Paras Healthcare Ltd, which operates hospitals under the Paras Health brand, will launch its ₹1,450-crore initial public offering (IPO) on October 21, with a price band of ₹660-693 per share.
The three-day public issue will close on October 23, while the bidding for anchor investors will take place on October 19.
The proposed IPO comprises a fresh issue of equity shares worth ₹500 crore and an Offer for Sale (OFS) of shares worth ₹950 crore by the selling shareholders, according to a public announcement on Thursday.
The Gurugram-based firm has reduced the issue size from ₹1,800 crore planned earlier.
As a part of the OFS, promoter Dharminder Kumar Nagar and investor Commelina Ltd will offload shares.
Paras Healthcare proposes to utilise the proceeds from the fresh issue to repay debt.
The company operates a network of eight hospitals under the Paras Health brand, with a presence across five states and one Union Territory.
Its hospitals are located in Gurugram and Panchkula in Haryana, Patna and Darbhanga in Bihar, Kanpur in Uttar Pradesh, Udaipur in Rajasthan, Ranchi in Jharkhand and Srinagar in Jammu and Kashmir.
The IPO has reserved 75 per cent of the net offer for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs) and 10 per cent for retail individual investors.
The equity shares are expected to list on the bourses on October 28.
JM Financial, BofA Securities India, and Nuvama Wealth Management are the book-running lead managers for the issue, while MUFG Intime India is the registrar.