Monitoring Agency Report issued by the ICRA Limited for the quarter ended March 31, 2025
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Entero Healthcare Solutions has submitted the ICRA Monitoring Agency Report for the quarter ended March 31, 2025, tracking use of its February 2024 IPO proceeds. Out of Rs. 951.33 crore in net proceeds, the company has utilized Rs. 792.88 crore so far. Debt repayment of Rs. 142.5 crore was fully completed in FY2024. Working capital funding used Rs. 399.95 crore of the Rs. 480 crore allocated, leaving Rs. 80.05 crore unutilized. For inorganic growth via acquisitions, Rs. 193 crore of the Rs. 237 crore target has been deployed, with a delay noted against the FY2025 completion timeline. The remaining Rs. 158.45 crore is parked in fixed deposits across HDFC, Axis, ICICI, and IndusInd Bank, earning between 0.2% and 0.8% returns. ICRA confirmed no deviation from the stated objects of the issue.
This is a routine SEBI compliance filing confirming IPO funds are being used as disclosed. The Rs. 158.45 crore still parked in low-yielding FDs and the delay in the acquisitions object are mild concerns, but overall the report is neutral to slightly positive for shareholders.