Paras Healthcare, a Haryana-based healthcare services provider operating eight hospitals across North India, Bihar and Jharkhand, has filed its red herring prospectus with the Registrar of Companies on October 14. According to reports from Moneycontrol and The Hindu BusinessLine, the company has fixed the price band at ₹660-693 per share for its ₹1,450-crore maiden public issue, valuing the company at ₹7,500 crore. The anchor book will open for institutional investors on October 19, with the company announcing the price band on October 15. The IPO will open for public subscription on October 21 and close on October 23, with Paras Healthcare likely to make its market debut on the BSE and National Stock Exchange on October 28. The Gurugram-based firm operates a network of hospitals under the Paras Health brand with a presence across five states and one Union Territory.
The IPO comprises a fresh issue of equity shares worth ₹500 crore and an offer for sale (OFS) of ₹950 crore. As reported by Moneycontrol and The Hindu BusinessLine, Nagar and Commelina, affiliates of Malaysian private equity firm Creador, will sell shares worth ₹300 crore and ₹650 crore, respectively. The IPO size has been reduced from ₹1,800 crore originally planned as per the draft papers refiled in June 2026, with SEBI subsequently clearing the IPO papers in August 2026. As part of the OFS, promoter Dharminder Kumar Nagar and investor Commelina Ltd will offload shares, with the Gurugram-based firm having reduced the issue size from its earlier planned amount.
According to Moneycontrol and The Hindu BusinessLine, investors can place bids for a minimum of 21 equity shares and in multiples of 21 shares thereafter. The minimum investment by retail investors in the public issue would be ₹14,553 and the maximum would be ₹1,89,189. The company has reserved 75 percent of the public issue size for qualified institutional buyers, 15 percent for non-institutional investors, and the remainder 10 percent for retail investors. JM Financial, BofA Securities India, and Nuvama Wealth Management are acting as the merchant bankers for managing the Paras Healthcare IPO, while MUFG Intime India serves as the registrar. The equity shares are expected to list on the bourses on October 28.
As reported by Moneycontrol and The Hindu BusinessLine, Paras Healthcare plans to use ₹375 crore from the net proceeds of the fresh issue to repay debt, with its consolidated outstanding fund-based debt standing at ₹888.9 crore. The remaining proceeds will be used for general corporate purposes. The company intends to add hospitals with 300 beds in Gurugram and 600 beds in Ludhiana, with these facilities expected to be launched in the current fiscal year and next, respectively. The company aims to increase its total bed capacity to 3,011 by March 2028. According to the company's RHP, Paras Healthcare has planned to add two more hospitals with a capacity of 300 beds in Gurugram and 500 beds in Ludhiana by FY27 and FY28, respectively.
According to Moneycontrol, for the quarter ended June 2026, the company reported a net profit of ₹49.6 crore, compared with a loss of ₹1 crore in the corresponding quarter of the previous fiscal year. Revenue rose 27.7% to ₹470.3 crore from ₹368.4 crore. For the financial year ended March 2026, net profit stood at ₹43.8 crore, compared with a loss of ₹57.9 crore in the previous year, with revenue rising 24.1% to ₹1,606 crore from ₹1,294 crore.
