Paras Healthcare Limited
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Paras Healthcare Limited's is set to enter the public markets with an IPO valued at 2,09,23,520 Shares. The offering structure includes 72,15,007 Shares in fresh equity issuance and ₹950.00 Cr in shares offered by existing shareholders through the OFS route.
The company has established a price band of ₹660 to ₹693 per equity share, with the minimum bidding lot set at 21 shares. This pricing strategy aims to balance investor interest with fair valuation considerations.
subscription for this public issue will be accepted from Oct 21, 2026 until Oct 23, 2026. The allotment process will be finalized on Oct 26, 2026, paving the way for the stock's debut on the trading floor of NSE, BSE on Oct 28, 2026.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Paras Healthcare Limited, incorporated in December 1987 as Arbian Frozen Foods Private Limited, is a clinical specialty-focused hospital platform providing tertiary and quaternary healthcare services across North India, Bihar and Jharkhand under the “Paras Health” brand. As of March 31, 2026, the company operated eight hospitals with a combined capacity of 2,211 beds across Gurugram, Panchkula, Patna, Darbhanga, Kanpur, Udaipur, Ranchi and Srinagar. Its key clinical specialties include cardiac sciences, oncology, neurosciences, gastro sciences, orthopedics and sports injury, and renal sciences, collectively contributing 74.70% of revenue in Fiscal 2026. With more than 20 years of operating experience, Paras Healthcare follows a balanced expansion strategy covering mature, emerging and new hospitals. The company plans to add a 300-bed hospital in Gurugram and a 500-bed hospital in Ludhiana, taking its total bed capacity to 3,011 by March 2028. As of March 31, 2026, the company had 4,670 employees, including 1,011 doctors and 1,665 nurses.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
The expected premium (GMP) is based on market buzz and unofficial trading. It should not be considered as the guaranteed listing price. Always refer to the RHP and seek advice from a financial expert before making investment decisions.
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- Large Healthcare Network & First-Mover Advantage: The company is one of the largest healthcare providers in North India, Bihar and Jharkhand by bed capacity, with 2,211 beds across eight hospitals as of June 30, 2026. Several hospitals were among the first corporate hospitals in their respective markets.
- Strong Focus on Specialized Treatment: Cardiac, oncology, neuro, gastro, orthopedics and renal care contributed 74.70%, 71.92% and 72.34% of operating revenue in FY2026, FY2025 and FY2024, respectively. The company also has dedicated ICU facilities and transplant programs.
- Flexible & Cost-Efficient Business Model: The company operates hospitals through owned, leased, revenue-sharing and public-private partnership models, supporting cost-efficient expansion. Its capital expenditure per bed was ₹7.70 million as of June 30, 2026.
- History of Losses: The company reported consolidated losses of ₹10.24 million, ₹579.83 million and ₹153.31 million in the three months ended June 30, 2025, FY2025 and FY2024, respectively. There is no guarantee that the profitability achieved in FY2026 will continue.
- Losses in Subsidiaries: Its subsidiaries, PHRPL and PMHPL, reported combined losses of ₹203.82 million, ₹520.89 million, ₹822.38 million and ₹872.69 million in the three months ended June 30, 2025, FY2026, FY2025 and FY2024, respectively, as their hospitals continue to expand operations.
- High Employee Attrition: The company experienced high attrition among doctors, nurses and other staff, with rates of 12.01%, 16.09%, 60.38%, 66.74% and 65.27% during the relevant periods. Failure to retain staff could affect service quality and business operations.
- Dharminder Kumar Naga
Paras Healthcare Limited
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