Paras Healthcare IPO
PARASHLTH · BSE, NSE · Mainboard · Hospital & Healthcare Services
Overview
Updated 2 hr agoParas Healthcare Limited is an Indian hospital chain operating under the 'Paras Health' brand, with a presence in North India, Bihar, and Jharkhand. The company is launching an IPO comprising a fresh issue of equity shares and an offer for sale by existing shareholders.
The red bar is the price band. GMP-implied price is an unofficial grey-market number, not a forecast.
How much to apply
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 21 | ₹14,553 |
| Retail (max) | 13 | 273 | ₹1,89,189 |
| sNII (min) | 14 | 294 | ₹2,03,742 |
| bNII (min) | 69 | 1,449 | ₹10,04,157 |
At the upper band. The amount is blocked in your bank account through UPI, not paid, until allotment.
Final subscription
As of 12 Nov, 18:33 ISTTimes the shares on offer were bid for, by investor category. Above 1x means the category is fully booked.
Listing performance
Latest price updated 5 hr ago.
Issue details
| Status | Listed |
| Exchange | BSE, NSE |
| Segment | Mainboard |
| Sector | Hospital & Healthcare Services |
| Price band | ₹660–693 |
| Final issue price | ₹693.00 |
| Face value | ₹1 per share |
| Lot size | 21 shares |
| Minimum investment | ₹14,553 |
| Issue size | ₹1,450 Cr |
| Fresh issue | ₹500 Cr |
| Offer for sale | ₹950 Cr |
| P/E at upper band | 159.7x |
| Registrar | MUFG Intime India Private Limited |
| Lead managers | JM Financial Limited, BofA Securities India Limited, Nuvama Wealth Management Limited |
| NSE symbol | PARASHLTH |
| ISIN | INE661T01029 |
Fresh issue vs offer for sale
Shareholder quota and promoter holding
Company & business
Paras Healthcare Limited is a clinical specialty-led hospital platform providing tertiary and quaternary healthcare services. As of June 30, 2026, the company operates eight hospitals with an aggregate bed capacity of 2,211 beds across North India, Bihar, and Jharkhand. The company focuses on high-acuity clinical specialties, including cardiac sciences, oncology, neuro sciences, gastro sciences, orthopedics and sports injury, and renal sciences (collectively, 'CONGOR'). The company's hospital network is supported by a team of medical professionals and staff, and it has implemented a cloud-first technology ecosystem to enhance operational efficiency and patient experience.
Objects of the issue — how the money will be used
- Prepayment or scheduled re-payment, in full or part, of certain outstanding borrowings availed by our Company (₹320.9 Cr)
- Investment in our wholly owned Subsidiary, PMHPL (which also operates our hospital in Srinagar), for repayment/prepayment of borrowings, in full or part, of PMHPL (₹54.1 Cr)
- General corporate purposes
Key strengths
- One of the largest healthcare providers in North India, Bihar, and Jharkhand with a first-mover advantage and a well-recognized brand.
- Strong focus on tertiary and quaternary care with high contribution from CONGOR specialties.
- Capital-efficient and flexible operating model with disciplined expansion.
- Delivering high-quality clinical care through renowned clinicians, supported with modern equipment.
- Digital technology enabling clinical effectiveness, patient experience, and operational efficiencies.
- Doctor-led professional management team with proven execution capabilities.
Key risks
- Incurred losses in the past; no assurance of future profitability.
- Subsidiaries (PHRPL and PMHPL) have incurred losses and may not turn profitable.
- High attrition rates of doctors, nurses, and other healthcare professionals.
- Significant concentration of hospitals in North India; adverse developments in this region could impact business.
- Reliance on a concentrated set of specialties (CONGOR); adverse developments in these could disproportionately impact revenue.
- High operating costs (employee benefits, retainers, and stock-in-trade); inability to pass on costs could impact profitability.
- Operations on leased premises; inability to renew leases could adversely affect business.
- Contingent liabilities could adversely affect financial condition if they materialize.
Promoters
Dr. Dharminder Kumar Nagar
Decoded from the RHP with AI on 31-Oct-2026. Check the offer document before you apply.
Financials (restated, ₹ crore)
| Period | Revenue | Expenses | Profit after tax | Assets | Net worth | Borrowings |
|---|---|---|---|---|---|---|
| FY24 | 1,129.04 | -- | −15.33 | 1,477.66 | 338.51 | 547.53 |
| FY25 | 1,294.06 | -- | −57.98 | 1,810.45 | 280.49 | 727.93 |
| FY26 | 1,605.95 | -- | 43.83 | 2,071.14 | 394.94 | 854.10 |
Key performance indicators · FY26
Peers & valuation
Listed peers as chosen by the issuer in the offer document (Basis for Issue Price).
| Company | Revenue (₹ Cr) | EPS (₹) | P/E | RoNW % | NAV (₹) |
|---|---|---|---|---|---|
| Paras Healthcare this issue | 1,606.0 | 4.34 | 159.7x | 12.98 | 39.11 |
| Aster DM Quality Care Limited | 4,643.2 | 7.53 | 91.9 | 9.70 | 88.32 |
| Apollo Hospitals Enterprise Limited | 25,228.5 | 135.04 | 59.4 | 21.95 | 657.58 |
| Fortis Healthcare Limited | 9,127.8 | 13.80 | 55.4 | 11.08 | 131.07 |
| Global Health Limited | 4,410.3 | 20.71 | 64.5 | 15.15 | 147.06 |
| Jupiter Lifeline Hospitals Limited | 1,499.8 | 5.92 | 42.9 | 13.41 | 47.10 |
| Krishna Institute of Medical Sciences Limited | 3,904.6 | 6.03 | 116.4 | 11.01 | 56.17 |
| Manipal Health Enterprises Limited | 10,935.6 | 7.71 | 87.0 | 12.37 | 63.26 |
| Max Healthcare Institute Limited | 10,065.0 | 14.83 | 62.1 | 14.33 | 109.53 |
| Narayana Hrudayalaya Limited | 7,896.0 | 39.67 | 43.4 | 19.74 | 222.02 |
This issue is priced at 159.7x P/E against a peer median of 62.1x: a premium of 157%. A measurement, not a verdict.
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Offer documents and the issuer, exchange, registrar and SEBI pages for this issue.