Paras Healthcare Fixes INR 660-693 Price Band for INR 1,450 Cr IPO

Paras Healthcare plans to expand its network with a 300-bed hospital in Gurugram and a 500-bed facility in Ludhiana by FY27 and FY28, respectively, expecting its total bed capacity to reach 3,011 by March 31, 2028.

Paras Healthcare has fixed the price band for its INR 1,450 Cr IPO at INR 660-693 per share, setting the stage for its stock market debut later this month.

The hospital operator plans to use part of the fresh issue proceeds to reduce debt while supporting its corporate requirements.

The Haryana-based healthcare provider, Paras Healthcare, has scheduled its IPO subscription window for October 21-23, 2026.

The anchor book for institutional investors will open on October 19, while the company’s shares are expected to list on the BSE and the NSE on October 28.

At the upper end of the price band, Paras Healthcare’s post-issue market capitalisation is estimated at approximately INR 7,498 Cr.

The INR 1,450 Cr IPO comprises a fresh issue of INR 500 Cr and an offer-for-sale (OFS) worth INR 950 Cr. Under the OFS, promoter Dr Dharminder Kumar Nagar will sell shares worth INR 300 Cr, while investor Commelina will offload shares worth INR 650 Cr. Commelina is associated with Malaysian private equity firm Creador.

Investors can bid for a minimum of 21 shares, with additional bids in multiples of 21. At the upper price limit, the minimum investment for retail investors will be INR 14,553.

Qualified institutional buyers have been allocated 75% of the issue, non-institutional investors 15%, and retail investors the remaining 10%.

Paras Healthcare operates eight hospitals with a combined capacity of 2,211 beds across North India, Bihar and Jharkhand, providing tertiary and quaternary healthcare services.

The company plans to expand its network with a 300-bed hospital in Gurugram and a 500-bed facility in Ludhiana by FY27 and FY28, respectively. It expects its total bed capacity to reach 3,011 by March 31, 2028.

Of the fresh issue, INR 54.10 Cr is earmarked for its wholly owned subsidiary, PMHPL, which operates a hospital in Srinagar.

JM Financial, BofA Securities India, and Nuvama Wealth Management are managing the Paras Healthcare IPO as merchant bankers.

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