The Securities and Exchange Board of India (SEBI) has approved an initial public offering (IPO) by Enterro Healthcare Solutions Limited, one of India's top three healthcare product distributors by revenue in the financial year ending March 22.
The IPO will include ₹1,000 crore worth of fresh issues and sale of nearly 8.6 million shares by existing shareholders, including the promoters.
ICICI Securities, Dam Capital Advisors, Jefferies India, JM Financial and SBI Capital Markets are the lead book runners for the issue.
What does Enterro Healthcare do?
The company, registered in Faridabad (Haryana), sells drugs, medical devices, and other solutions to pharmacies and hospitals.
In the financial year ending March 2023, the company's net loss narrowed to ₹11.1 crore from Rs 29.44 crore a year earlier. Revenue grew 31% year-on-year to reach ₹3,300 crore in the same period, according to data from India Infoline, a Mumbai-based broking firm.
This is developing story.
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(Edited by : Sriram Iyer)
First Published: Jan 25, 2024 2:48 PM IST
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