Paras Healthcare Ltd.
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Overview
Paras Healthcare Limited operates the “Paras Health” clinical specialty-led hospital network providing tertiary and quaternary care across North India, Bihar and Jharkhand. Paras Healthcare Limited runs eight hospitals with 2,211 beds (as of June 30, 2026), focusing heavily on high-acuity specialties such as cardiac sciences, oncology, neurosciences, gastro sciences, orthopedics/sports injury and renal sciences, supported by advanced critical-care infrastructure, accredited facilities, and a cloud-first digital hospital ecosystem.
- Opening Date
Oct 21, 2026
- Closing Date
Oct 23, 2026
- Listing Date
Oct 28, 2026
- IPO Type
Mainboard
- IPO Status
Closing today
- Issue Size
1450 Cr
- Fresh Issue
500 Cr
- Offer for Sale
950 Cr
- Price Band
₹660 - ₹693
- Lot Size
21
IPO Timeline
Financials
Use of IPO funds
Key Performance Indicator
- P/E Ratio
159.68
- EPS
4.34
- ROE
11.83%
- ROCE
4.23%
- RONW
11.83%
- Debt to Equity Ratio
3.21
- PAT Margin
10.38%
- EBITDA Margin
23.7%
- P/B
15.73
Bull vs Bear
Bull case
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Heavy focus on complex specialties can build strong doctor reputation and referrals, which is harder for small hospitals to copy and supports pricing power over time.
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Asset-light expansion lowers upfront cash strain versus owning every building, helping the network grow while staying flexible if a city ramps up slowly.
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If technology improves patient experience and coordination, repeat visits and referrals can rise, making each hospital more productive without adding many new beds.
Bear case
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Past losses show new hospitals can drag profits for years, so future expansion may again pressure earnings if volumes don’t ramp fast enough.
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Subsidiary losses and negative net worth can force the parent to keep funding them, reducing cash available for upgrades, growth, or debt reduction.
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High staff attrition can disrupt service quality and raise salary and hiring costs, which can squeeze margins if price increases are capped or resisted.
