Clinical specialty-led hospital platform Paras Healthcare has fixed the price band for its initial public offering (IPO) at Rs 660-693 per equity share, through which the company aims to raise Rs 1 ,450 crore.

The IPO will open for subscription on October 21 and close on October 23, 2026. The issue comprises a fresh issue of 72.15 lakh shares aggregating to Rs 500 crore and an offer for sale (OFS) of 1.37 crore shares worth Rs 950 crore.

The company has set the lot size at 21 shares. Retail investors can bid for a minimum of 21 shares, requiring an investment of Rs 14,553 at the upper end of the price band. At the maximum, retail investors can bid for 13 lots, or 273 shares, amounting to Rs 1,89,189.

The allotment of shares is expected to be finalised on October 26, 2026. The company’s shares are tentatively scheduled to list on the NSE and BSE on October 28, 2026.

The company will not receive any proceeds from the offer for sale, with the proceeds accruing to the selling shareholders after deducting their respective portions of offer-related expenses and applicable taxes.

“The proceeds from the Offer for Sale shall be received by the Selling Shareholders after deducting their proportion of Offer expenses and relevant taxes thereon. Our Company will not receive any proceeds from the Offer for Sale. Each of the Selling Shareholders will be entitled to their respective portion of the proceeds from the Offer for Sale, net of their respective portion of the Offer related expenses,” the company said in its red herring prospectus (RHP).

The company proposes to use the net proceeds from the fresh issue to prepay or repay, in full or in part, certain outstanding borrowings; invest in its wholly owned subsidiary, Plus Medicare Hospitals Private Limited (PMHPL), to facilitate the repayment or prepayment of its borrowings; and meet general corporate purposes.

JM Financial , BofA Securities India and Nuvama Wealth Management are the book-running lead managers to the issue. MUFG Intime India is the registrar.

About Paras Healthcare

Paras Healthcare operates a network of eight hospitals under the Paras Health brand, providing tertiary and quaternary healthcare services. As of June 30, 2026, the company had an aggregate capacity of 2,211 beds across North India, Bihar and Jharkhand. Its hospitals 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 the Union Territory of Jammu and Kashmir. The network spans five states and one Union Territory. The company has outlined plans to add a 300-bed hospital in Gurugram by fiscal 2027 and a 500-bed hospital in Ludhiana by fiscal 2028. It expects to increase its total bed capacity to 3,011 beds by March 31, 2028.