Paras Healthcare IPO
Paras Healthcare Ltd. IPO is a mainboard book-building public issue aggregating to approximately ₹1,450 crore. The issue comprises a fresh issue of shares worth ₹500 crore and an offer for sale (OFS) of approximately ₹950 crore.
The IPO opened for subscription on 21 October 2026 and will close on 23 October 2026. The price band is ₹660 to ₹693 per share, and the minimum application lot consists of 21 shares.
The basis of allotment is expected to be finalised on 26 October 2026. Refund processing and demat credit are scheduled for 27 October 2026, while the tentative listing date on NSE and BSE is 28 October 2026, subject to the final exchange timetable.
Paras Healthcare operates hospitals under the Paras Health brand, with a reported network of eight hospitals and an aggregate capacity of 2,211 beds as of 30 June 2026. The company focuses on tertiary and quaternary healthcare services and specialised clinical care.
Paras Healthcare IPO Overview
Paras Healthcare Limited is launching a mainboard book-building IPO with a total issue size of approximately ₹1,450 crore. The issue consists of a fresh issue aggregating to ₹500 crore and an offer for sale aggregating to ₹950 crore.
The fresh issue proceeds are intended to support the company’s stated objectives, including repayment or prepayment of certain borrowings by the company and its wholly owned subsidiary, as well as general corporate purposes. The OFS proceeds will go to the selling shareholders.
The company operates hospitals under the Paras Health brand and provides tertiary and quaternary healthcare services across North India, Bihar and Jharkhand.
Paras Healthcare IPO Details
| Particulars | Details |
|---|---|
| Company Name | Paras Healthcare Ltd. |
| IPO Type | Mainboard Book-Building Issue |
| IPO Open Date | 21 October 2026 |
| IPO Close Date | 23 October 2026 |
| Anchor Investor Date | 19 October 2026 |
| Expected Allotment Date | 26 October 2026 |
| Refund / Unblocking Date | 27 October 2026 |
| Expected Demat Credit | 27 October 2026 |
| Expected Listing Date | 28 October 2026 |
| Face Value | ₹1 per share |
| Price Band | ₹660 – ₹693 per share |
| Lot Size | 21 Shares |
| Total Issue Size | ₹1,450 crore |
| Fresh Issue | ₹500 crore |
| Offer for Sale | ₹950 crore |
| Total Issue Shares | 2,09,23,520 shares |
| Fresh Issue Shares | 72,15,007 shares |
| OFS Shares | 1,37,08,513 shares |
| Listing Exchanges | NSE and BSE |
| Promoter | Dharminder Kumar Nagar |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Book Running Lead Managers | JM Financial Ltd., BOFA Securities India Ltd. and Nuvama Wealth Management Ltd. |
Paras Healthcare IPO Issue Size
The public issue comprises fresh capital raised by the company and shares offered for sale by existing shareholders.
| Issue Component | Shares | Amount |
|---|---|---|
| Total Issue | 2,09,23,520 | ₹1,450 crore |
| Fresh Issue | 72,15,007 | ₹500 crore |
| Offer for Sale | 1,37,08,513 | ₹950 crore |
Paras Healthcare IPO Timeline
| IPO Event | Date | Status |
|---|---|---|
| Anchor Investor Bidding | 19 October 2026 | Scheduled |
| IPO Opens | 21 October 2026 | Opened |
| IPO Closes | 23 October 2026 | Scheduled |
| Basis of Allotment | 26 October 2026 | Expected |
| Refund / ASBA Unblocking | 27 October 2026 | Expected |
| Shares Credited to Demat | 27 October 2026 | Expected |
| Stock Exchange Listing | 28 October 2026 | Expected |
Note: Refund, demat credit, allotment and listing dates are indicative and may change. Confirm the final timetable through official exchange and registrar updates.
Paras Healthcare IPO Investor Reservation
The issue reservation details supplied for the IPO allocate shares among qualified institutional buyers, non-institutional investors and retail individual investors.
| Investor Category | Shares | Percentage |
|---|---|---|
| QIB Total | 1,56,92,640 | 75.00% |
| Anchor Investor Portion | 94,15,584 | 45.00% |
| QIB Excluding Anchor | 62,77,056 | 30.00% |
| NII / HNI | 31,38,528 | 15.00% |
| Big NII (Above ₹10 Lakh) | 20,92,352 | 10.00% |
| Small NII (Below ₹10 Lakh) | 10,46,176 | 5.00% |
| Retail Individual Investors | 20,92,352 | 10.00% |
| Total Issue | 2,09,23,520 | 100.00% |
Paras Healthcare IPO Lot Size and Minimum Investment
The minimum application is for 21 shares. Applications must be made in multiples of the prescribed lot size, subject to the applicable investor-category limits and IPO rules.
| Application Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 21 | ₹14,553 |
| Retail Maximum | 13 | 273 | ₹1,89,189 |
| Small HNI Minimum | 14 | 294 | ₹2,03,742 |
| Small HNI Maximum | 68 | 1,428 | ₹9,89,604 |
| Big HNI Minimum | 69 | 1,449 | ₹10,04,157 |
The amounts above use the upper price band of ₹693 per share. For one retail lot, the calculation is 21 × ₹693 = ₹14,553. At the lower price band of ₹660, the same lot costs ₹13,860.
Paras Healthcare IPO Subscription Status
According to the subscription snapshot supplied for 21 October 2026 at 5:07 PM, the Paras Healthcare IPO was subscribed 0.15 times on Day 1. Retail subscription was 0.73 times, NII subscription was 0.08 times, and the QIB category excluding anchor investors was reported at 0.00 times in the supplied snapshot.
| Investor Category | Subscription | Shares Offered | Shares Bid For |
|---|---|---|---|
| QIB (Excluding Anchor) | 0.00x | 62,77,056 | 588 |
| NII | 0.08x | 31,38,528 | 2,54,856 |
| Big NII (Above ₹10 Lakh) | 0.05x | 20,92,352 | 1,04,790 |
| Small NII (Below ₹10 Lakh) | 0.14x | 10,46,176 | 1,50,066 |
| Retail | 0.73x | 20,92,352 | 15,27,981 |
| Total | 0.15x | 1,15,07,936 | 17,83,425 |
Total applications reported: 51,711.
Paras Healthcare IPO Anchor Investors
Paras Healthcare IPO reportedly raised ₹652.50 crore from anchor investors ahead of the public subscription period. The anchor investor bidding date was 19 October 2026.
| Particulars | Details |
|---|---|
| Anchor Investor Bid Date | 19 October 2026 |
| Anchor Shares Offered | 94,15,584 |
| Anchor Portion Amount | ₹652.50 crore |
| 50% Anchor Lock-in End Date | 25 November 2026 |
| Remaining 50% Lock-in End Date | 24 January 2027 |
Consult the final anchor investor allocation document for the names of participating funds and their final share allocations.
About Paras Healthcare Ltd.
Paras Healthcare Limited was incorporated in 1987 and operates a clinical specialty-led hospital platform under the Paras Health brand. The company provides tertiary and quaternary healthcare services across North India, Bihar and Jharkhand.
As of 30 June 2026, the company reported operating eight hospitals with an aggregate capacity of 2,211 beds across Gurugram, Panchkula, Patna, Darbhanga, Kanpur, Udaipur, Ranchi and Srinagar.
Its clinical focus includes cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics and sports injury, and renal sciences. These specialties, referred to in the supplied company information as CONGOR specialties, contributed 75.30% of revenue in FY2026.
The company follows a growth strategy built around mature, emerging and new hospitals. Planned projects include a 300-bed hospital in Gurugram and a 500-bed hospital in Ludhiana, with the stated aim of increasing total network capacity to 3,011 beds by March 2028.
As of 31 March 2026, the company reported 4,670 employees, including 1,084 doctors and 1,937 nurses.
Paras Healthcare Business Strengths
- Established hospital brand with a reported operating history dating back to 1987.
- Network of eight hospitals across North India, Bihar and Jharkhand.
- Reported aggregate bed capacity of 2,211 beds as of 30 June 2026.
- Focus on high-acuity clinical specialties, including cardiac sciences, oncology and neurosciences.
- Presence in established and developing healthcare markets.
- Planned hospital expansions in Gurugram and Ludhiana.
- Reported expansion target of 3,011 beds by March 2028.
- Clinical workforce comprising doctors, nurses and other healthcare professionals.
Business strengths do not eliminate risks associated with hospital operations, capital expenditure, borrowing, competition or changes in healthcare regulation.
Paras Healthcare IPO Financial Performance
The following figures are reproduced from the consolidated financial information supplied for this article. Amounts are in ₹ crore, except where otherwise stated.
| Particulars (₹ Crore) | 30 Jun 2026 | FY2026 | FY2025 | FY2024 |
|---|---|---|---|---|
| Total Assets | 2,202.88 | 2,071.14 | 1,810.45 | 1,477.66 |
| Total Income | 478.75 | 1,628.78 | 1,314.21 | 1,151.02 |
| Profit After Tax | 49.68 | 43.83 | -57.98 | -15.33 |
| EBITDA | 113.48 | 335.58 | 156.46 | 154.41 |
| Net Worth | 444.96 | 394.94 | 280.49 | 338.51 |
| Reserves and Surplus | 434.86 | 384.84 | 270.73 | 328.75 |
| Total Borrowings | 1,429.49 | 1,393.86 | 1,232.12 | 923.92 |
The supplied financial summary reports an increase in total income from ₹1,314.21 crore in FY2025 to ₹1,628.78 crore in FY2026. It also reports a change in profit after tax from a loss of ₹57.98 crore in FY2025 to a profit of ₹43.83 crore in FY2026.
These figures have not been independently reconciled here with the RHP. Check the official restated financial statements before publication. June 2026 figures cover a three-month period and should not be directly compared with full-year figures without accounting for the different reporting periods.
Paras Healthcare IPO Key Performance Indicators
| KPI | 30 June 2026 | 31 March 2026 |
|---|---|---|
| Return on Equity (ROE) | 11.83% | 12.98% |
| Return on Capital Employed (ROCE) | 4.23% | 10.76% |
| Debt / Equity | 3.21x | 3.53x |
| Return on Net Worth (RoNW) | 11.83% | 12.98% |
| PAT Margin | 10.38% | 2.69% |
| EBITDA Margin | 23.70% | 20.60% |
| Net Asset Value (NAV) | ₹44.06 | ₹39.11 |
| Price-to-Book Ratio | 15.73x | 17.72x |
The indicators above are reproduced from the supplied KPI data. Investors should review the definitions, reporting periods and calculation methods in the official offer documents.
Paras Healthcare IPO Valuation
The IPO price band is ₹660 to ₹693 per share, with a reported post-issue market capitalisation of approximately ₹7,498.34 crore at the upper price band.
| Valuation Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS (₹) | ₹4.34 | ₹18.37 |
| P/E Ratio | 159.68x | 37.72x |
| Market Capitalisation at Offer Price | ₹6,998.34 crore | ₹7,498.34 crore |
| Upper Price Band | ₹693 | ₹693 |
Valuation note: Verify the pre-IPO and post-IPO EPS and P/E figures against the RHP, including the earnings and share-capital bases used. Investors should assess valuation alongside debt, cash flow, growth plans, operating margins and risks.
Paras Healthcare IPO Objects of the Issue
The fresh issue proceeds are intended to support the company’s stated funding requirements. The supplied issue-object information identifies borrowings of the company and its wholly owned subsidiary as key uses, along with general corporate purposes.
| # | Issue Object | Amount (₹ Crore) |
|---|---|---|
| 1 | Prepayment or scheduled repayment, in full or part, of certain outstanding borrowings of the company | 320.90 |
| 2 | Investment in wholly owned subsidiary PMHPL for repayment or prepayment of certain borrowings | 54.10 |
| 3 | General corporate purposes | Included in the stated total allocation |
| Total | Net proceeds allocated to stated objects | 375.00 |
The amounts above are reproduced from the supplied issue-object summary. Check the final use-of-proceeds allocation against the RHP.
Paras Healthcare Shareholding Structure
| Shareholder Category | Pre-IPO Holding | Post-IPO Holding |
|---|---|---|
| Promoter and Promoter Group | 72.80% | Refer to final offer documents |
| Public | 27.20% | Refer to final offer documents |
| Total | 100.00% | 100.00% |
Company Promoter: Dharminder Kumar Nagar.
Paras Healthcare IPO Offer for Sale Shareholders
The offer-for-sale component allows existing shareholders to sell part of their shareholding. The OFS proceeds go to the selling shareholders rather than being received by the company.
| Selling Shareholder | Category | Estimated Amount |
|---|---|---|
| Dharminder Kumar Nagar | Promoter | ₹300 crore |
| Commelina Ltd. | Corporate | ₹650 crore |
| Total | — | ₹950 crore |
Paras Healthcare IPO Broker Recommendations
The recommendation counts supplied for this article are shown below. Broker opinions may differ and should not be treated as a guarantee of listing performance or future returns.
| Review Source | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 4 | 0 | 2 | 0 |
| Members | 0 | 0 | 0 | 0 |
These counts reflect the supplied snapshot and do not constitute a recommendation from TradingMinds.
Paras Healthcare IPO: Key Risks to Consider
- Borrowings: The supplied financial data reports substantial borrowings, making debt levels and repayment plans important to review.
- Capital-intensive operations: Hospitals require ongoing investment in buildings, medical equipment, staffing and technology.
- Expansion execution: New hospitals and additional beds may require time to reach planned occupancy and profitability.
- Operating performance: Hospital profitability can be affected by occupancy, treatment mix, costs and reimbursement levels.
- Competition: The company competes with other hospital chains and healthcare providers.
- Regulatory environment: Healthcare businesses are subject to applicable clinical, safety, licensing and other regulatory requirements.
- Valuation: Investors should assess the offer price against verified earnings, net debt, cash flows and comparable listed companies.
Paras Healthcare IPO Registrar Details
| Particulars | Details |
|---|---|
| Registrar | MUFG Intime India Pvt. Ltd. |
| Phone | 022-49186000 |
| parashealthcare.ipo@in.mpms.mufg.com | |
| Official Website | MUFG Intime India |
Paras Healthcare IPO Lead Managers
- JM Financial Ltd.
- BOFA Securities India Ltd.
- Nuvama Wealth Management Ltd.
For the complete issue documentation, investors should refer to the official Red Herring Prospectus and applicable exchange filings.
Paras Healthcare Ltd. Contact Details
| Particulars | Details |
|---|---|
| Company Name | Paras Healthcare Ltd. |
| Address | 1st Floor, Tower B, Paras Twin Towers, Golf Course Road, Sector 54, Gurugram, Haryana – 122002 |
| Phone | +91 124 430 2163 |
| cs@parashospitals.com | |
| Company Website | Paras Health official website |
Paras Healthcare IPO Quick Summary
Paras Healthcare IPO is a mainboard book-building issue with a total size of ₹1,450 crore, including a fresh issue of ₹500 crore and an OFS of ₹950 crore.
The IPO opened on 21 October 2026 and closes on 23 October 2026. The price band is ₹660 to ₹693, and the lot size is 21 shares.
The minimum investment for one retail lot is ₹14,553 at the upper price band. At the lower price band, one lot costs ₹13,860.
The basis of allotment is expected on 26 October 2026, with a tentative listing date of 28 October 2026. Both dates are subject to the final exchange timetable.
The company operates eight hospitals with a reported capacity of 2,211 beds as of 30 June 2026. Investors should examine the official offer documents, financial position, valuation, debt and expansion plans before making an investment decision.
Paras Healthcare IPO FAQs
Paras Healthcare IPO Information and Updates
- Paras Healthcare IPO information on InvestorGain
- Paras Health official website
- MUFG Intime India – IPO registrar website
For final issue terms, financial statements, risk factors and the complete list of issue intermediaries, refer to the official Paras Healthcare IPO Red Herring Prospectus and exchange filings.
Disclaimer
This Paras Healthcare IPO article is intended for general informational and educational purposes only. It is not an offer to buy or sell securities and should not be considered personalised investment advice.
IPO dates, subscription figures, issue details, financial data, valuation metrics and issue-object allocations should be checked against the latest official disclosures. Any changes in the offer documents or exchange timetable may affect the information presented.
TradingMinds does not guarantee IPO allotment, listing gains or investment returns. Investors should read the RHP, evaluate the risks and consult a qualified financial adviser if necessary before making investment decisions.
Last Updated: 22 October 2026.
