Paras Healthcare Ltd will launch its ₹1,450-crore initial public offering (IPO) on October 21, with a price band set between ₹660 and ₹693 per share. The three-day public issue will close on October 23, while bidding for anchor investors is scheduled for October 19, according to the company’s public announcement on thehindubusinessline.com.
The IPO consists of a fresh equity issue worth ₹500 crore and an Offer for Sale (OFS) of shares worth ₹950 crore by selling shareholders, including promoter Dharminder Kumar Nagar and investor Commelina Ltd. The Gurugram-based firm has reduced the issue size from an earlier planned ₹1,800 crore. Paras Healthcare intends to use the proceeds from the fresh issue primarily to repay debt.
Paras Healthcare operates a network of eight hospitals under the Paras Health brand across five states and one Union Territory. Its hospitals are located in Gurugram and Panchkula in Haryana, Patna and Darbhanga in Bihar, Kanpur in Uttar Pradesh, Udaipur in Rajasthan, Ranchi in Jharkhand, and Srinagar in Jammu and Kashmir. The IPO has reserved 75% of the net offer for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail individual investors.
The IPO’s anchor investor bidding will take place on October 19, ahead of the public subscription window from October 21 to October 23. The company’s decision to reduce the issue size and set the price band reflects its strategy to balance capital raising with market conditions.