Paras Healthcare IPO
Paras Healthcare IPO Details
-
Open Date
21 Oct 2026
-
Close Date
23 Oct 2026
- IPO Price Range
₹ 660 to ₹693
- IPO Size
₹ 1,450 Cr
Paras Healthcare IPO Timeline
Paras Healthcare IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 21-Oct-2026 | 0.00 | 0.08 | 0.73 | 0.15 |
| 22-Oct-2026 | 0.07 | 0.26 | 1.37 | 0.36 |
| 23-Oct-2026 | 3.25 | 0.69 | 2.10 | 2.34 |
Last Updated: 23 October 2026 6:20 PM by 5paisa
Paras Healthcare Limited operates a network of tertiary and quaternary care hospitals under the Paras Health brand. Its hospitals provide specialised medical treatment across cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics and sports injuries, and renal sciences. The company serves patients through inpatient and outpatient services, with revenue generated from self-paying patients, health insurance providers, third-party administrators and government healthcare schemes.
As of 30 June 2026, the company operated eight hospitals with a total capacity of 2,211 beds across Gurugram, Panchkula, Patna, Darbhanga, Kanpur, Udaipur, Ranchi and Srinagar. Its operations are concentrated in northern and eastern India, including several Tier-2 cities where access to specialised healthcare infrastructure continues to expand.
Paras Healthcare is also pursuing capacity expansion through proposed hospitals in Gurugram and Ludhiana. Its operating model combines established hospitals with newer facilities that are progressively increasing patient volumes and occupancy levels.
Established in: 1987
Managing Director: Dr Dharminder Kumar Nagar
Peers :
| Metric | Paras Healthcare | Apollo Hospitals | Fortis Healthcare | Global Health |
|---|---|---|---|---|
| Face Value (₹) | 1 | 5 | 10 | 2 |
| EPS Basic (₹) | 4.34 | 135.04 | 13.80 | 20.71 |
| P/E Ratio (x) | – | 60.02 | 67.31 | 56.55 |
| RoNW (%) | 12.98 | 21.95 | 11.08 | 15.15 |
| NAV Per Share (₹) | 39.11 | 657.58 | 131.07 | 147.06 |
Paras Healthcare Objectives
The company intends to utilise the net proceeds from the fresh issue for the following purposes:
1. Repayment or prepayment of certain outstanding borrowings of Paras Healthcare Limited.
2. Investment in its subsidiary, Plus Medicare Hospitals Private Limited, for repayment or prepayment of certain borrowings.
3. Funding general corporate purposes.
The disclosed allocations towards debt repayment comprise approximately ₹320.90 crore for Paras Healthcare and ₹54.10 crore for its subsidiary, aggregating to ₹375 crore.
The company will not receive proceeds from the Offer for Sale, which will be paid to the selling shareholders.
Paras Healthcare IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹1,450 Cr |
| Offer For Sale | ₹950 Cr |
| Fresh Issue | ₹500 Cr |
Paras Healthcare IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 21 | 13860 |
| Retail (Max) | 13 | 273 | 189189 |
| S-HNI (Min) | 14 | 294 | 194040 |
| S-HNI (Max) | 68 | 1428 | 989604 |
| B-HNI (Min) | 69 | 1449 | 9564849 |
Paras Healthcare IPO Reservation Table
| Category | Subscription (x) | Shares Offered* | Shares Bid For | Total Amt* (₹ Cr.) | Total Applications |
|---|---|---|---|---|---|
| Anchor | 1 | 94,15,584 | 94,15,584 | 652.500 | - |
| QIB (Ex Anchor) | 3.25 | 62,77,056 | 2,03,81,592 | 1,412.444 | 24 |
| NII | 0.69 | 31,38,528 | 21,66,213 | 150.119 | 3,249 |
| bNII (> ₹10L) | 0.62 | 20,92,352 | 12,89,883 | 89.389 | 2,525 |
| sNII (< ₹10L) | 0.84 | 10,46,176 | 8,76,330 | 60.730 | 724 |
| Retail | 2.10 | 20,92,352 | 43,95,573 | 304.613 | 1,49,408 |
| Total ** | 2.34 | 1,15,07,936 | 2,69,43,378 | 1,867.176 | - |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Revenue | 1129.04 | 1294.06 | 1605.95 |
| EBITDA | 154.41 | 156.46 | 335.58 |
| PAT | -15.33 | -57.98 | 43.83 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Total Assets | 1477.66 | 1810.45 | 2071.14 |
| Share Capital | 9.76 | 9.76 | 10.10 |
| Total Liabilities | 1477.76 | 1810.45 | 2071.14 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Net Cash Generated From Operating Activities | 92.48 | 86.19 | 163.51 |
| Net Cash Generated From / (Used In) Investing Activities | -194.06 | -147.25 | -239.41 |
| Net Cash Generated From Financing Activities | 93.98 | 82.82 | 85.89 |
| Net Increase / (Decrease) In Cash And Cash Equivalents | -7.60 | 21.76 | 9.10 |
Strengths
1. Established hospital network: Operates eight hospitals across multiple states and one union territory, providing tertiary and quaternary healthcare services.
2. Diversified clinical specialities: Offers specialised treatment across cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics and renal sciences.
3. Improving operating performance: EBITDA increased from ₹156.46 crore in FY25 to ₹335.58 crore in FY26.
4. Higher hospital utilisation: Bed occupancy increased from 50.78% in FY25 to 61.75% in FY26, reflecting improved utilisation of existing infrastructure.
5. Presence in underserved healthcare markets: Operates hospitals in Tier-2 cities, providing access to specialised healthcare outside major metropolitan markets.
Weaknesses
1. Capital-intensive operations: Hospital infrastructure, advanced medical equipment and capacity expansion require substantial capital investment.
2. Elevated borrowings: Total borrowings increased to approximately ₹854.10 crore in FY26, creating financing and repayment obligations.
3. Recent financial losses: The company reported losses in FY24 and FY25 before returning to profitability in FY26.
4. Geographic concentration: A substantial proportion of revenue is generated from hospitals located in northern and eastern India.
5. Dependence on medical professionals: Hospital operations require qualified doctors, nursing personnel and specialists, making recruitment and employee retention important operating considerations.
Opportunities
1. Growing healthcare demand: Rising healthcare expenditure and increasing demand for specialised medical treatment may support hospital utilisation.
2. Hospital capacity expansion: Proposed hospitals in Gurugram and Ludhiana could increase the company's bed capacity and geographic reach.
3. Tier-2 healthcare development: Expanding access to specialised treatment outside metropolitan areas creates opportunities for regional hospital networks.
4. Increasing insurance coverage: Wider health insurance adoption and government healthcare programmes may support access to institutional healthcare.
5. Operational improvements: Higher occupancy and improved utilisation of existing hospitals could support revenue growth and operating efficiency.
Threats
1. Competitive healthcare market: Competition from established hospital chains and regional healthcare providers could affect patient volumes and pricing.
2. Regulatory requirements: Healthcare operations are subject to licensing, medical standards, environmental requirements and other regulatory obligations.
3. Medical workforce costs: Rising compensation for doctors, specialists and nursing personnel could increase operating expenses.
4. Reimbursement and pricing pressure: Changes in insurance reimbursement, government scheme pricing or payment cycles could affect cash flows and margins.
5. Project execution risks: Delays in hospital construction, regulatory approvals or capacity ramp-up could increase costs and postpone expected revenues.
1. Established regional healthcare presence: Paras Healthcare operates eight hospitals with 2,211 beds across multiple locations, providing specialised healthcare services.
2. Revenue growth: Revenue from operations increased from ₹1,129.04 crore in FY24 to ₹1,605.95 crore in FY26.
3. Return to profitability: The company reported PAT of ₹43.83 crore in FY26 after recording losses in the previous two financial years.
4. Improving hospital utilisation: Bed occupancy increased from 50.78% in FY25 to 61.75% in FY26, supporting higher operating revenue.
5. Debt repayment and expansion: The proposed use of fresh issue proceeds for debt repayment could reduce certain borrowing obligations, while planned hospital expansion offers opportunities to increase operating capacity.
India's hospital sector is benefiting from rising healthcare expenditure, increasing demand for specialised medical treatment and greater penetration of health insurance. The development of healthcare infrastructure beyond major metropolitan centres is also creating opportunities for hospital operators with established regional networks.
Paras Healthcare operates across several northern and eastern Indian markets where demand for tertiary and quaternary care is expanding. Its hospital network provides specialised treatments in areas including oncology, cardiac sciences, neurology and renal care, which require advanced infrastructure and trained medical professionals.
The company has demonstrated higher utilisation of its existing facilities, with bed occupancy increasing to 61.75% in FY26. Revenue from operations grew 24.10% during the same period, supported by improved operating activity.
Its planned expansion in Gurugram and Ludhiana could provide additional capacity for future patient volumes. However, growth will depend on successful project execution, recruitment of medical professionals, occupancy improvements and the management of capital expenditure and borrowings.
The healthcare sector's long-term structural demand provides opportunities for organised hospital networks, although competition, regulatory compliance and operating costs remain important considerations.
- Companies
- Type
- Opening On
-
BLS Polymers
- Mainboard
- 27th Oct
- Pre-Book
-
EAAA India Alternatives
- Mainboard
- 26th Oct
- Pre-Book
-
SFC Environmental Technologies
- Mainboard
- 27th Oct
- Pre-Book
Open Free Demat Account
Be a part of 5paisa community - The first listed discount broker of India.
By proceeding, you agree to all T&C*
FAQs
Paras Healthcare IPO opens on 21 October 2026 and closes on 23 October 2026.
The size of the Paras Healthcare IPO is approximately ₹1,450 crore, comprising a fresh issue of ₹500 crore and an Offer for Sale of ₹950 crore.
The price band of Paras Healthcare IPO is fixed at ₹660 to ₹693 per equity share.
To apply for Paras Healthcare IPO, follow the steps given below:
1. Log in to your 5paisa demat account and select the issue in the current IPO section.
2. Enter the number of lots and the price at which you wish to apply for the Paras Healthcare IPO.
3. Enter your UPI ID and click on submit. Your bid will then be placed with the exchange.
4. You will receive a mandate notification to block funds in your UPI app.
The minimum lot size for Paras Healthcare IPO is 21 shares. The investment required is ₹13,860 at the floor price of ₹660 per share.
The basis of allotment for Paras Healthcare IPO is expected to be finalised on 26 October 2026.
Paras Healthcare IPO is tentatively scheduled to list on BSE and NSE on 28 October 2026.
BofA Securities India Limited, JM Financial Limited and Nuvama Wealth Management Limited are the book-running lead managers for Paras Healthcare IPO.
The main objectives of Paras Healthcare IPO are:
1. Repayment or prepayment of certain outstanding borrowings of Paras Healthcare Limited.
2. Investment in subsidiary Plus Medicare Hospitals Private Limited for repayment or prepayment of outstanding borrowings.
3. Funding general corporate purposes.