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Entero Healthcare IPO subscribed 19 pc on second day of offer

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NewsDrum Desk
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New Delhi, Feb 12 (PTI) The initial share sale of healthcare products distributor Entero Healthcare Solutions received a 19 per cent subscription on the second day of bidding on Monday.

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The Rs 1,600 crore-Initial Public Offering (IPO) got bids for 13,85,604 shares against 71,50,100 on offer, as per NSE data.

The category for Retail Individual Investors (RIIs) got subscribed 88 per cent while the quota for non-institutional investors received 9 per cent subscription.

The portion for the Qualified Institutional Buyers (QIBs) have almost remained unsubscribed.

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The IPO is a combination of fresh issue of up to Rs 1,000 crore and an Offer For Sale (OFS) of up to 47,69,475 equity shares, aggregating up to Rs 600 crore at the upper end of the price band.

Price range for the offer is Rs 1,195-1,258 per share.

Entero Healthcare Solutions has collected Rs 716 crore from anchor investors.

Proceeds from the fresh issue will be used towards payment of debt, funding working capital requirements, pursuing inorganic growth initiatives through acquisitions and general corporate purposes.

ICICI Securities, DAM Capital Advisors, Jefferies India, JM Financial, and SBI Capital Markets are the managers to the offer. PTI HG TRB

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