
Minimum Investment
About Company
Company Name: Paras Healthcare Limited
Industry / Sector: Healthcare / Hospitals & Diagnostic Centres
Founded Year: December 1987
Promoters: Dr. Dharminder Kumar Nagar
Paras Healthcare Limited is a clinical specialty-led hospital platform providing tertiary and quaternary healthcare services through a network of eight hospitals operating under the 'Paras Health' brand. As of March 31, 2026, the network had an aggregate bed capacity of 2,211 beds spread across five states and one union territory in North India – Gurugram and Panchkula in Haryana; Patna and Darbhanga in Bihar; Ranchi in Jharkhand; and Srinagar in Jammu & Kashmir. The company offers multi-specialty programmes across cardiology, oncology, neurosciences, orthopaedics, gastroenterology, and critical care. It plans to expand its capacity to 3,011 beds by March 2028, with 300 additional beds in Gurugram by Fiscal 2027 and 500 beds in Ludhiana by Fiscal 2028. The company reported consolidated revenue from operations of ₹1,605.95 crore in FY2026 and restated profit after tax of ₹43.83 crore, compared with a loss in FY2025.
IPO Basic Details
| Company Name | Paras Healthcare Limited |
| IPO Type | Mainboard IPO |
| Price Band | ₹660 – ₹693 |
| Lot Size | 21 Shares |
| Total Issue Size | 2,09,23,520 Equity Shares (₹1,450.00 Cr) |
IPO Strengths & Risks
Strengths
- Established hospital network of 8 hospitals with 2,211 beds across North India, Bihar and Jharkhand
- Clinical specialty-led platform with focus on tertiary and quaternary care
- Presence in under-penetrated healthcare markets of Bihar, Jharkhand and Jammu & Kashmir
- Clear capacity expansion roadmap to 3,011 beds by March 2028
- Experienced promoter with deep healthcare sector expertise (Dr. Dharminder Kumar Nagar)
- Improving financial profile with FY26 revenue of ₹1,605.95 crore and EBITDA margin of 20.60%
- Backed by institutional investors including Commelina Ltd (Creador) and 360 ONE
Risks
- History of losses prior to FY2026 (restated loss of ₹57.98 crore in FY2025 and ₹15.33 crore in FY2024)
- Capital-intensive expansion plans subject to execution and regulatory risks
- High debt levels with Debt/Equity ratio of 3.53 as of FY2026
- Dependence on key medical professionals and clinical talent
- Regulatory risks related to healthcare licensing, pricing and quality standards
- Geographic concentration in North India and select states
- Working capital intensive operations with long receivable cycles from insurers/TPAs
IPO Important Dates
| IPO Open Date | 21 Oct 2026 |
| IPO Close Date | 23 Oct 2026 |
| Basis of Allotment | 26 Oct 2026 |
| Refund Initiation | 27 Oct 2026 |
| Demat Credit Date | 27 Oct 2026 |
| Listing Date | 28 Oct 2026 |
| Anchor Investor Date | - |
| UPI Mandate Deadline | - |
IPO Objectives
- Capital expenditure for machinery and equipment – -
- Funding working capital requirements – -
- Debt repayment – -
- General corporate purposes – -
Investor Reservation
| QIB Quota | Not more than 75% of the Net Offer |
| Retail Quota | Not more than 10% of the Offer |
| HNI Quota | - |
| Employee Quota | - |
| Shareholder Quota | - |
| Anchor Investor Allocation | - |
Market Lot Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 21 | ₹14,553 (at upper band) |
| Retail Maximum | 13 Lots | 273 | ₹1,89,189 (at upper band) |
| S-HNI Minimum | 14 Lots | 294 | ₹2,03,742 (at upper band) |
| S-HNI Maximum | 68 Lots | 1,428 | ₹9,89,604 (at upper band) |
| B-HNI Minimum | 69 Lots | 1,449 | ₹10,04,157 (at upper band) |
Key Performance Indicators (KPI)
| ROE | 12.98% (FY26) |
| ROCE | 10.76% (FY26) |
| RoNW | - |
| PAT Margin | 2.69% (FY26) |
| EBITDA Margin | 20.60% (FY26) |
| EPS | ₹4.34 (Pre-IPO, FY26), ₹18.37 (Post-IPO) |
| NAV per share | - |
| Debt to Equity | 3.53 (FY26) |
| P/E Ratio | - |
| Industry P/E | - |
Company Financial Data
| Period | Assets | Total Income | PAT | EBITDA | Net Worth | Borrowings |
|---|---|---|---|---|---|---|
| Q1 FY2027 (Jun 30, 2026) | ₹2,202.88 Cr | ₹470.28 Cr | ₹49.68 Cr | ₹113.48 Cr | ₹444.96 Cr | ₹1,429.49 Cr |
| FY2026 (Mar 31, 2026) | ₹2,071.14 Cr | ₹1,605.95 Cr | ₹43.83 Cr | ₹335.58 Cr | ₹394.94 Cr | ₹1,393.86 Cr |
| FY2025 (Mar 31, 2025) | ₹1,810.45 Cr | ₹1,294.06 Cr | -₹57.98 Cr | ₹156.46 Cr | ₹280.49 Cr | ₹1,232.12 Cr |
| FY2024 (Mar 31, 2024) | ₹1,477.66 Cr | ₹1,129.04 Cr | -₹15.33 Cr | Not Available | ₹338.51 Cr | ₹923.92 Cr |
Grey Market Premium
| GMP Price | ₹83 - ₹96 (as of 18 Oct 2026) |
| Kostak Rate | Not Available |
| Subject to Sauda | Not Available |
| Last Updated | 18 Oct 2026 |
| Estimated Listing Price | ₹776 - ₹789 (approx. 12-14% premium over upper price band) |
IPO Subscription Data
| Total Subscription | 0.00x (Issue opens 21 Oct 2026) |
| QIB (Ex Anchor) | 0.00x |
| HNI Subscription | 0.00x |
| Retail Subscription | 0.00x |
| Anchor | - |
IPO Intermediaries
Registrar: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
Registrar Website: www.in.mpms.mufg.com
IPO Lead Manager(s)
Company Information
Address: 1st Floor, Tower B, Paras Twin Towers, Golf Course Road, Sector 54, Gurugram – 122 002, Haryana, India
Website: https://www.parashospitals.com
Email: cs@parashospitals.com
Phone: +91 124 430 2163
IPO Documents
Frequently Asked Questions (FAQ)
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