Paras Healthcare shares debut at 4% premium on NSE, BSE; here's how much investors made per lot

Shares of Paras Healthcare debuted at ₹720 apiece on the National Stock Exchange (NSE) and the BSE on Wednesday, October 28.

This reflects a premium of 3.90% the IPO issue price of ₹693 per share.

Paras Healthcare share price: Here's how much investors made per lot

A lot consisted of 21 shares and cost ₹14,553. Investors who received Paras Healthcare IPO allotment made ₹567 per lot, taking the value of their investment to ₹15,120, as per the listing price on the NSE.

The ₹1,450 crore IPO was a combination of a fresh issuance of shares worth ₹500 crore and an offer-for-sale (OFS) component of shares totalling ₹950 crore by promoter Dharminder Kumar Nagar and investor Commelina Ltd.

The net proceeds will be used to repay borrowing and for general corporate purposes.

"Our company expects to receive the benefits of listing its equity shares on the Stock Exchanges, including enhancing its visibility and brand image, and creating a public market for our equity shares," the firm said in its red herring prospectus.

The initial public offering was subscribed 2.23 times. It secured bids for 2,69,43,714 shares against 1,20,83,331 shares on offer, as per the data on the NSE website.

The retail portion was subscribed 2 times, while the category for qualified institutional buyers (QIBs) was booked 3.09 times. The part for non-institutional investors (NIIs) fetched 66% subscription.

Before the IPO, the company secured ₹652.5 crore from anchor investors, including SBI Mutual Fund, HDFC MF, Whiteoak Capital MF, Abu Dhabi Investment Authority, Eastspring Investments and BlackRock, among others.

The Gurugram-based firm operates eight hospitals across five states and one Union Territory. It specialises in cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics & sports injury, and renal sciences (CONGOR specialities).

JM Financial, Nuvama Wealth Management and BofA Securities India were the issue's book-running lead managers. while MUFG Intime India serves as the registrar.