Paras Healthcare Limited, which operates hospitals under the Paras Health brand, has raised ₹652.5 crore from anchor investors ahead of its initial public offering (IPO), scheduled to open for public subscription on October 21. The hospital chain allotted 94,15,584 equity shares to institutional investors at ₹693 per share, attracting participation from domestic mutual funds, global investment firms and insurance companies.

The anchor book drew investors including SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, WhiteOak Capital, Abu Dhabi Investment Authority, BlackRock and Eastspring Investments. The participation reflects institutional investor interest in India’s organised hospital sector.

Paras Healthcare’s IPO aims to raise ₹1,450 crore, comprising a fresh issue of shares worth ₹500 crore and an offer for sale (OFS) of ₹950 crore by existing shareholders. The price band is fixed at ₹660-₹693 per share, and the issue will close on October 23, 2026. The shares are tentatively scheduled to list on the BSE and NSE on October 28.

Of the fresh issue proceeds, the company plans to use a substantial portion to repay or prepay outstanding borrowings, with the remaining funds allocated to general corporate purposes and investment in its subsidiary, Plus Medicare Hospitals, which operates its Srinagar facility. The OFS will provide an exit opportunity for existing shareholders, including promoter Dharminder Kumar Nagar and investor Commelina Ltd.

Paras Healthcare operates eight hospitals with a combined capacity of 2,211 beds across five states and one Union Territory. Its facilities are 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.

The company is planning further capacity expansion through a 300-bed hospital in Gurugram and a 500-bed facility in Ludhiana. These projects are expected to increase its total bed capacity to 3,011 by March 2028, subject to the planned development and commissioning schedules.

Paras Healthcare reported total income of approximately ₹1,629 crore in FY2025-26, up around 24% from ₹1,314 crore in the previous financial year. It also recorded a profit after tax of approximately ₹44 crore, compared with a loss of ₹58 crore in FY2024-25.

The IPO marks a significant capital-market milestone for Paras Healthcare as it seeks to strengthen its financial position and expand its hospital network. The use of fresh proceeds for debt repayment, alongside planned bed-capacity additions, will be key factors for investors assessing the company’s next phase of growth.