The Entero Healthcare Solutions IPO concluded with investors subscribing 1.53 times the shares on offer on its final day, with strong participation from qualified institutional buyers (QIBs) and retail investors.
According to subscription data available on the NSE, 1.09 crore shares were subscribed against the 71.50 lakh shares reserved for the IPO.
The QIB portion was oversubscribed 2.28 times, with bids for 86.86 lakh shares against the reserved portion of 38.08 lakh shares. Meanwhile, retail investors’ bids totaled 17.43 lakh shares, surpassing the reserved portion of 13.07 lakh shares by 1.33 times.
However, non-institutional investors (HNIs) showed less enthusiasm, with only 4.26 lakh bids received compared to the reserved portion of 19.60 lakh shares.
Entero’s IPO commenced on February 9, with the Faridabad-based healthcare products distributor aiming to raise Rs 1,000 crore through a fresh issue and an additional Rs 600 crore via the offer-for-sale (OFS) route. The price band for the offer was set at Rs 1,195-1,258 per share.
Of the fresh issue proceeds, the company plans to utilize Rs 142.5 crore for debt repayment and Rs 480 crore for long-term working capital requirements. The remaining funds from the fresh issue will be allocated for inorganic growth initiatives through acquisitions and general corporate purposes.
