Paras Healthcare Files ₹1,800-Crore IPO Papers, Plans Expansion To 3,011 Beds By FY28

Mumbai: Paras Healthcare Ltd, which runs hospitals under the Paras Health brand, has filed draft papers with the Securities and Exchange Board of India (Sebi) to raise up to Rs 1,800 crore through an initial public offering (IPO).

The proposed IPO consists of a fresh issue of equity shares worth up to Rs 500 crore and an Offer-for-Sale (OFS) of shares worth up to Rs 1,300 crore by existing shareholders.

Among the shareholders selling shares through the OFS are promoter Dharminder Kumar Nagar and other investors.

Funds to Be Used for Debt Reduction

The company plans to use the money raised from the fresh issue mainly to reduce its debt burden.

A portion of the proceeds will be used for prepayment or repayment of certain outstanding borrowings. Funds will also be invested in its wholly-owned subsidiary, PMHPL, to help repay debt obligations.

The remaining funds will be used for general corporate purposes.

Strong Presence Across North India

Gurugram-based Paras Healthcare is a specialty-led hospital platform that offers tertiary and quaternary healthcare services.

As of March 31, 2026, the company operated a network of eight hospitals with a total capacity of 2,211 beds.

Its hospitals are spread across Haryana, Bihar, Uttar Pradesh, Rajasthan, Jharkhand, and the Union Territory of Jammu & Kashmir.

Expansion Plans Underway

The company has outlined ambitious expansion plans to strengthen its healthcare network.

It intends to add a 300-bed hospital in Gurugram by FY27 and a 500-bed hospital in Ludhiana by FY28.

With these additions, Paras Healthcare expects its total bed capacity to increase from 2,211 beds to 3,011 beds by March 2028.

Financial Performance

For the financial year ended March 2026, Paras Healthcare reported consolidated revenue from operations of Rs 1,605.95 crore.

The company posted EBITDA, a key measure of operating profitability, of Rs 335.58 crore during the same period.

These numbers reflect the company’s growing scale and operational strength in India’s healthcare sector.

Second Attempt at Going Public

This is not the company’s first attempt to enter the stock market.

Paras Healthcare had previously filed IPO papers in 2024 and had received regulatory approval. However, it later decided not to proceed with the public issue.

For the current IPO, JM Financial, BofA Securities India and Nuvama Wealth Management have been appointed as the book-running lead managers.

The company plans to list its shares on both the BSE and NSE.