The total offer size is up to Rs 1,800 crore.
FinTech BizNews Service
Mumbai, 6 June 2026: Paras Healthcare Limited, a clinical specialty-led hospital platform providing tertiary and quaternary healthcare services, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO).
The company provides tertiary and quaternary healthcare services through a network of eight hospitals with an aggregate bed capacity of 2,211 beds as of March 31, 2026 across North India, Bihar and Jharkhand.
Paras Healthcare Limited operates under the "Paras Health" brand, with a presence in five states and one union territory - Gurugram and Panchkula in Haryana; Patna and Darbhanga in Bihar; Kanpur in Uttar Pradesh; Udaipur in Rajasthan; Ranchi in Jharkhand; and Srinagar in the union territory of Jammu and Kashmir.
Dr. Dharminder Kumar Nagar is the promoter of the company.
The offer comprises a fresh issue of equity shares aggregating up to Rs 500 crore and an offer for sale of equity shares aggregating up to Rs 1,300 crore by the selling shareholder. The total offer size is up to Rs 1,800 crore. The face value of each equity share is Rs 1.
The company proposes to utilize the net proceeds towards:
Paras Healthcare Limited has a committed pipeline for expansion of its network, with the planned addition of a hospital with a bed capacity of 300 beds in Gurugram and a hospital with a capacity of 500 beds in Ludhiana, which it intends to launch by Fiscal 2027 and Fiscal 2028, respectively. The company expects to increase its total bed capacity across its hospitals to 3,011 beds by March 31, 2028.
Over the last three Fiscals, on a consolidated basis, the company has demonstrated strong growth driven by an increase in patient volumes across its hospitals. The revenue from operations has grown at a CAGR of 19.26% from Rs 1,129.039 crore in Fiscal 2024 to Rs1,605.952 crore in Fiscal 2026, driven by an increase in occupied bed days and ARPOB (average revenue per occupied bed) at its Mature Hospitals, reflecting its continued focus on high-acuity specialties and clinical programs. The company’s EBITDA has grown at a CAGR of 47.41% from Rs 154.411 crore in Fiscal 2024 to Rs 335.577 crore in Fiscal 2026, with EBITDA margins expanding as its Emerging Hospitals and New Hospitals have begun to ramp up, generating operating leverage.
The Equity Shares to be offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges, being BSE and NSE.
JM Financial Limited, BofA Securities India Limited and Nuvama Wealth Management Limited are the book running lead managers to the issue.
