Paras Healthcare IPO sets ₹660–693 band, opens October 21

Paras Healthcare has priced its ₹1,450 crore initial public offering at ₹660–693 per equity share, with subscriptions opening on October 21 and closing on October 23, 2026, according to Economic Times Markets. The offer comprises up to ₹500 crore in newly issued shares and an offer for sale of up to ₹950 crore. Each share has a face value of ₹1.

Managing director Dharminder Kumar Nagar said the company intends to use the proceeds to prepay or repay certain outstanding borrowings, invest in its wholly owned subsidiary Plus Medicare Hospitals, which runs a hospital in Srinagar, and meet general corporate expenses. The fresh issue raises capital for the company; the offer-for-sale component represents shares sold by existing holders rather than new funding for the hospital operator.

The Gurgaon-based company operates hospitals across northern and eastern India. As of March 31, it had eight hospitals with a combined 2,211 beds, and the report describes it as one of the largest healthcare providers in Bihar and Jharkhand by bed capacity. JM Financial, BofA Securities and Nuvama Wealth Management are the issue’s book-running managers.