Paras Healthcare launches 14.5 bn rupee IPO as broker flags valuation risks
Hospital operator Paras Healthcare is offering shares worth INR 14,500 Mn at a INR 660–693 band; broker Deven Choksey notes a return to profit in FY26.
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what happened
Indian private hospital operator Paras Healthcare is preparing a public share offering worth INR 14,500 Mn. The deal combines a fresh issue of INR 5,000 Mn with an offer for sale by existing shareholders of INR 9,500 Mn. The price band is INR 660 to 693 per share.
According to Moneycontrol, citing broker Deven Choksey, the company runs eight multispecialty facilities with 2,211 beds across five states and one union territory. Bed occupancy climbed to 61.75% in FY26 from 50.78% in FY25. Revenue rose 24.1% to INR 16,060 Mn, and net profit reached INR 438 Mn after losses in FY24 and FY25. Proceeds from the fresh issue will go toward repaying INR 3,750 Mn of debt.
why it matters
The broker highlights risks including revenue concentration, a 43% share of government payors, receivable days of 166, and possible occupancy dilution as new capacity opens. By its calculation, at the upper band of INR 693 the stock trades at 79 times trailing earnings. For investors, the deal offers a read on how the market prices Indian private hospital operators, with the earnings multiple and debt load in focus.
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sources
- Subscribe for Paras Healthcare Ltd IPO; Deven Choksey — moneycontrol.com, 21 October 2026 at 09:03 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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