Health insurer Niva Bupa Health Insurance Company Ltd and Paras Healthcare Ltd, which runs the hospital chain under the ‘Paras Health’ brand, have received Sebi’s go ahead to raise funds through Initial Public Offerings (IPOs), an update with the markets regulator showed on Monday.
Niva Bupa Health Insurance Company is looking to garner Rs 3,000 crore through an initial share sale involving fresh issuance of equity shares and Offer for Sale (OFS) component. Paras Healthcare is aiming to raise Rs 400 crore through fresh issuance of equity shares, besides there is an OFS component.
The two companies, which filed their draft IPO papers with the Securities and Exchange Board of India (Sebi) during July-August, obtained its observations on October 18, the update showed.
In Sebi’s parlance, obtaining observation means its go ahead to float the public issues.
The equity shares of both companies proposed to be listed on the BSE and NSE.
Going by the draft papers, the proposed IPO of Niva
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