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Paras Healthcare files DRHP with SEBI

05 Aug 2024 Evaluate

Paras Healthcare has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The proposed IPO is a mix of fresh issue of equity shares of up to Rs 400 crore and an offer for sale (OFS) of up to 1.5 crore shares by a promoter and an investor shareholder.

The company proposes to utilise the proceeds from the fresh issue for payment of debt; investment in subsidiaries, Paras Healthcare (Ranchi) and Plus Medicare Hospitals, in the form of debt or equity for payment of borrowings and for general corporate purposes. ICICI Securities, IIFL Securities and Motilal Oswal Investment Advisors are the book-running lead managers to the public issue.

Paras Healthcare offers several clinical specialties across hospitals, including cardiac sciences, oncology, neurosciences, gastrosciences, orthopaedics and joint replacement. It focuses on providing specialised tertiary medical care in Tier 2 and 3 cities.


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