PARAS HEALTHCARE IPO
PARAS HEALTHCARE is a MAINBOARD IPO with a current status of UPCOMING. The price band is 660 - 693 . The issue opens on 21 OCT and closes on 23 OCT. The listing date is 28 OCT.
Price Band
660 - 693
Unofficial GMP
₹95
Lot Size
21 shares
Minimum Investment
₹14,553
PARAS HEALTHCARE IPO GMP
The latest available GMP is ₹95. Grey Market Premium is unofficial, may change frequently and does not guarantee the listing price, listing gains or investment returns.
Estimated Listing Price
₹788.00
Estimated Gain
+13.7%
PARAS HEALTHCARE IPO GMP History
83
14 OCT
95
15 OCT
95
16 OCT
PARAS HEALTHCARE IPO Details
- IPO Type
- MAINBOARD
- Status
- UPCOMING
- Price Band
- 660 - 693
- Issue Size
- ₹1450.00 Cr
- Issue Type
- Book Build Issue
- Fresh Issue
- ₹500.00 Cr
- Offer for Sale
- ₹950.00 Cr
- Face Value
- 1 Per Equity Share
- Lot Size
- 21
- Minimum Investment
- 14,553
- Exchange
- BSE , NSE
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead Managers
- JM Financial Ltd.
PARAS HEALTHCARE IPO Dates
- Open Date
- 21 OCT
- Close Date
- 23 OCT
- Allotment Date
- 26 OCT
- Refund Date
- 27 OCT
- Demat Credit Date
- 27 OCT
- Listing Date
- 28 OCT
PARAS HEALTHCARE IPO Subscription
- QIB
- --
- NII / HNI
- --
- Retail
- --
- Employee
- --
- Total Subscription
- --
PARAS HEALTHCARE IPO Financials
Revenue
FY2026
₹1,606.00 Cr
+24.11% vs FY2025
PAT
FY2026
₹43.83 Cr
+175.60% vs FY2025
Total Assets
FY2026
₹2,017.00 Cr
+11.44% vs FY2025
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | 1,129 | 1,294 | 1,606 |
| Net Profit | -15.33 | -57.98 | 43.83 |
| Total Assets | 1,478 | 1,810 | 2,017 |
PARAS HEALTHCARE IPO Valuation
- Market Cap (Post IPO)
- ₹7498.34 Cr.
- EPS
- 4.34
- P/E Ratio
- 159.68
- Price to Book Value
- 15.73
- ROE
- 11.83%
- ROCE
- 4.23%
- RONW
- 11.83%
- Debt / Equity
- 3.21%
- PAT Margin
- 10.38%
- EBITDA Margin
- 23.70%
PARAS HEALTHCARE Peer Comparison
| Peer | Revenue | PAT | EPS | P/E | ROE | RONW | Debt / Equity |
|---|---|---|---|---|---|---|---|
| ASTER DM QUALITY | 4,643.22 | -- | 7.53 | 91.89x | -- | 9.70% | -- |
| APOLLO HOSPITALS ENTERPRISE | 25,228.50 | -- | 135.04 | 59.36x | -- | 21.95% | -- |
| FORTIS HEALTHCARE | 9,127.84 | -- | 13.80 | 55.43x | -- | 11.08% | -- |
PARAS HEALTHCARE IPO Market Lot
| Category | Lots | Shares | Investment |
|---|---|---|---|
| Retail Minimum | 1 | 21 | ₹14,553 |
| Retail Maximum | 13 | 273 | ₹1,89,189 |
| Small HNI | 14 | 294 | ₹2,03,742 |
| Big HNI | 69 | 1,449 | ₹10,04,157 |
PARAS HEALTHCARE IPO Reservation
- QIB
- 75%
- NII / HNI
- 15%
- Retail
- 10%
PARAS HEALTHCARE Promoter Holding and Anchor Allocation
- Pre-IPO Promoter Holding
- 72.80%
- Post-IPO Promoter Holding
- 0.00%
PARAS HEALTHCARE Company Overview
1. **Company Background:** Paras Healthcare Limited is an Indian hospital operator that provides specialised medical services through its Paras Health hospital network. 2. **Brand Name:** The company operates under the **Paras Health** brand. 3. **Hospital Network:** The company operates eight hospitals across North India, Bihar and Jharkhand, according to its IPO disclosures. 4. **Bed Capacity:** Its reported network has approximately 2,211 beds, serving patients across multiple medical specialties. 5. **Core Healthcare Services:** Its services include multispecialty treatment, tertiary care and advanced quaternary care for complex medical conditions. 6. **Specialised Treatment:** The hospital network provides services in areas such as cardiology, cardiac surgery, oncology, neurology, neurosurgery, orthopaedics and other specialised disciplines. 7. **Patient Services:** Its operations include outpatient consultations, inpatient treatment, diagnostic services, surgical procedures, emergency care and intensive care. 8. **Geographic Presence:** The company has a presence in Gurugram, Panchkula, Patna, Darbhanga, Udaipur and other North Indian markets through its hospital network. 9. **Expansion Plans:** The company has disclosed plans for additional hospital capacity, including a proposed 300-bed facility in Gurugram and a 600-bed facility in Ludhiana. 10. **Revenue Growth:** Revenue from operations increased from approximately ₹1,294 crore in FY2025 to ₹1,606 crore in FY2026. 11. **Profitability:** The company reported a consolidated loss of approximately ₹57.98 crore in FY2025, followed by a profit of approximately ₹43.83 crore in FY2026. 12. **Promoter:** Dr. Dharminder Kumar Nagar is the company's founder and promoter. 13. **Business Model:** Revenue is generated primarily through hospital treatment, procedures, diagnostics, consultations and related healthcare services. 14. **IPO Structure:** The proposed IPO comprises a fresh issue of shares and an Offer for Sale (OFS) by existing shareholders. 15. **IPO Schedule:** The issue is scheduled to open on **21 October 2026** and close on **23 October 2026**, according to published issue details.
PARAS HEALTHCARE Business Model
1. **Multispecialty Hospitals:** Operates hospitals offering a range of medical specialties, diagnostic facilities and inpatient and outpatient services. 2. **Cardiology and Cardiac Surgery:** Provides services for heart-related conditions, including cardiac evaluation, treatment and surgical procedures. 3. **Oncology:** Offers cancer diagnosis and treatment services, potentially including medical oncology, surgical oncology and radiation-based treatment. 4. **Neurology and Neurosurgery:** Treats disorders affecting the brain, spine and nervous system through specialist consultations, diagnostics and surgical care. 5. **Orthopaedics:** Provides treatment for bone, joint and musculoskeletal conditions, including trauma care and orthopaedic surgery. 6. **Critical Care:** Operates intensive-care facilities for patients requiring close monitoring, advanced support and treatment for serious medical conditions. 7. **Emergency Services:** Provides emergency evaluation and treatment for acute illnesses, injuries and other urgent medical conditions. 8. **Diagnostics:** Generates revenue through diagnostic testing, imaging and investigations used in patient assessment and treatment planning. 9. **Outpatient Services:** Offers consultations and follow-up care through specialist doctors and outpatient departments. 10. **Inpatient Treatment:** Provides hospital admission, medical management, nursing care, surgical procedures and recovery services. 11. **Hospital Expansion:** Plans to increase capacity through new hospitals and additional beds, including proposed developments in Gurugram and Ludhiana. 12. **Regional Healthcare Network:** Serves patients across North India, Bihar and Jharkhand, attracting demand for both routine and specialised medical services. 13. **Medical Infrastructure:** Depends on hospital buildings, medical equipment, technology, trained healthcare professionals and support staff to deliver services. 14. **Patient-Focused Care:** Its business relies on clinical quality, patient experience, doctor relationships, reputation and effective hospital management.
PARAS HEALTHCARE Objects of the Issue
1. **Type of Issue:** Book-built Initial Public Offering comprising a fresh issue and an Offer for Sale (OFS). 2. **Total Issue Size:** Approximately ₹1,450 crore at the upper end of the reported price band. 3. **Fresh Issue:** Up to approximately ₹500 crore, with proceeds going to the company. 4. **Offer for Sale:** Approximately ₹950 crore of shares offered by existing shareholders. 5. **Repayment of Borrowings:** Approximately ₹375 crore from the fresh issue proceeds is intended for repayment or prepayment of certain outstanding borrowings. 6. **Debt Reduction:** The proposed repayment is intended to reduce the company's borrowing burden and associated financing costs. 7. **General Corporate Purposes:** The balance of the fresh issue proceeds is intended for general corporate purposes, subject to the final offer documents. 8. **Proceeds to Selling Shareholders:** The OFS proceeds will go to the shareholders selling their shares, not to Paras Healthcare. 9. **No Direct Fresh Capital from OFS:** Only the fresh issue provides new funds to the company; the OFS component represents a transfer of ownership. 10. **Expansion Funding:** Investors should not assume that the entire IPO proceeds will finance new hospitals. The stated use of proceeds primarily includes debt repayment and general corporate purposes. 11. **Final Allocation:** The precise amounts and terms should be confirmed against the company's RHP and final prospectus before publication.
PARAS HEALTHCARE Strengths
1. **Established Hospital Brand:** Paras Health has an established presence in regional healthcare markets and a recognised hospital brand. 2. **Multi-Hospital Network:** Operating multiple hospitals provides a platform for regional expansion, shared expertise and operational coordination. 3. **Specialised Healthcare Focus:** Its emphasis on tertiary and quaternary care supports treatment of complex medical conditions. 4. **Broad Specialty Coverage:** Services across cardiology, oncology, neurology, orthopaedics and other specialties help attract a diverse range of patients. 5. **Revenue Growth:** Revenue from operations grew from approximately ₹1,294 crore in FY2025 to ₹1,606 crore in FY2026. 6. **Return to Profitability:** The company reported a profit of approximately ₹43.83 crore in FY2026 after a loss in FY2025, although the sustainability of this improvement needs assessment. 7. **Regional Presence:** Its hospitals serve markets across North India, Bihar and Jharkhand, including areas where access to advanced healthcare may be important. 8. **Existing Medical Infrastructure:** Its established hospital facilities, equipment and clinical teams provide an operating base for future growth. 9. **Potential Capacity Expansion:** Planned developments in Gurugram and Ludhiana could increase bed capacity and treatment volumes if completed successfully. 10. **Growing Healthcare Demand:** Population growth, increased health awareness, rising incomes and demand for specialised treatment may support the long-term hospital sector. 11. **Multiple Revenue Streams:** Consultations, surgeries, inpatient care, diagnostics and other hospital services provide different sources of revenue. 12. **Potential Debt Reduction:** The planned use of ₹375 crore of fresh issue proceeds for debt repayment could reduce interest costs and improve financial flexibility. 13. **Experienced Healthcare Management:** Hospital operations require coordination between doctors, administrators, clinical teams and support functions, creating value from established operational experience. 14. **Economies of Scale:** A larger hospital network may enable shared procurement, centralised functions and better utilisation of certain resources. 15. **Public-Market Access:** Listing can increase visibility and provide liquidity to existing shareholders while creating a listed-market valuation for the company.
PARAS HEALTHCARE Risks
1. **Recent Losses:** The company reported a consolidated loss of approximately ₹57.98 crore in FY2025 before returning to profit in FY2026. Investors should assess whether the improvement is sustainable. 2. **High Capital Requirements:** Hospitals require substantial investment in buildings, equipment, technology, maintenance and clinical infrastructure. 3. **Borrowings:** Reported consolidated outstanding fund-based debt was approximately ₹888.9 crore. Debt repayment through the IPO would reduce only part of the overall burden. 4. **Doctor Dependence:** Attracting and retaining experienced doctors and other healthcare professionals is critical to service quality and hospital performance. 5. **Regulatory Compliance:** Hospitals must comply with clinical, medical, fire-safety, environmental, labour and other applicable regulations. Non-compliance could lead to penalties or operational restrictions. 6. **Clinical and Patient-Safety Risk:** Medical errors, treatment complications, infections or other adverse outcomes may result in legal claims, reputational harm and additional costs. 7. **Competition:** The company competes with large hospital chains, regional hospitals, specialist centres and other healthcare providers for patients, doctors and clinical staff. 8. **Occupancy and Utilisation Risk:** Revenue and profitability depend partly on bed occupancy, procedure volumes, average revenue per patient and efficient use of hospital facilities. 9. **Expansion Execution:** New hospitals and additional beds may face construction delays, cost overruns, recruitment challenges, licensing delays or slower-than-expected patient demand. 10. **Geographic Concentration:** Its concentration in North India, Bihar and Jharkhand exposes it to regional competitive conditions, local economic factors and changes in patient demand. 11. **Insurance and Payment Delays:** Delays in receiving payments from insurers, government schemes and other institutional payers may increase receivables and working-capital requirements. 12. **Medical Inflation:** Rising costs of medicines, consumables, equipment, utilities and salaries may pressure margins if the company cannot offset them through pricing or efficiency. 13. **Dependence on Reputation:** Patient trust, doctor referrals and clinical outcomes are important to hospital demand. Negative publicity or a significant clinical incident could affect patient volumes. 14. **Technology and Cybersecurity:** Hospitals handle sensitive patient information and depend on digital systems. Data breaches, cyberattacks or system outages could disrupt services and create legal exposure. 15. **OFS Component:** A substantial portion of the IPO is an OFS. Proceeds from this component go to selling shareholders rather than funding the company's operations. 16. **Use-of-Proceeds Risk:** The expected benefits of debt reduction depend on actual deployment of the proceeds and the company's ability to manage remaining debt and operating costs. 17. **Profitability Volatility:** The return to profit in FY2026 follows losses in earlier years. Changes in occupancy, costs, interest expense and expansion expenditure may affect future results. 18. **Valuation Risk:** Investors should compare the IPO valuation with sustainable earnings, debt, cash flow, hospital capacity and listed hospital-sector peers. 19. **Healthcare Policy Changes:** Changes in pricing regulations, reimbursement rates, public healthcare schemes or insurance policies could affect hospital revenue and margins. 20. **Execution of Growth Plans:** Planned capacity expansion will create value only if new facilities open on schedule, attract qualified clinicians and achieve adequate patient volumes.
PARAS HEALTHCARE Frequently Asked Questions
What is the PARAS HEALTHCARE IPO price band?
The PARAS HEALTHCARE IPO price band is 660 - 693 .
What is the latest PARAS HEALTHCARE IPO GMP?
The latest available PARAS HEALTHCARE IPO GMP in the IPOWEB database is ₹95. GMP is unofficial and does not guarantee a listing gain.
When does the PARAS HEALTHCARE IPO open and close?
The PARAS HEALTHCARE IPO opens on 21 OCT and closes on 23 OCT.
When is the PARAS HEALTHCARE IPO allotment date?
The PARAS HEALTHCARE IPO allotment date is 26 OCT.
When is the PARAS HEALTHCARE IPO listing date?
The PARAS HEALTHCARE IPO listing date is 28 OCT.