Paras Healthcare Sets ₹1,450 Crore IPO, Bidding Opens October 21 At ₹660–693

Mumbai: Paras Healthcare, which operates hospitals under the Paras Health brand, will open its ₹1,450 crore initial public offering on October 21, with shares priced between ₹660 and ₹693 each.

The public issue will close on October 23. Anchor investor bidding is scheduled for October 19, according to the company’s announcement.

The Gurugram-based hospital operator has reduced the offering from ₹1,800 crore, making the issue ₹350 crore smaller than planned.

Fresh Issue and OFS Structure

The Paras Healthcare IPO comprises a fresh share issue worth ₹500 crore and an offer for sale of ₹950 crore by existing shareholders.

Promoter Dharminder Kumar Nagar and investor Commelina will sell shares through the OFS component.

The fresh issue accounts for approximately 34.5 per cent of the total offering, while the OFS represents about 65.5 per cent.

Paras Healthcare plans to use the fresh issue proceeds to repay debt. Money raised through the OFS will go to the selling shareholders rather than the company.

Eight Hospitals Across Six Regions

Paras Healthcare operates eight hospitals across five states and one Union Territory, giving investors exposure to a hospital network spanning several northern and eastern Indian markets.

Its Haryana facilities are located in Gurugram and Panchkula. In Bihar, the company operates hospitals in Patna and Darbhanga.

The hospitals are in Kanpur, Uttar Pradesh; Udaipur, Rajasthan; Ranchi, Jharkhand; and Srinagar, Jammu and Kashmir.

Eight facilities operate under the Paras Health brand.

Investor Allocation and Listing Timeline

Qualified institutional buyers have been allocated 75 per cent of the net offer. Non-institutional investors will receive 15 per cent, while retail individual investors have a 10 per cent allocation.

The shares are expected to list on the stock exchanges on October 28, following the completion of the subscription and allotment process.

JM Financial, BofA Securities India and Nuvama Wealth Management are the book-running lead managers. MUFG Intime India is the registrar to the issue.