Entero Healthcare Solutions files draft paper for IPO
₹1,000 crore and an offer for sale (OFS) of up to 8.56 million shares. Prabhat Agrawal, promoter, managing director, and CEO, will offload up to 534,082 shares; OrbiMed Asia III Mauritius Ltd, a private equity firm, will offload up to 7.5 million shares; Prem Sethi, promoter and whole-time director will offload up to 353,302 shares; and other shareholders will offload up to 170,213 shares.
According to the draft paper, the proceeds from the IPO will be used to repay borrowings, fund long-term working capital requirements, for general corporate purposes, and pursue inorganic growth initiatives through acquisitions. ICICI Securities Limited, Dam Capital Advisors Limited, Jefferies India Private Limited, JM Financial Limited and SBI Capital Markets Limited are the book-running lead managers to the issue.
Entero Healthcare Solutions Ltd was founded in 2018 by Prabhat Agrawal, and Prem Sethi, promoter, whole-time director and chief operating officer. The company helps healthcare product manufacturers by providing them with reach and accessibility to pharmacies, hospitals, and clinics.
The company has 73 warehouses across the country, last-mile delivery infrastructure, and relationships with pharmacies, hospitals, and clinics. Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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