Paras The IPO of Paras Healthcare, a company that operates hospitals under the name of Health, is going to open on Wednesday, October 21. This IPO will close on Friday, October 23. Paras Healthcare is going to raise Rs 1450 crore from its IPO. The company has raised Rs 652.5 crore from anchor investors before the opening of the IPO, which includes domestic investors as well as global investors.
Which companies invested money in Paras Healthcare’s IPO?
According to the information available on the website of the stock exchanges, Paras Healthcare has allotted 94,15,584 equity shares to 39 funds at a price of Rs 693 per share. The company has received Rs 652.5 crore from this. Anchor investors include SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, WhiteOak Capital Mutual Fund, Abu Dhabi Investment Authority, BlackRock and EastSpring Investments.
Company will issue new shares worth Rs 500 crore in IPO
Paras Healthcare has fixed the price band of Rs 660 to Rs 693 for each share with a face value of Re 1 for its IPO. 72,15,007 new shares worth Rs 500 crore will be issued through this IPO. Apart from this, OFS of Rs 950 crore is also included in it. Under the OFS, the existing promoters of the company will sell 1,37,08,513 shares worth Rs 950 crore from their stake.
The company will be listed in the stock market on October 28.
After the IPO closes on October 23, allotment of shares will be done on October 26. The shares will be credited to the demat account of the investors on October 27 and those investors who do not get the shares will get the refund on October 27 only. Finally, on Wednesday 28th October, Paras Healthcare will be listed on BSE and NSE, both the major exchanges of the domestic stock market.
The company runs 8 hospitals in 5 states and 1 union territory.
Let us tell you that Paras Healthcare was earlier going to launch an IPO of Rs 1800 crore, but later it was reduced to Rs 1450 crore. The company will use the proceeds from the sale of new shares to repay the loan. Gurugram-based Paras Healthcare operates a total of 8 hospitals in 5 states and one union territory in the country.
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