Paras Healthcare Received Green Light From SEBI to Float IPO

The hospital chain operator Paras Healthcare Limited has received approval from the capital market regulator, the Securities and Exchange Board of India to float an IPO. Paras Healthcare IPO comprises a fresh issue of ₹400 crore and an offer for sale of 1,49,74,010 shares. ICICI Securities Limited, IIFL Securities Limited and Motilal Oswal Investment Advisors Limited have been appointed as the book runner lead manager of Paras Healthcare IPO While Link Intime India Private Limited as the registrar to the issue.

Objects of Paras Healthcare IPO

Fresh Issue

• Prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the company.
• Investment in its Subsidiaries, Paras Healthcare (Ranchi) Private Limited and Plus Medicare Hospitals Private Limited, in the form of debt or equity for repayment/prepayment of borrowings, in full or part, of such Subsidiaries.
• General corporate purposes.

Offer For Sale

The proceeds from the Offer for Sale shall be received by the Selling Shareholders after deducting their proportion of Offer expenses and relevant taxes thereon.

About Paras Healthcare Limited

Incorporated in 1987, Paras Healthcare Limited is one of the leading hospital chain operators. It is 5th largest healthcare provider in terms of bed capacity in North India, Bihar and Jharkhand among

its peers with an aggregate of 2,135 beds, as of March 31, 2024.  Paras Healthcare offers several clinical specialities across its hospitals including cardiac sciences, oncology, neurosciences, gastro sciences and orthopaedics and joint replacement. It has established centres of excellence across its hospitals, where it provides clinical specialties and these centres have been instrumental in launching new programs including organ transplant programs.

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