{"id":321050,"date":"2026-10-21T15:51:32","date_gmt":"2026-10-21T10:21:32","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=321050"},"modified":"2026-10-21T15:51:32","modified_gmt":"2026-10-21T10:21:32","slug":"paras-healthcare-ipo-hospital-occupancy-and-profit-what-investors-should-check","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/paras-healthcare-ipo-hospital-occupancy-and-profit-what-investors-should-check\/","title":{"rendered":"Paras Healthcare IPO: Hospital Occupancy, Profit and What Investors Should Check Before Bidding"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>The Paras Healthcare IPO of Rs 1,450 crore opened on 21 Oct 2026 and closes on 23 Oct, at a price band of Rs 660 to Rs 693 and a lot of 21 shares (Rs 14,553 at the upper band). Hospital occupancy rose to 61.75% in FY26 from 50.78% in FY25, and the company moved from a loss of Rs 57.98 crore in FY25 to a profit of Rs 43.83 crore in FY26. Around 12:30 PM on day 1 the issue was only about 0.08 to 0.09 times subscribed, with retail at about 0.42 times.<\/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, made up of a fresh issue of Rs 500 crore and an offer for sale of Rs 950 crore, open from 21 Oct to 23 Oct 2026 at a price band of Rs 660 to Rs 693. Occupancy rose from 50.78% in FY25 to 61.75% in FY26, revenue grew about 24.1% to Rs 1,605.95 crore (my calculation) and profit after tax turned positive at Rs 43.83 crore after a loss of Rs 57.98 crore. The main risks are high staff attrition of 60.38% in FY26, contingent liabilities of Rs 398.44 crore and secured borrowings of Rs 990.33 crore at 31 Aug 2026. Allotment is on 26 Oct and listing is proposed for 28 Oct 2026 on BSE and NSE.<\/p>\n<\/p><\/div>\n<p>The Paras Healthcare IPO comes from a hospital chain with 8 hospitals, 2,211 beds, 1,084 doctors and 1,937 nurses, of which 7 of the 8 hospitals are NABH accredited. The issue is mostly an offer for sale, which means about 65.5% of the issue size goes to selling shareholders and not to the company (my calculation), while the fresh issue is meant mainly to cut debt.<\/p>\n<p>This article on the Paras Healthcare IPO covers the issue terms, how hospital occupancy and profit changed over three years, what the company will do with the fresh money, the subscription status, the risks and the dates. It is educational and not a recommendation to apply for the issue.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=paras-healthcare-ipo-hospital-occupancy-and-profit-what-investors-should-check\">Click Here &#8211; Get Free Investment Predictions<\/a><\/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-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#Paras_Healthcare_IPO_Issue_Details_and_Dates\" title=\"Paras Healthcare IPO: Issue Details and Dates\">Paras Healthcare IPO: Issue Details and Dates<\/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-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#Paras_Healthcare_IPO_Occupancy_and_Profit_Turnaround\" title=\"Paras Healthcare IPO: Occupancy and Profit Turnaround\">Paras Healthcare IPO: Occupancy and Profit Turnaround<\/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-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#Paras_Healthcare_IPO_Subscription_Status_and_Analyst_Views\" title=\"Paras Healthcare IPO: Subscription Status and Analyst Views\">Paras Healthcare IPO: Subscription Status and Analyst Views<\/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-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#Network_and_Business_Behind_the_Paras_Healthcare_IPO\" title=\"Network and Business Behind the Paras Healthcare IPO\">Network and Business Behind the Paras Healthcare IPO<\/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-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#Risks_in_the_Paras_Healthcare_IPO\" title=\"Risks in the Paras Healthcare IPO\">Risks in the Paras Healthcare IPO<\/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-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#What_to_Watch_Next_for_the_Paras_Healthcare_IPO\" title=\"What to Watch Next for the Paras Healthcare IPO\">What to Watch Next for the Paras Healthcare IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#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-8\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#What_are_the_price_band_and_lot_size_of_the_Paras_Healthcare_IPO\" title=\"What are the price band and lot size of the Paras Healthcare IPO?\">What are the price band and lot size of 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-10\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#When_does_the_Paras_Healthcare_IPO_open_allot_and_list\" title=\"When does the Paras Healthcare IPO open, allot and list?\">When does the Paras Healthcare IPO open, allot and list?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#How_did_hospital_occupancy_and_profit_change_at_Paras_Healthcare\" title=\"How did hospital occupancy and profit change at Paras Healthcare?\">How did hospital occupancy and profit change at Paras Healthcare?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#How_will_the_Paras_Healthcare_IPO_money_be_used\" title=\"How will the Paras Healthcare IPO money be used?\">How will the Paras Healthcare IPO money be used?<\/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-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#What_is_the_subscription_status_of_the_Paras_Healthcare_IPO_on_day_1\" title=\"What is the subscription status of the Paras Healthcare IPO on day 1?\">What is the subscription status of the Paras Healthcare IPO on day 1?<\/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-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#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-15\" href=\"https:\/\/univest.in\/blogs-2\/paras-healthcare-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#Is_the_Paras_Healthcare_IPO_worth_applying_for\" title=\"Is the Paras Healthcare IPO worth applying for?\">Is the Paras Healthcare IPO worth applying for?<\/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-ipo-hospital-occupancy-and-profit-what-investors-should-check\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Paras_Healthcare_IPO_Issue_Details_and_Dates\"><\/span><strong>Paras Healthcare IPO: Issue Details and Dates<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Paras Healthcare IPO: item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Detail<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Total issue size of the Paras Healthcare IPO<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,450 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Fresh issue and offer for sale<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 500 crore fresh issue and Rs 950 crore offer for sale<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price band of the Paras Healthcare IPO<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 660 to Rs 693 per share<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Lot size<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">21 shares, or Rs 14,553 at the upper band<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Retail limit<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up to 13 lots, about Rs 1.89 lakh at the upper band (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Bidding window<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">21 Oct to 23 Oct 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Basis of allotment<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">26 Oct 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Refunds<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">27 Oct 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Listing<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">28 Oct 2026 on BSE and NSE<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Lead managers<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">JM Financial, BofA Securities and Nuvama<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Registrar<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">MUFG Intime (Link Intime)<\/td>\n<\/tr>\n<\/table>\n<p>Of the Rs 500 crore fresh issue, Rs 320.90 crore is meant to repay debt and Rs 54.10 crore goes to the subsidiary that runs the Srinagar hospital, a total of Rs 375 crore or 75% of the fresh issue (my calculation). The rest is for general corporate purposes. Because the offer for sale proceeds go to existing shareholders, the Paras Healthcare IPO adds less growth capital than its headline size suggests.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Track upcoming IPOs on the Univest IPO page<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Paras_Healthcare_IPO_Occupancy_and_Profit_Turnaround\"><\/span><strong>Paras Healthcare IPO: Occupancy and Profit Turnaround<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Paras Healthcare IPO: measure (Rs crore)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">FY24<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">FY25<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">FY26<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q1 FY27<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">1,129.04<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">1,294.06<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">1,605.95<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">470.28<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not stated in the pages I read<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">156.46<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">335.58<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">113.48<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Profit after tax<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">-15.33<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">-57.98<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">43.83<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">49.68<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Hospital occupancy<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">52.46%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">50.78%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">61.75%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not stated<\/td>\n<\/tr>\n<\/table>\n<p>Revenue grew about 14.6% in FY25 and about 24.1% in FY26 (my calculation), while EBITDA more than doubled in FY26 and the margin moved from about 12.1% to about 20.9% (my calculation). Occupied bed days rose 25.8% to 338,321, according to SBI Securities. In Q1 FY27 the profit of Rs 49.68 crore was already above the full FY26 profit of Rs 43.83 crore, on an EBITDA margin of about 24.1% (my calculation). A single strong quarter is not a trend, and I read the profit swing as partly the effect of fixed hospital costs spread over more occupied beds, which can also work in reverse if occupancy slips.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to open a demat account and apply for IPOs.<\/em><\/p>\n<p><strong>Risk:<\/strong> The Paras Healthcare IPO profit comes after two years of losses, so one year of profit does not prove the turnaround will last.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Paras_Healthcare_IPO_Subscription_Status_and_Analyst_Views\"><\/span><strong>Paras Healthcare IPO: Subscription Status and Analyst Views<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Paras Healthcare IPO: category<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Around 12:30 PM on 21 Oct 2026<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Total subscription<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 0.08 to 0.09 times<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Retail individual investors<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 0.41 to 0.43 times<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Non-institutional investors<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 0.04 to 0.07 times<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Qualified institutional buyers<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nil at that time<\/td>\n<\/tr>\n<\/table>\n<p>These are early figures from two reports at slightly different times, so the exact numbers differ, and institutions usually bid on the last day, so day-1 subscription status says little about the final outcome. SBI Securities has a Neutral view on the Paras Healthcare IPO and Ventura has a Subscribe view. I did not find the issue valuation or the implied market capitalisation in the pages I read, so I cannot say whether the price band is high or low against listed hospital peers.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Network_and_Business_Behind_the_Paras_Healthcare_IPO\"><\/span><strong>Network and Business Behind the Paras Healthcare IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Paras Healthcare IPO: network item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Detail<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Hospitals and beds<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">8 hospitals and 2,211 beds, an average of about 276 beds per hospital (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Doctors and nurses<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">1,084 doctors and 1,937 nurses<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Accreditation<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">7 of 8 hospitals are NABH accredited<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Regional spread<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">North India contributed 66.07% of FY26 revenue<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Subsidiaries with losses<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">The Ranchi and Srinagar subsidiaries reported losses<\/td>\n<\/tr>\n<\/table>\n<p>The business is concentrated in North India, so a local regulatory change, a competitor opening nearby or a slowdown in one city has more effect than it would for a pan-India chain. The Srinagar and Ranchi units are newer, and the loss in those subsidiaries is part of why the fresh issue includes money for the Srinagar subsidiary.<\/p>\n<p>A practical way to read the Paras Healthcare IPO is to separate the operating story from the deal structure. The operating story is better occupancy, better margins and a first profit, while the deal structure is a large offer for sale and debt repayment. An applicant who likes the first part but dislikes the second can wait for the listing and judge the stock at the traded price, which is a choice and not a recommendation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_in_the_Paras_Healthcare_IPO\"><\/span><strong>Risks in the Paras Healthcare IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Risk:<\/strong> Staff attrition was 60.38% in FY26 and 66.74% in FY25, though it fell to 12.01% in Q1 FY27 (not annualised), and a hospital depends on retaining doctors and nurses.<\/p>\n<p><strong>Risk:<\/strong> Contingent liabilities of Rs 398.44 crore equal 89.55% of net worth, which puts net worth near Rs 445 crore (my calculation), so a loss on these claims would be material.<\/p>\n<p><strong>Risk:<\/strong> Secured borrowings were Rs 990.33 crore at 31 Aug 2026, so interest costs and refinancing matter even after the Rs 320.90 crore debt repayment from the fresh issue.<\/p>\n<p><strong>Risk:<\/strong> A large offer for sale means existing shareholders are selling, which investors should weigh against the growth story.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_to_Watch_Next_for_the_Paras_Healthcare_IPO\"><\/span><strong>What to Watch Next for the Paras Healthcare IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>The final subscription status after the close on 23 Oct, in particular QIB and retail demand<\/li>\n<li>The basis of allotment on 26 Oct and your allotment status on the registrar&#8217;s website<\/li>\n<li>Refunds on 27 Oct and credit of shares to demat accounts<\/li>\n<li>The Paras Healthcare IPO listing on 28 Oct 2026 and the first-day trading<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Paras Healthcare IPO offers a hospital chain whose occupancy rose to 61.75% and whose profit turned positive, but it also carries high attrition, large contingent liabilities, Rs 990.33 crore of secured borrowings and a heavy offer for sale. Day-1 subscription is low and not a signal. Read the offer document, compare the valuation with peers and apply only within your own risk limit.<\/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 with the official NSE (nseindia.com) and BSE (bseindia.com) websites 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<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_price_band_and_lot_size_of_the_Paras_Healthcare_IPO\"><\/span><strong>What are the price band and lot size of 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 and one lot is 21 shares, which is Rs 14,553 at the upper band. Retail investors can bid for up to 13 lots.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"When_does_the_Paras_Healthcare_IPO_open_allot_and_list\"><\/span><strong>When does the Paras Healthcare IPO open, allot and list?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Bidding runs from 21 Oct to 23 Oct 2026, the basis of allotment is on 26 Oct, refunds are on 27 Oct and listing is proposed for 28 Oct 2026 on BSE and NSE. Dates after the close can change, so check the exchange notices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_did_hospital_occupancy_and_profit_change_at_Paras_Healthcare\"><\/span><strong>How did hospital occupancy and profit change at Paras Healthcare?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Occupancy was 52.46% in FY24, 50.78% in FY25 and 61.75% in FY26. Profit after tax moved from a loss of Rs 57.98 crore in FY25 to a profit of Rs 43.83 crore in FY26, and Q1 FY27 profit was Rs 49.68 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_will_the_Paras_Healthcare_IPO_money_be_used\"><\/span><strong>How will the Paras Healthcare IPO money be used?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Of the Rs 500 crore fresh issue, Rs 320.90 crore is for repaying debt and Rs 54.10 crore for the Srinagar subsidiary, with the rest for general corporate purposes. The Rs 950 crore offer for sale goes to the selling shareholders and not to the company.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_subscription_status_of_the_Paras_Healthcare_IPO_on_day_1\"><\/span><strong>What is the subscription status of the Paras Healthcare IPO on day 1?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Around 12:30 PM on 21 Oct 2026 the issue was about 0.08 to 0.09 times subscribed, with retail at about 0.42 times and QIBs yet to bid. Institutions often bid on the last day, so early numbers are weak signals.<\/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 staff attrition of 60.38% in FY26, contingent liabilities of Rs 398.44 crore, secured borrowings of Rs 990.33 crore and 66.07% of revenue from North India. Losses in the Ranchi and Srinagar subsidiaries are also a concern.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_Paras_Healthcare_IPO_worth_applying_for\"><\/span><strong>Is the Paras Healthcare IPO worth applying for?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> That depends on your risk limit and view of the valuation, which I could not find in the pages I read. SBI Securities rates it Neutral and Ventura says Subscribe, so brokers disagree. Read the offer document before bidding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What are the price band and lot size of the Paras Healthcare IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The price band is Rs 660 to Rs 693 per share and one lot is 21 shares, which is Rs 14,553 at the upper band. 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Institutions often bid on the last day, so early numbers are weak signals.\"}},{\"@type\":\"Question\",\"name\":\"What are the main risks in the Paras Healthcare IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main risks are staff attrition of 60.38% in FY26, contingent liabilities of Rs 398.44 crore, secured borrowings of Rs 990.33 crore and 66.07% of revenue from North India. Losses in the Ranchi and Srinagar subsidiaries are also a concern.\"}},{\"@type\":\"Question\",\"name\":\"Is the Paras Healthcare IPO worth applying for?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"That depends on your risk limit and view of the valuation, which I could not find in the pages I read. SBI Securities rates it Neutral and Ventura says Subscribe, so brokers disagree. Read the offer document before bidding.\"}},{\"@type\":\"Question\",\"name\":\"Is this article investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Paras Healthcare IPO: Rs 1,450 crore issue at Rs 660 to Rs 693, occupancy up to 61.75%, profit turnaround, day-1 subscription, risks and allotment dates.<\/p>\n","protected":false},"author":36,"featured_media":321046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[14038,3815,5351,14037,4446,14040,14039],"class_list":["post-321050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hospital-ipo","tag-ipo-allotment","tag-mainboard-ipo","tag-paras-healthcare","tag-paras-healthcare-ipo","tag-paras-healthcare-ipo-price-band","tag-paras-healthcare-ipo-subscription-status"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["321046"],"rank_math_title":["Paras Healthcare IPO: Occupancy, Profit and Risks"],"rank_math_description":["Paras Healthcare IPO opened on 21 Oct 2026 at Rs 660 to Rs 693. See hospital occupancy, profit, issue terms, subscription status, risks and allotment dates."],"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-hospital-occupancy-profit-and-what-investors-should-check.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/321050","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\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=321050"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/321050\/revisions"}],"predecessor-version":[{"id":321051,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/321050\/revisions\/321051"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/321046"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=321050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=321050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=321050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}