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Paras Healthcare IPOUPCOMING
Paras Healthcare Limited operates a multi-specialty hospital chain under the Paras Health brand, offering advanced treatments across cardiac, oncology, neurological and other key specialties.
Opens
21 Oct 26Closes
23 Oct 26Allotment
26 Oct 26Refund
27 Oct 26Demat
27 Oct 26Listing
28 Oct 26Bidding opens
in 6 days
21 – 23 Oct
Retail bids until 5:00 PM, other categories until 4:00 PM on the closing day.
Overview
Price band
₹660-693
Lot size
21 shares
Min. investment
₹14,553
Issue size
₹1450.00 Cr
2.09 Cr shares
Fresh issue
₹500 Cr
72.15 L shares
Offer for sale
₹950 Cr
1.37 Cr shares
Face value
₹1 / share
Issue type
Book Built Issue
Listing at
NSE, BSE
Reservation
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 21 | ₹14,553 |
| Retail (Max) | 13 | 273 | ₹1,89,189 |
| S-HNI (Min) | 14 | 294 | ₹2,03,742 |
| S-HNI (Max) | 68 | 1,428 | ₹9,89,604 |
| B-HNI (Min) | 69 | 1,449 | ₹10,04,157 |
Paras Healthcare Live GMP
Not enough GMP history yet to draw a trend.
Subscription
Live category-wise bids appear here once bidding opens on 21 Oct 26. Reserved share of the issue:
Financials
(₹ in crores)
Key performance indicators
As of 30 Jun 2026ROE
11.83%
PAT Margin
10.38%
ROCE
4.23%
EBITDA Margin
23.7%
Debt to Equity Ratio
3.21
RoNW
11.83%
Valuation vs listed peers
EPS Pre IPO
₹4.34
EPS Post IPO
₹18.37
P/E Pre IPO
159.68
P/E Post IPO
37.72
Price-to-earnings
| Company | P/E | P/B | RoNW | Face value |
|---|---|---|---|---|
| Aster DM Quality Care Limited | 91.89 | — | — | ₹10 |
| Apollo Hospitals Enterprise Limited (“AHEL”) | 59.36 | — | — | ₹5 |
| Fortis Healthcare Limited (“FHL”) | 55.43 | — | — | ₹10 |
| Global Health Limited (“GHL”) | 64.46 | — | — | ₹2 |
| Jupiter Lifeline Hospitals Limited (“JLHL”) | 42.92 | — | — | ₹2 |
| Krishna Institute of Medical Sciences Limited (“KIMS”) | 116.41 | — | — | ₹2 |
| Manipal Health Enterprises Limited | 87 | — | — | ₹2 |
| Max Healthcare Institute Limited | 62.1 | — | — | ₹10 |
| Narayana Hrudayalaya Limited | 43.41 | — | — | ₹10 |
| Yatharth Hospital and Trauma Care Services Limited | 55.16 | — | — | ₹10 |
Peer median P/E 60.7× · Ratios as disclosed in the offer document.
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
+41.5%
P/E vs peer median
37.7× vs 60.7×
- PAT margin 10.4% and ROCE 4.2%.
- Priced below its listed-peer median P/E.
Strengths & risks
- Strong Regional Presence with 8 hospitals and 2,211 beds.
- Specialty Expertise with CONGOR contributing 74.70% of FY2026 revenue.
- Revenue Growth with 19.26% CAGR in FY2024–FY2026.
- Recognised Brand with an established presence in North India.
- Expansion Plans targeting 3,011 beds by March 2028.
Buzz score · Watch
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Prepayment or scheduled re-payment, in full or part, of certain outstanding borrowings availed by Company. | 320.9 |
| Investment in the wholly owned Subsidiary, PMHPL (which also operates hospital in Srinagar), for repayment/prepayment of borrowings, in full or part, of PMHPL. | 54.1 |
| General corporate purposes. | - |
Company & documents
Paras Healthcare Limited is a Gurugram-based multi-specialty hospital chain providing tertiary and quaternary healthcare services under the “Paras Health” brand. The company established its first hospital in Gurugram in 2006 and specialises in advanced medical treatments, complex surgeries and critical care.
As of June 30, 2026, it operated eight hospitals with an aggregate capacity of 2,211 beds, including 1,502 operational beds, across five states and one union territory.
The company focuses on six major clinical specialties, collectively known as CONGOR:
- Cardiac Sciences: Cardiovascular treatments, interventional cardiology and cardiac surgeries.
- Oncology Sciences: Cancer diagnosis, chemotherapy, radiation therapy and cancer surgeries.
- Neuro Sciences: Neurology, neurosurgery and spinal disorder treatments.
- Gastro Sciences: Gastroenterology, gastrointestinal surgeries and liver-related treatments.
- Orthopedics and Sports Injury: Joint replacements, trauma care and sports injury treatments.
- Renal Sciences: Nephrology, urology, dialysis and kidney transplant care.
These specialties contributed 74.70% of revenue from operations in FY2026.
The company operates hospitals in Gurugram, Patna, Darbhanga, Panchkula, Udaipur, Ranchi, Srinagar and Kanpur through owned, leased, revenue-sharing and public-private partnership models. As of June 30, 2026, its network included 559 ICU beds, with seven of its eight hospitals holding NABH accreditation.
Paras Healthcare plans to establish a 300-bed hospital in Gurugram and a 500-bed hospital in Ludhiana, targeting an increase in total bed capacity to 3,011 beds by March 2028.
As of June 30, 2026, the company had 1,084 doctors and 1,937 nurses across its hospital network.
Registrar
MUFG Intime India Pvt. Ltd.
Phone: 022-49186000
Email: parashealthcare.ipo@in.mpms.mufg.com
Web: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
Company contact
Paras Healthcare Ltd.
1 st Floor, Tower B, Paras Twin Towers, Golf Course Road, Sector 54, Gurugram, Haryana, 122002
Phone: +91 124 430 2163
Email: cs@parashospitals.com
Book running lead managers
- JM Financial Limited
- BofA Securities India Limited
- Nuvama Wealth Management Limited
Promoters
- Dharminder Kumar Nagar