 81,400 retail customers, respectively. Additionally, they also served over 1,600, 2,500, and 3,400 hospital customers during the same period.
Entero Healthcare Solutions has relationships with over 1,900 healthcare product manufacturers, giving them access to over 64,500 product stock-keeping units as of March 31, 2023.
The company has 73 warehouses in 37 cities across 19 states and union territories, and its customer base includes over 81,400 pharmacies and 3,400 hospitals in 495 districts as of March 31, 2023. This provides excellent access to healthcare product manufacturers.
As of 31st March, 2023, the company employs a total of 3014 people in various departments.
Entero Healthcare Solutions IPO Details
| Issue Size | 12,718,600 shares (aggregating up to ₹1,600.00 Cr) |
| Fresh Issue | 7,949,125 shares (aggregating up to ₹1,000.00 Cr) |
| Offer for Sale | 4,769,475 shares of ₹10 (aggregating up to ₹600.00 Cr) |
| Employee Discount | Rs 119 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 16,066,886 |
| Share holding post issue | 24,016,011 |
Entero Healthcare Solutions IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
Key Performance Indicator
| KPI | 2023 | 2022 | 2021 |
|---|---|---|---|
| ROE | -2.66% | -7.35% | -4.23% |
| ROCE | 6.05% | 1.49% | 1.88% |
| Debt/Equity | 0.45 | 0.32 | 0.12 |
| RoNW | -1.86% | -5.23% | -3.15% |
| P/E | 129.75 | ||
| EPS | 9.7 |
Company Financials
Entero Healthcare Solutions Limited Financial Information (Restated Consolidated)
Entero Healthcare Solutions Limited's revenue increased by 30.84% and profit after tax (PAT) rose by 62.28% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | Mar 2023 | Mar 2022 | Mar 2021 |
| Assets | 1,308.73 | 1,125.98 | 833.79 |
| Revenue | 3,305.72 | 2,526.55 | 1,783.67 |
| Profit | -11.10 | -29.44 | -15.35 |
| Net Worth | 597.66 | 563.22 | 487.06 |
| Borrowing | 373.52 | 285.03 | 141.70 |
| Amount in ₹ Crore | |||
Strengths
· Leverages a proprietary technology platform to enhance operational efficiency and customer service.
· Demonstrated track record of inorganic expansion, increasing geographic reach, revenues, and scale.
· Offers a differentiated business model with comprehensive and integrated commercial and supply chain solutions.
· Supported by an experienced Promoters and professional senior management team.
· The company is one of the largest and fastest-growing healthcare product distribution platforms in the country, positioned to capitalize on market consolidation in the fragmented healthcare products distribution market.
Risks
· Historical loss reporting indicates potential financial instability.
· High working capital requirements may strain financial resources and liquidity.
· Vulnerable to adverse effects of competition and industry consolidation on business operations.
· Negative cash flows challenge financial liquidity and sustainability.
· Exposure to fluctuations in prescription drug pricing poses financial risks.
· Operational and logistical risks may impact business continuity and efficiency.