- Paras Healthcare Ltd filed draft papers with SEBI for an IPO to raise up to Rs 1,800 crore
- The IPO includes a Rs 500 crore fresh issue and Rs 1,300 crore offer-for-sale by promoters
- Proceeds will repay borrowings, invest in subsidiary debt payment, and support corporate needs
Upcoming IPO: Paras Healthcare Ltd, which operates hospitals under the 'Paras Health' brand, has filed its preliminary draft papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise up to Rs 1,800 crore through an initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 500 crore and an Offer-For-Sale (OFS) of equity shares worth up to Rs 1,300 crore by the selling shareholder, according to the draft red herring prospectus (DRHP). Those selling shares include promoter Dharminder Kumar Nagar and other investors.
The total offer size is up to Rs 1,800 crore. The Gurugram-based company intends to utilise the proceeds from the fresh issue towards prepayment or repayment of certain outstanding borrowings, investment in its wholly-owned subsidiary PMHPL for its debt payment, and for general corporate purposes. JM Financial, BofA Securities India and Nuvama Wealth Management are the book-running lead managers to the proposed public issue. The equity shares are proposed for listing on the BSE and NSE.
Paras Healthcare IPO Plans
The company plans to expand its network by adding a 300-bed hospital in Gurugram and a 500-bed hospital in Ludhiana by fiscal years 2027 and 2028, respectively. With these additions, its total bed capacity is expected to rise to 3,011 beds by March 31, 2028. Paras Healthcare had earlier approached SEBI with its set of draft IPO papers in 2024 and secured the market regulatory clearance. However, the company subsequently shelved its plans to launch the public issue.
Paras Healthcare is a clinical specialty-led hospital platform providing tertiary and quaternary healthcare services through a network of eight hospitals with an aggregate capacity of 2,211 beds as of March 31, 2026. The company has operations across five states and one union territory, including Haryana, Bihar, Uttar Pradesh, Rajasthan, Jharkhand and Jammu & Kashmir. On a consolidated basis, the revenue from operations stood at Rs 1,605.95 crore in FY26, and EBITDA (operating profit) at Rs 335.58 crore during the period. It expects to increase its total bed capacity across its hospitals to 3,011 beds by March 31, 2028.
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