Paras Healthcare IPO subscribed 34 pc on day 2

New Delhi, Oct 22 (PTI) The initial public offering of Paras Healthcare, which operates hospitals under the Paras Health brand, received 34 per cent subscription on the second day of bidding on Thursday.

The IPO attracted bids for 41,23,644 equity shares against 1,20,83,331 shares on offer, according to the NSE data.

The retail category was subscribed 1.31 times, while the portion reserved for non-institutional investors was booked 25 per cent and the qualified institutional buyers segment received 6 per cent subscription.

Paras Healthcare garnered Rs 652.5 crore from anchor investors on Monday.

Investors who participated in the anchor round included Abu Dhabi Investment Authority, BlackRock and Eastspring Investments.

The public issue will conclude

on October 23. The company has fixed the IPO price band at Rs 660-693 per share.

The IPO comprises a fresh issue of equity shares worth Rs 500 crore and an offer-for-sale (OFS) of shares worth Rs 950 crore by promoter Dharminder Kumar Nagar and investor Commelina Ltd.

The Gurugram-based firm reduced the issue size from the Rs 1,800 crore planned earlier.

The net proceeds from the fresh issue will be used to repay debt.

The company operates a network of eight hospitals with a presence across five states and one Union Territory.

The equity shares are tentatively scheduled to be listed on the NSE and BSE on October 28.

JM Financial, BofA Securities India and Nuvama Wealth Management are the book-running lead managers to the issue. PTI HG HG BAL

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