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Paras Healthcare IPO

Paras Healthcare IPO

Hospital & Healthcare Services
upcoming
₹13,860Min. investment

Paras Healthcare Limited IPO Details

SectorHospital & Healthcare Services
Price range₹660 – ₹693
IPO type
Regular
Lot size21 shares
Issue size₹1,450Cr
Red Herring Prospectus
Read
Market cap
₹7,498.3CrLower than sector avg
RevenueApr 0 - Mar 1
₹1,605.9CrHigher than sector avg
Growth rate3Y CAGR
19.26%

Paras Healthcare IPO Timeline

  1. Pre-apply
    To be announced
  2. Bid start
    21 Oct 2026
  3. Bid end
    23 Oct 2026
  4. Allotment
    26 Oct 2026
  5. Release of funds
    27 Oct 2026
  6. Demat transfer
    27 Oct 2026
  7. Listing
    28 Oct 2026

About Paras Healthcare Limited

Paras Healthcare operates a hospital network providing tertiary and quaternary healthcare services. As of June 30, 2026, its network comprised eight hospitals with an aggregate capacity of 2,211 beds, spread across Haryana, Bihar, Uttar Pradesh, Rajasthan, Jharkhand and Jammu and Kashmir. Its hospitals serve markets including Gurugram, Panchkula, Patna, Darbhanga, Kanpur, Udaipur, Ranchi and Srinagar.
The company focuses on complex clinical specialities comprising cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics and sports injury, and renal sciences, collectively termed “CONGOR”. These specialities contributed 74.7% of revenue in FY26 and 74.3% in Q1FY27. Its clinical infrastructure supports advanced procedures and intensive care, backed by a network-wide team of 1,084 doctors and 1,937 nurses as of June 30, 2026.
The company differentiates its hospitals by operational maturity. Gurugram, Patna, Panchkula and Darbhanga constitute its mature facilities; Ranchi and Udaipur are classified as emerging hospitals; and Srinagar and Kanpur are classified as new hospitals. This portfolio combines established operations with facilities still increasing patient volumes. The company attributes its recent margin improvement partly to higher utilisation and operating leverage as emerging and new hospitals scale up.
The network had 1,502 operational beds as of June 30, 2026. Occupancy increased from 50.7% in FY25 to 61.7% in FY26, reaching 69.7% in Q1FY27. Average revenue per occupied bed stood at ₹49,351.70 per day in Q1FY27. Occupied bed days were 338,321 in FY26, against 254,716 in FY24. Average length of stay improved from 3.14 days in FY24 to 2.93 days in FY26. In FY26, in-patient volume was 115,496 and out-patient volume was 778,707.
Paras operates through owned, leased, revenue-sharing and public-private partnership arrangements. Its expansion pipeline includes a 300-bed hospital in Gurugram, targeted for launch in FY27, and a 500-bed hospital in Ludhiana, targeted for FY28. These additions would increase total bed capacity to 3,011 beds by March 31, 2028. The stated timelines are management targets and remain dependent on approvals, construction progress and resource availability.
India’s healthcare delivery market is estimated at ₹7.6 to ₹7.8 lakh crore in FY26, compared with approximately ₹7.0 lakh crore in FY25. It projects the market to reach ₹11.2 to ₹12.2 lakh crore by FY30, representing 10% to 12% CAGR over FY25-FY30. Demand drivers include rising incomes, changing demographics, lifestyle-related ailments, medical tourism and government-supported healthcare access. These figures include estimates and forecasts.
Within healthcare delivery, inpatient services account for a substantial share of expenditure because of the greater complexity and cost of treatment. The RHP’s industry assessment estimates inpatient services at 71% to 72% of the FY25 market and projects a 10.5% to 12.5% CAGR over FY25-FY30. This provides an industry backdrop for speciality hospitals, although translating demand into profitable growth requires adequate clinical staffing, efficient capacity deployment and timely collection of patient and payer dues.
Now, Paras Healthcare is launching its Initial public offering (IPO), which consists of a fresh issue of ₹500 crore and an offer for sale of ₹950 crore. The total issue size of the IPO is ₹1,450 crore. Its shares will be listed on the NSE and BSE.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

Established regional hospital network

Paras operates eight hospitals with 2,211 beds of total capacity, supported by an established presence in its selected markets. The combination of mature and developing hospitals provides both an operating base and scope for further utilisation improvements.

Speciality-led clinical offering

CONGOR specialities generated 74.7% of FY26 revenue. The focus on complex care, supported by specialist clinicians and advanced equipment, provides a foundation for differentiated clinical programmes and referral relationships.

Improving occupancy and operating leverage

Occupancy rose to 69.7% in Q1FY27, compared with 56.7% in Q1FY26. Operating EBITDA margin increased to 22.3% from 16.4% over the same periods, indicating that higher activity levels are translating into improved operating profitability.

Identified expansion pipeline

The planned Gurugram and Ludhiana hospitals would add 800 beds, taking total capacity to 3,011 beds by March 2028. This provides a defined growth pipeline, subject to timely commissioning, staffing and patient-volume development.

Objectives of Paras Healthcare Limited IPO

Repayment of loan
64.10%
The company will use ₹320.90 crore for repayment of the loan availed by the business.
General corporate purposes
25.00%
Part of the IPO proceeds will be used for general corporate purposes and issue expenses.
Investment in subsidiary
10.80%
The company will invest ₹54.10 crore in the subsidiary for repayment/prepayment of the loan.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹1,605.9Cr19.26%₹43.8Cr₹7,498.3Cr159.683.53
This sector (avg.)₹810.55Cr---₹87.66Cr₹10,075.9Cr55.140.40
₹21,794Cr---₹1,472.1Cr₹1,00,081.3Cr59.860.96
₹7,028.46Cr---₹1,075.88Cr₹93,096.78Cr68.940.32
₹7,782.75Cr---₹809.39Cr₹64,284.69Cr63.430.28

*Revenue for financial year 0-1. Lower P/E and D/E ratios are generally preferred.

Paras Healthcare IPO Contact Details

Company NameParas Healthcare Limited

How to apply for Paras Healthcare IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Paras Healthcare Limited IPO FAQs

Investors can apply for the Paras Healthcare IPO through their Demat account via the stock exchange or through their broker.
The issue size of the Paras Healthcare IPO is 1450 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Paras Healthcare IPO will be open between 2026-10-21 and 2026-10-23.
Paras Healthcare IPO allotment date is 2026-10-27. For Paras Healthcare IPO allotment status check, you can visit the website of the registrar of the IPO.
For Paras Healthcare IPO, the IPO registrar is MUFG Intime India Private Limited. You can check Paras Healthcare IPO allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Paras Healthcare IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Paras Healthcare IPO lot size is 21 and minimum order quantity is 21.
Paras Healthcare IPO has set the price band for its IPO at 693 per equity share with a face value of 1.