Feb 13, 2024 08:58 AM IST
The ₹1600 crore IPO opened for subscription on February 9.
The initial public offering (IPO) of products distributor firm Entero Healthcare Solutions opened on February 9 and will close on Tuesday. Though the ₹1600 crore IPO hoped to get by on day two with some positive response from retail investors, it was unsuccessful.
Competing with three other public offers, the IPO struggled to to get through on the first day, competing with the other three IPOs. Not much enthusiasm was expressed by the retail investors, and there was very little response from non-institutional investors.
Discover the thrill of cricket like never before, exclusively on HT. Explore now!
Entero Healthcare Solutions IPO subscription status on day 2
As per Mint, on the second day, the IPO’s subscription status was 19%: retail investors portion was subscribed 88%, Non-Institutional Investors (NII) portion was booked 9%, and Qualified Institutional Buyers (QIB) portion was yet to be booked. The employee portion, meanwhile, was subscribed 77%.
To subscribe or not?
As per brokerage firm Swastika Investmart Limited, Entero Healthcare Limited has ‘lost money in the last three fiscal years.’
“This is due to negative cash flows from financing, investing, and operating activities. Additionally, the company’s operations demand a large amount of working capital. As it has been at a loss, we cannot define its P/E valuation. However, due to its current financial condition and other risk factors, we will avoid this IPO,” Shivani Nyati, Head of Wealth, Swastika Investmart, told Mint.
(Disclaimer: Individual analyst’s view)
Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it’s all here, just a click away!- Login Now!
Stay informed on Business Newsalong withGold Rates Today, India News and other related updates on Hindustan Times Website and APPs
- ABOUT THE AUTHOR
Follow the latest breaking news and developments from India and around the world with Hindustan Times’ newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we’ve got you covered.