Entero Healthcare Solutions Limited | Globe Capital Market LTD.
Entero Healthcare Solutions Limited
Price Band
₹1195 to ₹1258 per share
IPO Issue Period
Feb 9, 2024 to Feb 13, 2024
Issue Size
₹1,600.00 Cr
Face value
Fresh issue
₹1,000.00 Cr
Offer for sale
₹600.00 Cr
Minimum Shares for Retail
Listing on
Issue Type
Book Building
Registrar to the Issue
Link Intime India Private Ltd
Tentative Listing Date
Feb16, 2024

ICICI Securities Limited
Dam Capital Advisors Ltd
Jefferies India Private Limited
Jm Financial Limited
SBI Capital Markets Limited

Incorporated in 2018, Entero Healthcare Solutions Limited is a distributor of healthcare products in India. The company’s technology-driven platform provides healthcare product distribution services to pharmacies, hospitals, and clinics throughout India.

During the fiscal years 2021, 2022, and 2023, the company served over 39,500, 64,200, and 81,400 retail customers, respectively. Additionally, they also served over 1,600, 2,500, and 3,400 hospital customers during the same period.

Entero Healthcare Solutions has relationships with over 1,900 healthcare product manufacturers, giving them access to over 64,500 product stock-keeping units as of March 31, 2023.

The company has 73 warehouses in 37 cities across 19 states and union territories, and its customer base includes over 81,400 pharmacies and 3,400 hospitals in 495 districts as of March 31, 2023. This provides excellent access to healthcare product manufacturers.

As of 31st March, 2023, the company employs a total of 3014 people in various departments.

For year/ period ended ( in Cr.)

Particulars H1FY23 FY22 FY21
Total Revenue 3,305.72 2,526.55 1,783.67
Profit After Tax -11.10 -29.44 -15.35
EPS (3.10) (9.22) (5.29)
OPM (%)
PATM (%)


For year/ period ended ( in Cr.)

Company Name Market Cap (Cr.) Price P/BV P/E Sales (Cr.)
Net Profits(Cr.)
Entero Healthcare Solutions Limited *3021 1258 7.22 213 3,305.72 -11.10
Medplus Health Services Ltd. 8,014.35 670.45 5.2 136.63 5,387.34 58.57


*Market cap @upper band of Rs./-

  • It operates in the large and highly fragmented Indian healthcare products distribution market and expect to benefit from market consolidation.
  • It is one of India’s largest and fastest growing healthcare products distribution platforms.
  • It has a track record of inorganic expansion and integration to grow its geographic reach, revenues and scale.
  • It has a differentiated business model offering comprehensive and integrated commercial and supply chain solutions.
  • It has a proprietary technology platform with integrated business intelligence tools and solutions.
  • It has has an experienced, committed and qualified founding and professional management team with deep industry expertise and backed by healthcare focused investor.
  • Repayment/prepayment, in full or part, of certain borrowings availed of by the company and our Subsidiaries.
  • Funding the long term working capital requirements.
  • Pursuing inorganic growth initiatives through acquisitions.
  • General corporate purposes.

At the upper band of Rs. 1258, the stock is trading at P/E multiple of 213 times. The stock is richly valued. Hence, Investors may park funds for the medium to long term rewards.

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