Entero Healthcare Shares Drop 9% on Debut - IPO News

New Delhi, Feb 16 (PTI) Shares of healthcare products distributor Entero Healthcare Solutions tumbled 9 per cent in debut trade on Friday against the issue price of Rs 1,258.

The stock opened at Rs 1,245, lower by 1.03 per cent against the issue price on the BSE. During the day, it hit a low of Rs 1,141.80 and later ended 8.62 per cent lower at Rs 1,149.50 apiece.

On the NSE, shares of Entero Healthcare started the trade at Rs 1,228.70, with a discount of 2.33 per cent before settling at Rs 1,150.10, down 8.58 per cent.

At the close of the session, the company's market valuation stood at Rs 4,999.61 crore on the BSE.

In terms of volume, 17.88 lakh equity shares were traded on the NSE, while 1.38 lakh shares changed hands on the BSE during the day.

In the broader equity markets, the 30-share BSE Sensex jumped 376.26 points, or 0.52 per cent, to settle at 72,426.64 points, while NSE Nifty advanced 0.59 per cent to close at 22,040.70 points.

The Rs 1,600 crore IPO of Entero Healthcare Solutions was subscribed 1.53 times on the final day of subscription on Tuesday.

Price range for the offer was Rs 1,195-1,258 per share.

Entero Healthcare Solutions -- a distributor of healthcare products -- is the third company to list at a discount this week.

On Wednesday, both Jana Small Finance Bank (SFB) and Capital SFB shares ended at a discount of 11 per cent and 7 per cent, respectively, to their issue prices.