Paras Healthcare secures Rs 652 cr from anchor traders; IPO to open on Oct 21
The firm attracted participation from home in addition to international anchor traders.
According to circulars uploaded on exchanges’ web sites, Paras Healthcare has allotted 94,15,584 fairness shares to 39 funds at Rs 693 apiece, aggregating to Rs 652.5 crore.
Investors who participated within the anchor spherical included SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Kotak MF, Whiteoak Capital MF, Abu Dhabi Investment Authority, BlackRock and Eastspring Investments.
Paras Healthcare’s IPO will open on October 21 and conclude on October 23.
The value band has been fastened at Rs 660-693 per share.
The proposed IPO contains a recent subject of fairness shares value Rs 500 crore and an Offer for Sale (OFS) of shares value Rs 950 crore by the promoting shareholder.The Gurugram-based agency lowered the difficulty dimension from the Rs 1,800 crore deliberate earlier.
As part of the OFS, promoter Dharminder Kumar Nagar and investor Commelina Ltd will offload shares.
Paras Healthcare proposes to utilise the proceeds from the recent subject to repay debt.
The firm operates a community of eight hospitals underneath the Paras Health model, with a presence throughout 5 states and one Union Territory. Its hospitals are positioned 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 fairness shares are anticipated to listing on the bourses on October 28.
JM Financial, BofA Securities India, and Nuvama Wealth Management are the book-running lead managers to the difficulty, whereas MUFG Intime India is the registrar.
