Paras Healthcare Ltd. LIST AT 4 PERCENT POSITIVE

PARASHLTH Shares of Paras Healthcare made a positive debut on the stock exchanges on October 28, listing at a premium of around 4% over the initial public offering issue price. The stock listed at Rs 720 per share on both the BSE and NSE, marking a 3.9% premium over the IPO price of Rs 693 per share. Following the listing, the company’s market capitalisation stood at approximately Rs 7,790.49 crore. The listing performance was broadly in line with grey market expectations. According to Investorgain, the grey market premium had indicated a potential listing gain of nearly 2% ahead of the market debut. The GMP is an unofficial indicator of investor sentiment based on transactions conducted outside regulated stock exchanges. It does not guarantee listing gains, and the premium can fluctuate before the shares are listed. As part of the offer for sale, promoter Dharminder Kumar Nagar planned to sell shares worth Rs 300 crore, while Commelina, an affiliate of private equity firm Creador, intended to offload shares worth Rs 650 crore. The anchor investor book included prominent names such as the Abu Dhabi Investment Authority, BlackRock Global Funds, Eastspring Investments, Government Pension Fund Global, Natixis International Funds, Integrated Core Strategies (Asia) and Citigroup Global. Paras Healthcare plans to utilise Rs 375 crore from the net proceeds of the fresh issue to repay a portion of its outstanding debt. The remaining proceeds will be allocated towards general corporate purposes. While the proceeds raised through the fresh issue will go directly to the company, the funds generated through the OFS will be received by the selling shareholders.