Entero Healthcare Solutions Ltd IPO
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Entero Healthcare Solutions Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 127.19 L | ₹ 47.69 L | ₹ 12.66 L | ₹ 274.06 L | BSE | ₹ 1600 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 09 Feb, 24 | 13 Feb, 24 | 11 | ₹ 13,145 | Book Building | 16 Feb, 24 |
Entero Healthcare Solutions Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Trading |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 0.92x | 9491256 | 8686172 |
| NII | 0.22x | 1898251 | 426756 |
| Retail | 1.38x | 1265501 | 1743885 |
| Employee | 1.46x | 63593 | 93071 |
| Total | 0.86x | 12718601 | 10949884 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Entero Healthcare Solutions Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 33.11 | -2.65 | -32.13 |
| EBITDA | 41.86 | 7.15 | -23.42 |
| PAT | 38.44 | -12.46 | -40.85 |
| Total Assets | 1,675.16 | 673.00 | 557.27 |
| Share Capital | 43.49 | 667.73 | 622.84 |
| Total Borrowings | 721.82 | 492.50 | 380.57 |
| Operating Activities (Net Cash) | 47.19 | -2.66 | -32.14 |
| Investing Activities (Net Cash) | 40.54 | 40.64 | 39.38 |
| Financing Activities (Net Cash) | 721.82 | 492.50 | 380.57 |
| Net Cashflow | 792.35 | 77.19 | 88.24 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Entero Healthcare Solutions Ltd
Entero Healthcare Solutions Limited was incorporated as Entero Healthcare Solutions Private Limited as a private limited company under the Companies Act, 2013 pursuant to a certificate of incorporation dated January 10, 2018, issued by the Registrar of Companies, Central Registration Centre, under the administrative control of the Registrar of Companies, Delhi and Haryana at New Delhi. Thereafter, the Company was converted into a public limited company pursuant to a special resolution passed in the annual general meeting of its Shareholders held on August 7, 2023, and consequently, the name of the Company was changed to `Entero Healthcare Solutions Limited', and a fresh certificate of incorporation dated August 25, 2023, was issued by the RoC.
The target addressable market for pharmaceutical distributors in India is valued at Rs. 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 pharmaceutical products in India is extremely fragmented with approximately 65,000 distributors, 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.
The Company's primary line of business is in the distribution of healthcare products to retail pharmacies, hospitals and healthcare clinics in India. The Company adds value to the healthcare product manufacturers that work with it by providing them reach and accessibility to pharmacies, hospitals and clinics through its integrated and technology driven, pan-India healthcare products distribution platform. As of September 30, 2023, its 77 warehouses located across the country, last-mile delivery infrastructure and relationships with pharmacies, hospitals and clinics enables healthcare product manufacturers to make their products available to a wide range of customers.
Peer Comparison:
- Medplus Health Services Ltd
Entero Healthcare Solutions Ltd IPO Key Points
Strengths
- The Company operates in the large and highly fragmented Indian healthcare products distribution market and expect to benefit from market consolidation.
- The Company is one of India's largest and fastest growing healthcare products distribution platforms.
- The Company has a track record of inorganic expansion and integration to grow its geographic reach, revenues and scale.
- The Company has a differentiated business model offering comprehensive and integrated commercial and supply chain solutions.
- The Company has a proprietary technology platform with integrated business intelligence tools and solutions.
Risk
- Since its inception, the company has completed a number of acquisitions of distributors in India to expand its business and increase its customer base, and may continue to complete more acquisitions in the future. However, its may be unable to realize the anticipated benefits of past or future acquisitions successfully. Further, if the company is unable to identify expansion opportunities or experience delays or other problems in implementing our strategy of inorganic growth, its business, financial condition, results of operations, cash flows and prospects may be adversely affected.
- The company has experienced negative cash flows from operating, investing and financing activities in the past and may continue to do so in the future.
- The company may incur losses and its reputation may be adversely affected by the return of the company products by customers, arising from the distribution of expired, unsafe, defective, ineffective or counterfeit products, and product spoilage, breakage and damage during transportation or in storage. Its may also be subject to product liability claims.
Strategy
- Benefit from healthcare products distribution market consolidation with strategic acquisitions
- Strengthen market position through increases in customer base, wallet share and geographic penetration
- Pursue comprehensive marketing and distribution collaborations with healthcare product manufacturers
- Expand its product adjacencies, private label and service offerings
- Continue to invest in and leverage its technology, scale and synergistic adjacencies to drive efficiencies and profitability
- The Company operates in the large and highly fragmented Indian healthcare products distribution market and expect to benefit from market consolidation.
- The Company is one of India's largest and fastest growing healthcare products distribution platforms.
- The Company has a track record of inorganic expansion and integration to grow its geographic reach, revenues and scale.
- The Company has a differentiated business model offering comprehensive and integrated commercial and supply chain solutions.
- The Company has a proprietary technology platform with integrated business intelligence tools and solutions.
How To Apply for Entero Healthcare Solutions Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.