Entero Healthcare IPO fully subscribed on final day. Check subscription, GMP and other details
In the unlisted market, the company's shares are trading with a marginal premium of Rs 10.
Entero Healthcare IPO price band
The price band for the public offer has been fixed from Rs 1,195-1258 per equity share. Bids can be made for a minimum of 11 shares and in multiples thereafter.
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Entero Healthcare IPO review
Analysts advised investors to subscribe to the IPO over the strong financial track record, improvement in operational performance, and optimistic industry growth outlook.
«The issue is valued at a P/E of 111.2x on the upper price band based on FY24E earnings, which we feel is fairly valued in comparison to its peers. We, therefore, recommend subscribing to the issue,» said BP Equities.
Other details
The IPO comprises a fresh equity issue of Rs 1,000 crore and an offer for sale of up to 47.69 lakh shares. Under the OFS, Prabhat Agrawal, Prem Sethi, Orbimed Asia Iii Mauritius, Chethan MP, and Deepesh T Gala, among others, will offload shares.
The company intends to use the proceeds towards repayment of debt, long-term working capital requirements, funding subsidiaries, and pursuing inorganic growth initiatives through acquisitions as well as for general corporate purposes.
The offer is being made through the book-building process, where 75% of the issue is reserved for qualified institutional buyers, 10% for non-institutional investors, and the rest 10% for retail investors.
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