Paras Healthcare files IPO papers
Paras Healthcare, the Delhi NCR-based hospital chain has filed Draft Red Herring Prospectus (DRHP) with SEBI for ₹700 crore — ₹900 crore Initial Public Offering (IPO).
The IPO comprises of a fresh issue of equity shares of up to ₹400 crores and an offer for sale (OFS) of up to 14,974,010 equity shares with face value of ₹1 each equity share.
The offer for sale comprises of 2,928,320 shares by the promoter Dr. Dharminder Kumar Nagar and up to 12,045,690 shares by investor Commelina (Creador).
Paras had raised Rs 260 crore from Creador by issuing Compulsorily Convertible Preference Shares (CCPS) in July 2017. The CCPS were converted into equity shares in September 2018, giving Creador a 24.68% equity stake in the company.
Paras Healthcare proposes to utilize the net proceeds towards debt repayment, investment in subsidiaries and general corporate purposes.
Paras with revenues of Rs 1151 crore in FY24, is the fifth largest healthcare provider in terms of bed capacity in North India, with capacity of 2,135 beds.
Paras which focuses on tier-2 and tier-3 cities 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.
The hospital chain offers several clinical specialties across hospitals including cardiac sciences, oncology, neuro sciences, gastro sciences and
