Paras Healthcare Revives Plans for IPO, Eyes $200 Mn

The Gurugram-based Hospital chain has appointed JM Financial, BofA Securities, and Nuvama Wealth Management as advisors for the proposed share sale.

Paras Healthcare is set to enter the capital markets through an initial public offering (IPO). The proposed IPO size is estimated at up to $200 million.

The new development marks a renewed attempt by the company to pursue a public listing after earlier plans did not materialize.

The hospital network initially submitted draft papers for an initial public offering (IPO) in July 2024, seeking to raise funds for expansion and development.

In October 2024, the Securities and Exchange Board of India (SEBI) granted approval for the IPO, allowing the company to proceed with its plans.

However, despite this approval, the hospital network ultimately decided not to advance with the offering within the designated validity period. As a result, the SEBI approval lapsed in October 2025, leaving the company's future fundraising efforts uncertain and delaying its growth initiatives.

As part of its revised strategy, the company has replaced its earlier set of investment bankers and is reassessing market conditions before moving ahead with the listing process.

Further, the earlier draft IPO filing of 2024 indicates that the proceeds are expected to be allocated toward debt repayment, investment in subsidiaries, and general corporate purposes.

Additionally, JM Financial, BofA Securities, and Nuvama Wealth Management are appointed as advisors for the proposed share sale.

Paras Healthcare currently operates eight hospitals located in Gurugram and Panchkula in Haryana, Patna and Darbhanga in Bihar, Kanpur in Uttar Pradesh, Udaipur in Rajasthan, Ranchi in Jharkhand, and Srinagar in Jammu and Kashmir.

Founded in 2006, the hospital network provides specialized tertiary medical care in Tier-II and Tier-III cities, along with other various clinical specialties, including cardiac sciences, oncology, neurosciences, gastro sciences, and orthopedics and joint replacement.

Last year, the hospital chain had also received an INR 170.6 crore worth of investment from 360 ONE Asset, an Asset management company, wholly-owned subsidiary of 360 ONE WAM.

Further details regarding the IPO timeline and structure are anticipated in the coming weeks, as Paras Healthcare positions itself for a strong market entry.

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