The public issue comprises a fresh issue of equity shares of up to Rs 400 crores and an offer for sale (OFS) of up to 14,974,010 equity shares by the selling shareholders, with a face value of Re 1 per equity share.
Dharminder Kumar Nagar, the promoter of the company, plans to offload 2,928,320 equity shares with a face value of Re 1 each in Paras Healthcare. Additionally, the investor Commelina Limited is also planning to sell up to 12,045,690 equity shares with a face value of Re 1 each in this public offering.
ICICI Securities, IIFL Securities, and Motilal Oswal Investment Advisors are the Book Running Lead Managers for the public issue of Paras Healthcare.
The company intends to utilise the net proceeds from the public issue for the prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the company; investment in subsidiaries, Paras Healthcare (Ranchi) and Plus Medicare Hospitals, in the form of debt or equity for the repayment/prepayment of borrowings, in full or in part, of such subsidiaries; and general corporate purposes.
About Paras Healthcare Limited
Paras Healthcare Limited is the fifth largest healthcare provider in terms of bed capacity in North India, Bihar, and Jharkhand, according to a CRISIL Report. The company operates eight hospitals under the Paras Health brand, which are spread across five states and one union territory in North India: Gurugram and Panchkula in Haryana; Patna and Darbhanga in Bihar; Kanpur, Uttar Pradesh; Udaipur, Rajasthan; Ranchi, Jharkhand; and Srinagar in the union territory of Jammu and Kashmir. Paras Healthcare offers several clinical specialties across hospitals, including cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics, and joint replacement.
First Published: Aug 01 2024 | 3:40 PM IST
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