{"id":315445,"date":"2026-10-19T10:07:08","date_gmt":"2026-10-19T04:37:08","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=315445"},"modified":"2026-10-19T10:07:08","modified_gmt":"2026-10-19T04:37:08","slug":"paras-healthcare-initial-public-offering-review","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/","title":{"rendered":"Paras Healthcare IPO Review: Key Details, Company Overview and Financials"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Paras Healthcare IPO price band Rs 660 to Rs 693. Opens 21 Oct, closes 23 Oct 2026. Issue size about Rs 1,450 Cr. Lists 28 Oct on BSE and NSE.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The Paras Healthcare IPO is a Rs 1,450 crore issue (about Rs 500 crore fresh plus Rs 950 crore offer for sale) priced at Rs 660 to Rs 693 per share, open from 21 to 23 October 2026 on BSE and NSE. The company runs eight hospitals with 2,211 beds under the Paras Health brand, and Rs 375 crore of the fresh issue is meant to repay debt. FY26 profit after tax was Rs 43.83 crore after a loss of Rs 57.98 crore in FY25, and debt to equity is 3.53, so the pricing leans heavily on the recovery continuing.<\/p>\n<\/p><\/div>\n<p>The Paras Healthcare IPO is a bookbuilding issue of about Rs 1,450 crore, made up of a fresh issue of 72,15,007 equity shares aggregating about Rs 500 crore and an offer for sale of 1,37,08,513 shares aggregating about Rs 950 crore by promoter Dharminder Kumar Nagar (Rs 300 crore) and investor Commelina Ltd. (Rs 650 crore). The issue was earlier planned at Rs 1,800 crore. Face value is Re 1 per share. Anchor bidding is on 19 October, and the issue opens on 21 October 2026 and closes on 23 October 2026. Allotment is expected on 26 October, and the shares are proposed to list on BSE and NSE on 28 October 2026.<\/p>\n<p>The price band is Rs 660 to Rs 693 per share with a lot size of 21 shares, so one lot needs Rs 14,553 at the upper band. Retail investors can bid up to 13 lots (273 shares, Rs 1,89,189), and small HNI bids run from 14 lots (294 shares, Rs 2,03,742) to 68 lots (Rs 9,89,604). Not more than 75 percent of the net offer is for qualified institutional buyers, at least 15 percent for non-institutional investors and at least 10 percent for retail investors.<\/p>\n<p>JM Financial Ltd., BofA Securities India Ltd. and Nuvama Wealth Management Ltd. are the book-running lead managers for the Paras Healthcare issue, and MUFG Intime India Pvt. Ltd. is the registrar.<\/p>\n<p>For detailed information on the company&#8217;s business, financials, risk factors and the use of proceeds, investors should refer to the Paras Healthcare Red Herring Prospectus (RHP) before making an investment decision.<\/p>\n<p style=\"margin-top:24px;\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#Company_Overview\" title=\"Company Overview\">Company Overview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#IPO_Details\" title=\"IPO Details\">IPO Details<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#Industry_Context\" title=\"Industry Context\">Industry Context<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#Business_Strengths\" title=\"Business Strengths\">Business Strengths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#Business_Risks\" title=\"Business Risks\">Business Risks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#Financial_Performance\" title=\"Financial Performance\">Financial Performance<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#Paras_Healthcare_Ltd_%E2%80%93_Financials_Rs_in_Crore\" title=\"Paras Healthcare Ltd. &#8211; Financials (Rs in Crore)\">Paras Healthcare Ltd. &#8211; Financials (Rs in Crore)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#Key_Ratios_and_Metrics\" title=\"Key Ratios and Metrics\">Key Ratios and Metrics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#Objects_of_the_Offer\" title=\"Objects of the Offer\">Objects of the Offer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#FAQs\" title=\"FAQs\">FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#When_does_the_Paras_Healthcare_IPO_open_and_close\" title=\"When does the Paras Healthcare IPO open and close?\">When does the Paras Healthcare IPO open and close?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#What_is_the_price_band_and_minimum_investment_for_the_Paras_Healthcare_IPO\" title=\"What is the price band and minimum investment for the Paras Healthcare IPO?\">What is the price band and minimum investment for the Paras Healthcare IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#What_does_Paras_Healthcare_do\" title=\"What does Paras Healthcare do?\">What does Paras Healthcare do?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#Is_the_Paras_Healthcare_IPO_a_fresh_issue_or_an_offer_for_sale\" title=\"Is the Paras Healthcare IPO a fresh issue or an offer for sale?\">Is the Paras Healthcare IPO a fresh issue or an offer for sale?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#How_will_Paras_Healthcare_use_the_IPO_money\" title=\"How will Paras Healthcare use the IPO money?\">How will Paras Healthcare use the IPO money?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#How_has_Paras_Healthcare_performed_financially\" title=\"How has Paras Healthcare performed financially?\">How has Paras Healthcare performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#Is_the_Paras_Healthcare_IPO_expensive\" title=\"Is the Paras Healthcare IPO expensive?\">Is the Paras Healthcare IPO expensive?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#What_are_the_main_risks_in_the_Paras_Healthcare_IPO\" title=\"What are the main risks in the Paras Healthcare IPO?\">What are the main risks in the Paras Healthcare IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#Who_are_the_lead_managers_and_registrar_for_the_Paras_Healthcare_IPO\" title=\"Who are the lead managers and registrar for the Paras Healthcare IPO?\">Who are the lead managers and registrar for the Paras Healthcare IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-initial-public-offering-review\/#Is_the_Paras_Healthcare_IPO_a_good_investment\" title=\"Is the Paras Healthcare IPO a good investment?\">Is the Paras Healthcare IPO a good investment?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Company_Overview\"><\/span><strong>Company Overview<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Incorporated in 1987 and based in Gurugram, Paras Healthcare Limited operates under the Paras Health brand and offers tertiary and quaternary care. As of 30 June 2026 it ran eight hospitals with 2,211 beds across Gurugram, Panchkula, Patna, Darbhanga, Kanpur, Udaipur, Ranchi and Srinagar, and employed 4,670 people at 31 March 2026.<\/p>\n<p>High-acuity specialties known as CONGOR (cardiac, oncology, neuro, gastro, orthopaedics and sports injury, and renal) made up 75.30 percent of FY26 revenue. The company plans a 300-bed hospital in Gurugram and a 500-bed hospital in Ludhiana, aiming for 3,011 beds by March 2028. Promoters and group hold 72.8 percent before the issue.<\/p>\n<p><em>Read on for the complete Paras Healthcare IPO details, including dates, issue structure, listing timeline and the company&#8217;s financial track record.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"IPO_Details\"><\/span><strong>IPO Details<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table border=\"1\" cellpadding=\"6\" cellspacing=\"0\" style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Particulars<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Details<\/th>\n<\/tr>\n<tr>\n<td>Anchor Bidding<\/td>\n<td>19 October 2026<\/td>\n<\/tr>\n<tr>\n<td>IPO Date<\/td>\n<td>21 to 23 October 2026<\/td>\n<\/tr>\n<tr>\n<td>Allotment<\/td>\n<td>Mon, 26 October 2026 (tentative)<\/td>\n<\/tr>\n<tr>\n<td>Refunds and Demat Credit<\/td>\n<td>Tue, 27 October 2026 (tentative)<\/td>\n<\/tr>\n<tr>\n<td>Listing Date<\/td>\n<td>Wed, 28 October 2026 (tentative)<\/td>\n<\/tr>\n<tr>\n<td>Face Value<\/td>\n<td>Re 1 per share<\/td>\n<\/tr>\n<tr>\n<td>Price Band<\/td>\n<td>Rs 660 to Rs 693<\/td>\n<\/tr>\n<tr>\n<td>Lot Size<\/td>\n<td>21 Shares<\/td>\n<\/tr>\n<tr>\n<td>Minimum Application (Retail)<\/td>\n<td>1 lot, 21 shares, Rs 14,553<\/td>\n<\/tr>\n<tr>\n<td>Maximum Application (Retail)<\/td>\n<td>13 lots, 273 shares, Rs 1,89,189<\/td>\n<\/tr>\n<tr>\n<td>Minimum Application (sNII)<\/td>\n<td>14 lots, 294 shares, Rs 2,03,742<\/td>\n<\/tr>\n<tr>\n<td>Issue Type<\/td>\n<td>Bookbuilding IPO<\/td>\n<\/tr>\n<tr>\n<td>Sale Type<\/td>\n<td>Fresh Issue and Offer for Sale<\/td>\n<\/tr>\n<tr>\n<td>Total Issue Size<\/td>\n<td>2,09,23,520 shares (agg. about Rs 1,450 Cr)<\/td>\n<\/tr>\n<tr>\n<td>Fresh Issue<\/td>\n<td>72,15,007 shares (agg. about Rs 500 Cr)<\/td>\n<\/tr>\n<tr>\n<td>Offer for Sale<\/td>\n<td>1,37,08,513 shares (agg. about Rs 950 Cr)<\/td>\n<\/tr>\n<tr>\n<td>Quota (QIB \/ NII \/ Retail)<\/td>\n<td>Not more than 75% \/ at least 15% \/ at least 10%<\/td>\n<\/tr>\n<tr>\n<td>Promoter and Group Holding<\/td>\n<td>72.8% pre-issue (post-issue figure not stated)<\/td>\n<\/tr>\n<tr>\n<td>Market Cap at Upper Band<\/td>\n<td>About Rs 7,498 Cr post-issue (tracker)<\/td>\n<\/tr>\n<tr>\n<td>Listing Exchange<\/td>\n<td>BSE and NSE<\/td>\n<\/tr>\n<tr>\n<td>Lead Managers<\/td>\n<td>JM Financial, BofA Securities, Nuvama Wealth<\/td>\n<\/tr>\n<tr>\n<td>Registrar<\/td>\n<td>MUFG Intime India<\/td>\n<\/tr>\n<\/table>\n<p><em>(Compiled from the DRHP\/RHP and market updates)<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Industry_Context\"><\/span><strong>Industry Context<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>India&#8217;s hospital sector is growing as incomes, insurance cover and demand for tertiary care rise, and large chains are adding beds in smaller cities as well as metros.<\/li>\n<li>Hospital businesses are capital heavy, so profit depends on bed occupancy, revenue per occupied bed and the time new hospitals take to mature.<\/li>\n<li>High-acuity specialties such as cardiac, oncology and neuro care earn higher revenue per patient than general care, which lifts margins for chains that focus on them.<\/li>\n<li>New hospitals usually run at a loss or low margin in their early years, which can weigh on consolidated profit while expansion continues.<\/li>\n<li>Investors usually track occupancy, average revenue per occupied bed, EBITDA per bed, debt and the share of mature hospitals.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Business_Strengths\"><\/span><strong>Business Strengths<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Here are the key strengths investors evaluating the Paras Healthcare IPO should weigh:<\/p>\n<ul>\n<li>A leading position in North India, Bihar and Jharkhand, with eight hospitals and 2,211 beds and a 20-plus year operating history.<\/li>\n<li>A focus on high-acuity care, with CONGOR specialties at 75.30 percent of FY26 revenue, and an FY26 EBITDA margin of 20.60 percent.<\/li>\n<li>A clear turnaround: total income rose from Rs 1,314.21 crore in FY25 to Rs 1,628.78 crore in FY26 (about 24 percent), and EBITDA rose from Rs 156.46 crore to Rs 335.58 crore.<\/li>\n<li>An expansion pipeline of 300 beds in Gurugram and 500 beds in Ludhiana, targeting 3,011 beds by March 2028.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><strong>Screen hospital and healthcare stocks on the Univest Screener<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Business_Risks\"><\/span><strong>Business Risks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Alongside these strengths, the Paras Healthcare issue also carries the following business risks:<\/p>\n<ul>\n<li>Debt is high. Total borrowings were Rs 1,393.86 crore at March 2026 against net worth of Rs 394.94 crore, and debt to equity was 3.53 (3.21 at June 2026).<\/li>\n<li>Profit is recent and thin. After losses of Rs 15.33 crore in FY24 and Rs 57.98 crore in FY25, FY26 profit was Rs 43.83 crore, a PAT margin of only 2.69 percent, and return on capital employed was 10.76 percent.<\/li>\n<li>The valuation is full. A tracker shows 37.7 times earnings, but that uses the annualised June 2026 quarter. On FY26 profit of Rs 43.83 crore and the Rs 7,498 crore market cap, the upper band works out to about 171 times (computed), and a pre-issue P\/E of 159.7 is shown.<\/li>\n<li>About Rs 950 crore of the Rs 1,450 crore issue is an offer for sale, so most of the money goes to the promoter and Commelina Ltd. and not to the company.<\/li>\n<li>New hospitals take time to ramp up, and the Gurugram and Ludhiana projects will need capital while debt is already high. Sources also differ on some staff counts, so the RHP should be treated as the reference.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Financial_Performance\"><\/span><strong>Financial Performance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Paras Healthcare IPO follows a turnaround year. Total income rose from Rs 1,151.02 crore in FY24 to Rs 1,314.21 crore in FY25 and Rs 1,628.78 crore in FY26, while EBITDA rose from Rs 154.41 crore to Rs 156.46 crore and then Rs 335.58 crore. Profit after tax swung from a loss of Rs 57.98 crore in FY25 to a profit of Rs 43.83 crore in FY26, and the quarter to June 2026 added Rs 49.68 crore on income of Rs 478.75 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Paras_Healthcare_Ltd_%E2%80%93_Financials_Rs_in_Crore\"><\/span><strong>Paras Healthcare Ltd. &#8211; Financials (Rs in Crore)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table border=\"1\" cellpadding=\"6\" cellspacing=\"0\" style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Particulars<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Q1 FY27 (Jun 2026)<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Fiscal 2026<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Fiscal 2025<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Fiscal 2024<\/th>\n<\/tr>\n<tr>\n<td>Total Income<\/td>\n<td>478.75<\/td>\n<td>1,628.78<\/td>\n<td>1,314.21<\/td>\n<td>1,151.02<\/td>\n<\/tr>\n<tr>\n<td>EBITDA<\/td>\n<td>113.48<\/td>\n<td>335.58<\/td>\n<td>156.46<\/td>\n<td>154.41<\/td>\n<\/tr>\n<tr>\n<td>Profit After Tax (PAT)<\/td>\n<td>49.68<\/td>\n<td>43.83<\/td>\n<td>(57.98)<\/td>\n<td>(15.33)<\/td>\n<\/tr>\n<tr>\n<td>Net Worth<\/td>\n<td>444.96<\/td>\n<td>394.94<\/td>\n<td>280.49<\/td>\n<td>338.51<\/td>\n<\/tr>\n<tr>\n<td>Total Borrowings<\/td>\n<td>1,429.49<\/td>\n<td>1,393.86<\/td>\n<td>1,232.12<\/td>\n<td>923.92<\/td>\n<\/tr>\n<tr>\n<td>Total Assets<\/td>\n<td>2,202.88<\/td>\n<td>2,071.14<\/td>\n<td>1,810.45<\/td>\n<td>1,477.66<\/td>\n<\/tr>\n<\/table>\n<p><em>Amounts in Rs Crore, restated consolidated figures compiled from published Paras Healthcare IPO disclosures and trackers. One tracker describes FY26 profit growth as 176 percent, but because FY25 was a loss, the change is a swing from loss to profit and not a percentage increase.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Ratios_and_Metrics\"><\/span><strong>Key Ratios and Metrics<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below summarises the key ratios for the Paras Healthcare issue as of FY26, as published by trackers, plus our own valuation arithmetic. The computed rows are not announced numbers.<\/p>\n<p><em>These ratios offer a quick snapshot of the profitability and balance sheet behind the Paras Healthcare IPO.<\/em><\/p>\n<table border=\"1\" cellpadding=\"6\" cellspacing=\"0\" style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">KPI (FY26)<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Value<\/th>\n<\/tr>\n<tr>\n<td>Return on Equity (RoE)<\/td>\n<td>12.98%<\/td>\n<\/tr>\n<tr>\n<td>Return on Capital Employed (RoCE)<\/td>\n<td>10.76%<\/td>\n<\/tr>\n<tr>\n<td>EBITDA Margin<\/td>\n<td>20.60%<\/td>\n<\/tr>\n<tr>\n<td>PAT Margin<\/td>\n<td>2.69%<\/td>\n<\/tr>\n<tr>\n<td>Debt to Equity<\/td>\n<td>3.53<\/td>\n<\/tr>\n<tr>\n<td>Net Asset Value per Share<\/td>\n<td>Rs 39.11<\/td>\n<\/tr>\n<tr>\n<td>Pre-Issue P\/E at Rs 693 (tracker, EPS Rs 4.34)<\/td>\n<td>About 159.7x<\/td>\n<\/tr>\n<tr>\n<td>Post-Issue P\/E at Rs 693 on annualised Q1 FY27 profit (tracker)<\/td>\n<td>About 37.7x<\/td>\n<\/tr>\n<tr>\n<td>Post-Issue P\/E at Rs 693 on FY26 profit (computed)<\/td>\n<td>About 171x<\/td>\n<\/tr>\n<tr>\n<td>Price to Book (tracker)<\/td>\n<td>About 17.7x<\/td>\n<\/tr>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Objects_of_the_Offer\"><\/span><strong>Objects of the Offer<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The company proposes to use the net proceeds of the fresh issue in the Paras Healthcare IPO towards the following objects.<\/p>\n<ul>\n<li>Repayment or prepayment of certain borrowings of the company (Rs 320.90 Cr)<\/li>\n<li>Investment in wholly owned subsidiary PMHPL (Srinagar hospital) to repay its borrowings (Rs 54.10 Cr)<\/li>\n<li>General corporate purposes (balance of the fresh issue, about Rs 125 Cr computed, amount not stated)<\/li>\n<\/ul>\n<p>The offer for sale proceeds of about Rs 950 crore go to the selling shareholders, not to the company. Even after the debt repayment, borrowings would remain large relative to net worth.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the Univest iOS App or Univest Android App to track the Paras Healthcare IPO and get daily stock recommendations.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><em>Here is the bottom line on the Paras Healthcare IPO.<\/em><\/p>\n<p>The Paras Healthcare issue offers exposure to a growing North India hospital chain with a high-acuity focus, a sharp EBITDA improvement and a visible expansion pipeline.<\/p>\n<p>The cautions are a very high debt to equity ratio, thin and recent profits, a valuation that looks stretched on FY26 earnings, and a large offer for sale.<\/p>\n<p>Overall, investors weighing the Paras Healthcare issue should read the Red Herring Prospectus (RHP) for occupancy and revenue per bed, judge how fast the June 2026 profit pace can be sustained, and match the position size to their own risk profile.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data independently before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<p>Univest does not publish grey market premium figures. Grey market premium is an unofficial and unregulated indicator collected informally outside the stock exchanges. It is not published, verified or endorsed by SEBI, NSE or BSE, can vary widely between trackers, and is not always accurate.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"When_does_the_Paras_Healthcare_IPO_open_and_close\"><\/span><strong>When does the Paras Healthcare IPO open and close?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Paras Healthcare IPO opens for subscription on 21 October 2026 and closes on 23 October 2026, with anchor bidding on 19 October. Allotment is expected on 26 October, and the shares are proposed to list on BSE and NSE on 28 October 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_price_band_and_minimum_investment_for_the_Paras_Healthcare_IPO\"><\/span><strong>What is the price band and minimum investment for the Paras Healthcare IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The price band is Rs 660 to Rs 693 per share with a lot size of 21 shares. One lot needs Rs 14,553 at the upper band, retail investors can bid up to 13 lots (Rs 1,89,189), and small HNI bids start at 14 lots (Rs 2,03,742).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_does_Paras_Healthcare_do\"><\/span><strong>What does Paras Healthcare do?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Paras Healthcare runs eight hospitals with 2,211 beds under the Paras Health brand across Gurugram, Panchkula, Patna, Darbhanga, Kanpur, Udaipur, Ranchi and Srinagar. It focuses on cardiac, oncology, neuro, gastro, orthopaedic and renal care.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_Paras_Healthcare_IPO_a_fresh_issue_or_an_offer_for_sale\"><\/span><strong>Is the Paras Healthcare IPO a fresh issue or an offer for sale?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It is both. The fresh issue is about Rs 500 crore (72,15,007 shares) and the offer for sale is about Rs 950 crore (1,37,08,513 shares) by Dharminder Kumar Nagar and Commelina Ltd., so most of the money goes to the sellers.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_will_Paras_Healthcare_use_the_IPO_money\"><\/span><strong>How will Paras Healthcare use the IPO money?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Rs 320.90 crore will repay company borrowings and Rs 54.10 crore will go to subsidiary PMHPL to repay its debt, with the balance for general corporate purposes. Debt repayment is therefore the main use of the fresh issue.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Paras_Healthcare_performed_financially\"><\/span><strong>How has Paras Healthcare performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Total income rose from Rs 1,314.21 crore in FY25 to Rs 1,628.78 crore in FY26, and EBITDA rose from Rs 156.46 crore to Rs 335.58 crore. Profit after tax moved from a loss of Rs 57.98 crore to a profit of Rs 43.83 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_Paras_Healthcare_IPO_expensive\"><\/span><strong>Is the Paras Healthcare IPO expensive?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> A tracker shows 37.7 times earnings, but that is on the annualised June 2026 quarter. On FY26 profit of Rs 43.83 crore the upper band works out to about 171 times by our arithmetic, so the valuation depends heavily on the recent profit pace holding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_main_risks_in_the_Paras_Healthcare_IPO\"><\/span><strong>What are the main risks in the Paras Healthcare IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are debt to equity of 3.53, thin and recent profits, a stretched valuation on FY26 earnings, a large offer for sale and the capital needed for new hospitals while borrowings are high.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Who_are_the_lead_managers_and_registrar_for_the_Paras_Healthcare_IPO\"><\/span><strong>Who are the lead managers and registrar for the Paras Healthcare IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> JM Financial Ltd., BofA Securities India Ltd. and Nuvama Wealth Management Ltd. are the book-running lead managers, and MUFG Intime India Pvt. Ltd. is the registrar, handling allotment and the credit of shares to successful applicants&#8217; demat accounts.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_Paras_Healthcare_IPO_a_good_investment\"><\/span><strong>Is the Paras Healthcare IPO a good investment?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Paras Healthcare issue offers a growing hospital chain in a growing sector, but high debt, thin profits and a full valuation call for caution. Read the prospectus, check occupancy and revenue per bed, and size the position to your own risk appetite before applying.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"When does the Paras Healthcare IPO open and close?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Paras Healthcare IPO opens for subscription on 21 October 2026 and closes on 23 October 2026, with anchor bidding on 19 October. Allotment is expected on 26 October, and the shares are proposed to list on BSE and NSE on 28 October 2026.\"}},{\"@type\":\"Question\",\"name\":\"What is the price band and minimum investment for the Paras Healthcare IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The price band is Rs 660 to Rs 693 per share with a lot size of 21 shares. 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The company runs eight hospitals with 2,211 beds under the Paras Health brand, and<\/p>\n","protected":false},"author":29,"featured_media":315444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1281],"tags":[5351],"class_list":["post-315445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","tag-mainboard-ipo"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["315444"],"rank_math_title":["Paras Healthcare IPO 2026: Price Band, Review, Risks"],"rank_math_description":["Paras Healthcare IPO opens 21 to 23 October 2026 at Rs 660 to Rs 693. Read the review of the hospital chain, its financials, valuation and key risks."],"rank_math_focus_keyword":["Paras Healthcare IPO"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/paras-healthcare-ipo-review-key-details-company-overview-and-financials.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/315445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=315445"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/315445\/revisions"}],"predecessor-version":[{"id":315446,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/315445\/revisions\/315446"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/315444"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=315445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=315445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=315445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}