- By Vaamanaa Sethi
- Fri, 15 Sep 2023 12:20 PM (IST)
- Source:JND
Entero Healthcare Solutions Ltd, which is a pharma product distribution company, has filed a draft herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for launching its initial public offering (IPO).
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The issue comprises a fresh issue of up to ₹10,000 million and an offer for sale of up to 8,557,597 equity shares aggregating equity shares by selling shareholders.
The offer for sale comprises up to 534,082 Equity Shares by Prabhat Agrawal, Up to 7,500,000 Equity Shares by OrbiMed Asia III Mauritius Limited, up to 353,302 Equity Shares by Prem Sethi, up to 4,401 Equity Shares by Chethan M.P., Up to 1,320 Equity Shares by Deepesh T. Gala, Up to 8,802 Equity Shares by Hemant Jose Barros, Up to 4,401 Equity Shares by Hemant Jaggi, Up to 2,201 Equity Shares by K.R.V.S. Varaprasad, Up to 39,610 Equity Shares by K.E. Prakash and Up to 1,320 Equity Shares by Lavu Sahadev.
The company proposed to utilise the net proceeds from the offer towards the repayment or prepayment of certain borrowings availed of by the company and its subsidiaries, towards funding working capital requirements, general corporate purposes and to 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 Limited was founded in 2018 and 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.