Paras Healthcare files DRHP with SEBI for ₹1,800 crore IPO

Hospital chain Paras Healthcare filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering.

The proposed ₹1,800 crore initial share sale is a mix of fresh issuance of shares worth ₹500 crore and an offer for sale (OFS) of ₹1,300 crore by promoter Dr Dharminder Kumar Nagar and investor selling shareholders.

The fresh issue proceeds will be used for debt repayment of the company and its wholly owned subsidiary, and general corporate purposes.

"Our company expects to receive the benefits of listing its equity shares on the stock exchanges, including enhancing its visibility and brand image, and creating a public market for our equity shares," according to the DRHP.

BofA Securities India, JM Financial and Nuvama Wealth Management are the issue's book-running lead managers, while MUFG Intime India is the registrar.

The company's shares will be listed on the National Stock Exchange (NSE) and the BSE.

About Paras Healthcare

Paras Healthcare is a clinical speciality-led hospital platform offering tertiary and quaternary healthcare services through a network of eight hospitals in Haryana, Bihar, Uttar Pradesh, Rajasthan, Jharkhand and Jammu & Kashmir. It has an aggregate bed capacity of 2,211 beds.

The company said that it has a committed pipeline for expansion of its network, with the planned addition of a 300-bed hospital in Gurugram and a hospital with a bed capacity of 500 in Ludhiana by Fiscal 2027 and Fiscal 2028, respectively. We expect to increase our total bed capacity across our hospitals to 3,011 beds by March 31, 2028.

Over the last three financial years, on a consolidated basis, the company has shown strong growth driven by an increase in patient volumes across its hospitals. Its revenue from operations has grown at a CAGR of 19.26% from ₹1,129.03 crore in FY24 to ₹1,605.95 crore in FY26.