Trilegal advised BRLMs on IPO of equity shares by Entero Healthcare Solutions

Trilegal advised BRLMs on IPO of equity shares by Entero Healthcare Solutions

The offer includes a fresh issue of equity shares worth Rs.10,000 million and the sale of equity shares costing Rs.6,000 million

Trilegal has acted as the legal advisor to the book-running lead managers (BRLM) ICICI Securities, DAM Capital Advisors, Jefferies India, JM Financial, and SBI Capital relating to the initial public offer (IPO) of equity shares by Entero Healthcare Solutions Limited.

Incorporated in 2018, Entero is a distributor of healthcare products in India through an organized technology-driven platform. The company provides healthcare product distribution services to pharmacies, hospitals, and clinics.

It is amongst the top three healthcare product distributors in the country in terms of revenue in fiscal 2022. As per the industry expert CRISIL, it achieved the fastest scale-up of operations among healthcare product distributors during 2019-2022.

The company intends to use the net proceeds from the fresh offering to finance its long-term working capital needs for the Financial Year 2025-2026. It will pursue inorganic growth initiatives through acquisitions and general corporate purposes.

The Trilegal team advising on the deal was led by partner, and head of capital markets Bhakta Patnaik along with partner Brajendu Bhaskar. The team comprised senior associate Malika Grewal and associates Arsh Sinha, Jahanvi Jain, Anoushka PV, Pratyusha Dasgupta, and Mahima Chhabrani.