Entero Healthcare IPO subscribed 1.53 times on last day, QIBs lead the bidding
Upstox
2 min read • Updated: February 29, 2024, 3:08 PM
Summary
The IPO gained momentum after starting with only a 9% subscription on day 1. The qualified institutional buyers (QIB) segment led the bidding process with a subscription of 2.28 times, while the retail segment received bids 1.33 times.
The Entero Healthcare Solutions IPO was fully subscribed on the final day despite a slow start during the subscription period from 9th February to 13th February
On the last day of subscription, Entero Healthcare Solutions' IPO was oversubscribed 1.53 times. As per the National Stock Exchange (NSE) data, the company received bids for 1.09 crore shares against the 71.5 lakh shares on offer.
The IPO gained momentum after starting with only a 9% subscription on day 1. The qualified institutional buyers (QIB) segment led the bidding process with a subscription of 2.28 times, while the retail segment received bids 1.33 times.
The QIB segment received bids for 86.86 lakh shares against the 38.08 lakh shares reserved for the category, while retail investors submitted bids for 17,43,885 shares as against 13,07,073 on offer.
Non-institutional investors (NIIs) bid for only 4,26,756 shares as compared to 19,60,609 shares reserved for them.
Entero Healthcare IPO share allotment
The share allotment status for the Entero Healthcare IPO is expected to be finalised on 14th February, with shares credited by 15th February. The shares will be listed on BSE and NSE.
Entero Healthcare Solutions IPO: Issue size, price band and lot size
The price band for Entero Healthcare Solutions Limited IPO was set ₹1,195-₹1,258 per equity share. Retail investors were allowed to bid for a minimum lot size of 11 shares and in multiples thereafter. The minimum investment amount was ₹13,145.
The maximum investment for retail investors was limited to ₹2 lakh, while Entero Healthcare Solutions Limited employees participating in the IPO had a maximum investment ceiling of ₹2 lakh.
The IPO includes a fresh issue of ₹1,000 crore and an OFS (offer for sale) of 4,769,475 equity shares from promoters and other investors, which in total amounts to ₹600 crore. The company has already raised a sum of ₹716.4 crore from anchor investors prior to the IPO opening for subscription.
About Entero Healthcare Solutions
Entero Healthcare Solutions Limited is a healthcare products distributor based in India, founded in 2018. The company provides distribution services for healthcare products to hospitals, clinics, and pharmacies. It offers a wide range of more than 4,500 products. It also provides order fulfilment and claim settlement services.