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InvestmentsIPOParas Healthcare IPO

Paras Healthcare IPO

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Open Date

21 Oct 2026

Close Date

23 Oct 2026

Min Investment

₹ 13,860

Lot Size

21

Issue Size

₹ 1450.00 Cr

Price Range

₹ 660 - ₹ 693

Subscribed

-
Pre-Apply Now
status

This IPO is Open for Pre Apply.

IPO Timeline
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IPO Offer Start
21 Oct 2026
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IPO Offer Ends
23 Oct 2026
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Allotment Finalisation
26 Oct 2026
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Refund Initialisation
27 Oct 2026
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Non-Institutional Buyers (sHNI)
27 Oct 2026
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Listing of Shares
28 Oct 2026
IPO Subscription Details as on 21 Oct 2026, 09:19 AM

No Subcription Details for this IPO

IPO subscription details, if any,
will appear here

Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
Paras Health is a clinical specialty-led hospital platform providing tertiary and quaternary healthcare services through a network of eight hospitals with an aggregate bed capacity of 2,211 beds across North India, Bihar, and Jharkhand, operating in five states and one union territory. The company has a 20-year operating history with deep focus on CONGOR specialties (cardiac, oncology, neuro, gastro, orthopedics, and renal sciences), which accounted for ~74% of revenue from operations in Q1 FY2027. Revenue from operations grew at a CAGR of 19.26% from ₹11,290 million in FY2024 to ₹16,060 million in FY2026, while EBITDA expanded at a CAGR of 47.41% over the same period. The company plans to expand its total bed capacity to 3,011 beds by March 2028 through greenfield and brownfield additions in Gurugram and Ludhiana.
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Founded In

1987

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Director

Dr. Kapil Garg

Financials of Paras Healthcare IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2024Mar 2025Mar 2026
Operating Revenue1,129.041,294.061,605.95
Other Income21.9820.1422.83
Total Income
1,151.021,314.211,628.78
Total Expenses
1,144.391,364.241,552.75
Profit Before Tax6.63-50.0476.03
Total Profit
-15.33-57.9843.83

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company intends to utilize a portion of the Net Proceeds towards prepayment or scheduled re-payment, in full or part, of certain outstanding borrowings availed by the company, including accrued interest and prepayment charges, to reduce overall indebtedness and improve debt-equity ratio.321
The company proposes to invest in its wholly owned subsidiary, PMHPL (which also operates the hospital in Srinagar), through debt, to repay or prepay in full or part certain borrowings availed by PMHPL, thereby reducing consolidated indebtedness and improving the debt-equity ratio.54
The balance Net Proceeds, not exceeding a specified percentage of Gross Proceeds as per SEBI ICDR Regulations, are intended to be deployed towards general corporate purposes including organic and inorganic growth, capital expenditure, marketing, working capital, and business development initiatives.-
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  • One of the Largest Healthcare Providers in North India, Bihar and Jharkhand with a First Mover Advantage and a Well-Recognized Brand: The company is one of the largest healthcare providers in North India, Bihar and Jharkhand with 2,211 beds across 8 hospitals as of June 30, 2026, holding first-mover positions in key markets such as Gurugram, Patna, Panchkula, Srinagar, and Kanpur, with a patient satisfaction score of 90.60 and net promoter score of 93.31 as of March 31, 2026.
  • Strong Focus on Tertiary and Quaternary Care with High Contribution from CONGOR Specialties: The company's hospitals are designed to deliver high-acuity tertiary and quaternary care, with CONGOR specialties (cardiac, oncology, neuro, gastro, orthopedics, renal sciences) contributing 74.35%, 75.30%, 74.70%, 71.92%, and 72.34% of revenue from operations in Q1 FY27, Q1 FY26, and Fiscals 2026, 2025, and 2024, respectively, supported by 559 ICU beds as of June 30, 2026.
  • Capital-Efficient and Flexible Operating Model with Disciplined Expansion: The company operates hospitals through a calibrated mix of owned, leased, revenue-sharing, and public-private partnership models, enabling lower upfront capital intensity and faster market entry; capital expenditure per bed stood at ₹7.70 million as of June 30, 2026, reflecting an efficient hospital design philosophy.
  • Delivering High-Quality Clinical Care Through Renowned Clinicians, Supported with Modern Equipment: The company's clinical model is anchored by 1,084 doctors and 1,937 nurses as of June 30, 2026, including 3 Padma Shri awardees, supported by advanced equipment such as biplane cath labs, LINACs, surgical robots, and PET-CT scanners, with DNB/DrNB programs training up to 60 students annually across 14 specialties.
  • Digital Technology Enabling Clinical Effectiveness, Patient Experience and Operational Efficiencies: The company has established a cloud-first digital ecosystem comprising an omni-channel patient experience platform, integrated EHR system, doctor mobile application, and business intelligence platforms integrated with HIS and ERP systems, enhancing scalability, agility, and operational efficiency across the hospital network.
  • Doctor-Led Professional Management Team with Proven Execution Capabilities: The company's management is led by Dr. Dharminder Kumar Nagar (22+ years of healthcare experience) alongside a senior team with deep functional expertise, including a CFO with 38+ years of experience and a COO with 22+ years of experience, collectively driving a revenue CAGR of 19.26% from Fiscal 2024 to Fiscal 2026.

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