Paras Healthcare IPO
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Paras Healthcare IPO details
Schedule of Paras Healthcare
| Issue open date | 21 Oct 2026 |
| Issue close date | 23 Oct 2026 |
| UPI mandate deadline | 23 Oct 2026 (5 PM) |
| Allotment finalization | 26 Oct 2026 |
| Refund initiation | 27 Oct 2026 |
| Share credit | 27 Oct 2026 |
| Listing date | 28 Oct 2026 |
| Mandate end date | 07 Nov 2026 |
| Lock-in end date for anchor investors (50%) | 24 Nov 2026 |
| Lock-in end date for anchor investors (remaining) | 23 Jan 2027 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Paras Healthcare
Paras Healthcare operates a network of multi-specialty tertiary care hospitals under the “Paras Health” brand, primarily focused on the healthcare markets of North India and East India. The company’s core business involves providing advanced healthcare services, including complex quaternary care and specialized therapeutic treatments. It manages eight operational hospitals across cities such as Gurugram, Patna, Panchkula, Ranchi, Udaipur, Srinagar, Darbhanga, and Kanpur, with a total bed capacity of 2,211 beds as of June 30, 2026. Paras Healthcare generates the majority of its revenue from in-patient department services, which include consultations, surgeries, and specialized treatments. The company’s revenue is heavily driven by six core clinical specialties: cardiac sciences, oncology, neurosciences, gastro sciences, orthopedics and sports injury, and renal sciences. Additionally, the company generates a smaller portion of its income through in-house pharmacy sales and outpatient consultations.
Financials of Paras Healthcare
Issue size
| Funds Raised in the IPO | Amount (₹ crores) |
| Total issue size | 1450 |
| Fresh Issue – Proceeds go to the company |
500 |
| Offer for sale – Proceeds go to the existing investors | 950 |
Utilisation of Proceeds
| Purpose | INR crores (%) |
|---|---|
| Repayment or prepayment of certain Company borrowings | 320.9 (64.18%) |
| Investment in Subsidiary PMHPL for borrowing repayment | 54.1 (10.82%) |
| General Corporate Purposes | 125 (25%) |
Strengths
- Established “Paras Health” brand in underserved North and East India markets.
- High revenue reliance on specialized CONGOR clinical programs.
- Diversified network of eight multi-specialty hospitals with 2,211 beds.
- Advanced quaternary care supported by modern medical infrastructure.
- Improved occupancy rates and a turnaround to profitability in Fiscal 2026.
Risks
- High medical staff attrition may impact care quality.
- High revenue concentration in North India poses regional risks.
- Over-reliance on CONGOR specialties risks revenue drops.
- High debt of ₹9,394.67 million strains cash flows.
- Unregistered hospital leases risk eviction and disruption.