Mumbai: Paras Healthcare, a hospital chain operating healthcare facilities across five states, has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a proposed Rs 1,800 crore initial public offering (IPO).
The company provides healthcare services through a network of eight hospitals with an aggregate bed capacity of 2,211 beds as of March 31, 2026, across Haryana, Uttar Pradesh, Bihar, Jharkhand, and Jammu & Kashmir.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 500 crore and an offer for sale (OFS) of equity shares worth up to Rs 1,300 crore by the selling shareholder.
Paras Healthcare plans to utilise the net proceeds from the fresh issue towards repayment or prepayment of certain outstanding borrowings, investment in its wholly owned subsidiary PMHPL, which operates a hospital in Srinagar, for repayment of its borrowings, and for general corporate purposes.
As part of its expansion strategy, the company plans to add a 300-bed hospital in Gurugram and a 500-bed hospital in Ludhiana, expected to be operational by Fiscal 2027 and Fiscal 2028, respectively.
The company expects to increase its total bed capacity across its hospitals to 3,011 beds by March 31, 2028.
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