Paras Healthcare to launch ₹1,450-crore IPO on Oct 21; price band set at ₹660-693/share
The proposed IPO comprises a fresh issue of equity shares worth ₹500 crore and an Offer for Sale of shares worth ₹950 crore
Paras Healthcare Ltd, a Gurugram-based healthcare company, plans to launch a ₹1,450-crore initial public offering (IPO) on October 21. The price range for each share will be between ₹660 and ₹693. The public issue will be open for three days, closing on October 23, with anchor investor bidding commencing on October 19.
The IPO will consist of a fresh equity issue of ₹500 crore and an Offer for Sale (OFS) of ₹950 crore by existing shareholders, including promoter Dharminder Kumar Nagar and investor Commelina Ltd. Paras Healthcare has scaled down its issue size from the previously announced ₹1,800 crore.
The company intends to use the funds raised to pay off its debt. Paras Healthcare operates eight hospitals under the Paras Health brand across five states and one Union Territory, with facilities in Gurugram, Panchkula, Patna, Darbhanga, Kanpur, Udaipur, Ranchi, and Srinagar.
The IPO has allocated 75% of the net offer to Qualified Institutional Buyers (QIBs), 15% to Non-Institutional Investors (NIIs), and 10% to retail investors. The equity shares are scheduled to trade on the stock exchanges starting October 28. JM Financial, BofA Securities India, and Nuvama Wealth Management are the lead managers for the issue, while MUFG Intime India serves as the registrar.
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