Entero Healthcare Solutions is into Healthcare & Pharmaceutical Healthcare Products Distribution and is looking raise funds through Fresh Issue and Offer for Sale
Entero Healthcare Solutions IPO: Entero Healthcare Solutions Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.
Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 1000 crores and an Offer for Sale up to 8,557,597 Equity Shares.. ICICI Securities, DAM Capital Advisors, Jefferies India, JM Financial, SBI Capital Markets have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 1,000 Crs and offer-for-sale (OFS) of up to 8,557,597 equity shares by Prabhat Agrawal, OrbiMed Asia III Mauritius Limited, Prem Sethi, Chethan M.P., Deepesh T. Gala , Hemant Jose Barros, Hemant Jaggi, K.R.V.S. Varaprasad, K.E. Prakash and Lavu Sahadev who will offload Up to 534,082Equity Shares, Up to 7,500,000Equity Shares, Up to 353,302Equity Shares, Up to 4,401Equity Shares, Up to 1,320Equity Shares, Up to 8,802Equity Shares, Up to 4,401Equity Shares, Up to 2,201Equity Shares, Up to 39,610Equity Shares and Up to 1,320Equity Shares respectively...
Objects of the issue:
1) Repayment / prepayment of borrowings amounting to Rs. 123.67 cr', 2) Funding the long term working capital requirements amounting to Rs. 600 cr., and 3) General corporate purposes.
Promoters of Entero Healthcare Solutions are Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Limited and holds 76.54% stake in the company.
About Company:
Entero Healthcare established in 2018 and its primary line of business is distribution of healthcare products. It markets healthcare products to retail pharmacies, hospitals and healthcare clinics in India. Company add value to the healthcare product manufacturers by providing them reach and accessibility to pharmacies, hospitals and clinics through integrated and technology driven, pan-India healthcare products distribution platform. As of March 31, 2023, company has 73 warehouses located across the country for last mile delivery.
About Industry:
The target addressable market for pharmaceutical distributors in India is valued at ₹2.7 trillion in the Financial Year 2023 and is expected to grow at 10% to 11% CAGR from the Financial Year 2023 to the Financial Year 2028. The distribution of pharmaceuticalproducts in India is extremely fragmented with approximately 65,000distributors,as of March 31, 2023,that generally service limited local areas only, unlike developed markets where large nationwide distributors occupy a dominant market position.In the Indian pharmaceutical distribution market, traditional local distributors have a 90-92% market share while large/national distributors have a 8-10% market share.(Source: CRISIL Report)
Source: SEBI, BSE, NSE, DRHP, Entero Healthcare Solutions, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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