Paras Healthcare, the Gurugram-based hospital chain founded by Dr Dharminder Kumar Nagar, raised Rs 652.5 crore through its anchor book on October 19, ahead of the opening of its maiden public issue. Global investors participating in the anchor book included the Abu Dhabi Investment Authority, BlackRock Global Funds, Eastspring Investments, Government Pension Fund Global, Natixis International Funds, Integrated Core Strategies (Asia), and Citigroup Global.
The IPO will open for public subscription on October 21 and close on October 23. The price band has been fixed at Rs 660–693 per share.
The company plans to raise Rs 1,450 crore through the initial public offering (IPO), comprising a fresh issue of shares worth Rs 500 crore and an offer for sale (OFS) of shares worth Rs 950 crore. Promoter Dharminder Kumar Nagar and investor Commelina, an affiliate of private equity firm Creador, will sell shares worth Rs 300 crore and Rs 650 crore, respectively, through the OFS.
Paras Healthcare, which operates a network of eight hospitals under the Paras brand, allotted 94.15 lakh equity shares to 21 institutional investors through the anchor book on Monday.
"Of these, 55.55 lakh shares worth Rs 385 crore were allocated to nine domestic mutual funds, which participated through a total of 24 schemes," the company said in its filing.