- Summary
- Paras Healthcare IPO begins from 21st October 2026 to 23rd October 2026. The price band will be between ₹660 and ₹693 per share, and the total issue size will be ₹1,450 crore, which includes a fresh issue and an offer for sale.
- Paras Healthcare operates its multispecialty hospitals under the Paras Health brand. The minimum lot size will be 21 shares. For a retail investor, the minimum investment amount will be ₹14,553, and the maximum will be ₹1,89,189 for 273 shares.
- Minimum HNI small investors require 14 lots containing 294 shares amounting to ₹2,03,742, whereas the S-HNI maximum is 68 lots containing 1,428 shares amounting to ₹9,89,604.
Paras Healthcare shares will be open on the market from 21 October 2026 to 23 October 2026. The IPO size is ₹1,450 crore, comprising a new issue of ₹500 crore and an offer for sale of ₹950 crore. The price range per share is ₹660 to ₹693. The allotment date is 26 October 2026, and the listing date on the stock exchanges BSE and NSE will be 28 October 2026.
The lot size of shares is 21 shares. Retail investors can apply for a minimum of 21 to 273 shares, amounting to ₹14,553 to ₹1,89,189. Under the B-HNI category, the minimum investment is 69 lots, totaling 1,449 shares, valued at ₹10,04,157.
Paras Healthcare IPO Key Details
Here is a quick look at the important details of the Paras Healthcare IPO:
| IPO Open Date | 21 October, 2026 |
| Close Date | 23, October, 2026 |
| Face value | ₹1 per share |
| Price Band | ₹660 to ₹693 |
| Issue price | – |
| IPO Lot Size | 21 shares |
| Offer for sale | 1,37,08,513 shares of ₹1 (₹950 cr) |
| Fresh issue | 72,15,007 shares (₹500 cr) |
| Issue Type | Bookbuilding IPO |
| Listing at | BSE, NSE |
| Total Issue Size (₹ Crore) | 2,09,23,520 shares (₹1,450 cr) |
| Minimum Investment | ₹14,553 (21 shares) |
Paras Healthcare IPO Timeline
The key dates for the Paras Healthcare IPO are given below:
| Bidding Opens | 21 October, 2026 |
| Bidding Closes | 23 October, 2026 |
| Allotment Planned For | 26 October, 2026 |
| Refunds Start On | 27 October, 2026 |
| Share Credit to Demat | 27 October, 2026 |
| Listing Scheduled | 28 October, 2026 |
| Cut-off for UPI mandate | 23 October, 2026 5:00 PM |
Paras Healthcare Key Performance Indicators (KPIs)
Paras Healthcare IPO KPIs are presented in the following table:
| KPIs | FY 2026 | FY 2025 | FY 2024 |
| ROE (%) | 12.98% | (18.73%) | (8.32%) |
| ROCE (%) | 10.76% | 2.71% | 5.86% |
| Debt-Equity (times) | 3.53 | 4.39 | 2.73 |
| RoNW (%) | 12.98% | (18.73%) | (8.32%) |
| PAT Margin (%) | 2.69% | (4.41%) | (1.33%) |
| EBITDA Margin (%) | 20.60% | 11.91% | 13.42% |
| Price Book Value (P/B ratio) | 17.72 | – |
Paras Healthcare IPO Financials
Here is an overview of the company’s financial figures:
| Period | FY 2026 | FY 2025 | FY 2024 |
| Total Assets | 20,711.41 | 18,104.51 | 14,776.58 |
| Revenue from operations | 16,059.52 | 12,940.63 | 11,290.39 |
| Profit After Tax | 438.34 | (579.83) | (153.31) |
Paras Healthcare IPO Subscription Status
Subscription Details Not Yet Available
Subscription information will be displayed once the bidding process starts.
Bidding is open from 10:00 AM to 5:00 PM on public issue days.
Paras Healthcare IPO Grey Market Premium
The listing date for the Paras Healthcare IPO is expected on 28, October 2026, with a price range of ₹660- ₹693 per equity share. Grey market premiums (GMPs) can fluctuate frequently because they are unofficial.
| GMP Date | GMP | Est. Listing Price on upper price-₹693.00 | Est. Profit* | Trend |
|---|---|---|---|---|
| 16-Oct 11:37 | ₹88 (12.70%) ▼ | ₹781 | ₹1,848 | Stable |
| 15-Oct 23:37 | ₹95 (13.71%) ▲ | ₹788 | ₹1,995 | Stable |
| 14-Oct 23:37 | ₹83 (0.00%) ─ | ₹83 | ₹0 | Initial |
Note: GMP represents sentiment in the unofficial market and should not be considered an indication of assured listing returns.
Paras Healthcare IPO Reservation
The share allocation for each investor category is outlined below:
| Investor Category | Reservation |
| Market Maker | – |
| QIB | Not more than 75% of the net offer |
| NIIs | Not less than 15% of the offer |
| Retail Investors | Not less than 10% of the offer |
| Total Shares | – |
Paras Healthcare IPO Lot Size
The applicable lot sizes for different investor categories are as follows:
| Application Type | Lots | Shares | Amount |
| Individual Investor – Minimum | 1 | 21 | ₹14,553 |
| Individual Investor – Maximum | 13 | 273 | ₹1,89,189 |
| S-HNI Minimum | 14 | 294 | ₹2,03,742 |
| S-HNI Maximum | 68 | 1,428 | ₹9,89,604 |
| B-HNI Minimum | 69 | 1,449 | ₹10,04,157 |
Paras Healthcare IPO Anchor Investors
The allotment status of the Paras Healthcare IPO is currently not yet available. As a result, information related to anchor bidding, share allocation, investment value, and lock-in periods will be added once it is disclosed.
Paras Healthcare IPO Prospectus
For more information on the Paras Healthcare IPO, check the links below:
About Paras Healthcare IPO
Incorporation: 1987
Managing Director: Dr. Dharminder Kumar Nagar
The Paras Healthcare firm operates a chain of multispecialty hospitals under the name ‘Paras Health’ and focuses on affordable, high-quality healthcare for its customers. Paras Healthcare offers specialized medical services across various fields, including cardiology, oncology, neurology, gastroenterology, orthopaedics, and renal treatment.
The hospitals offer advanced treatments, critical care, diagnostic services, and surgical services to their clients from North and Eastern India. The company seeks to increase access to healthcare in underserved regions and improve its clients health outcomes through state-of-the-art medical technology and qualified healthcare professionals.
This IPO offers investors a chance to participate in the company’s growth. Nevertheless, potential investors need to consider the firm’s financial position, competitors, and the risks involved in the investment.
| Issue Registrar | MUFG Intime India Pvt Ltd. |
| Lead Manager | JM financial Limited, BofA securities India Limited, Nuvama wealth management Limited |
Paras Healthcare IPO Objectives
Funds received from the IPO will be directed towards the following purposes:
| Particulars | Amount (in ₹ Million) |
| Prepayment or repayment of certain outstanding borrowings | 3,209 |
| Investment in our wholly owned subsidiary, PMHPL, for repayment of borrowings | 541 |
| General corporate purposes |
Strengths of Paras Healthcare IPO
There are several strengths that the Paras Healthcare business can leverage in the evaluation process by investors, including hospital network, revenues, profits, and expansion strategies among other factors.
- Hospital Facilities in Underprivileged Regions: As of March 31, 2026, the business had eight hospitals, which had a total capacity of 2,211 beds. The operations of the business span north and eastern India, including Bihar and Jharkhand. These facilities allow the business to target patients who need specialized treatment but do not live in metropolitan regions. The existing network forms the foundation upon which the patient base can be expanded further.
- Revenue Growth: The income earned by the company from operations increased from ₹11,290.39 million in FY2024 to ₹16,059.52 million in FY2026 with an increase of 42.24% within the period of two years. This illustrates the growth of scale and demand for the company’s healthcare services. The growth will continue depending on patient volumes, hospital occupancy rates and the performance of the new hospitals.
- Importance of Specialized Medical Care Facilities: There are six main areas of specialization in medicine, such as cardiac science, oncology, neurosciences, gastroscience, orthopaedics, and renal sciences. Such areas accounted for nearly 74.70% of operating revenue during fiscal year 2026. Such areas will meet the needs of specialized medical care and may require specialized consultations, surgeries, and inpatient care. Paras Healthcare’s focus on advanced medical care facilities may help it establish a strong market position
- Proposal for an Increase in Number of Hospital Beds: Paras Healthcare aims to construct hospitals with 300 beds in Gurugram and 500 beds in Ludhiana. Such initiatives can increase the company’s total number of beds to 3,011 by the end of March 31, 2028. Expansion can be an opportunity to increase the customer base and increase revenue.
Risks of Paras Healthcare IPO
Before buying stocks in Paras Healthcare’s IPO, investors should analyze the company’s debt levels, past profitability, and geographic limitations. These factors may affect the future performance of the firm’s issued stocks.
- Debt Level and High Finance Cost: As at March 31, 2026, Paras Healthcare’s total outstanding borrowings stood at about ₹854.10 crore. The cost of finance has risen from ₹67.06 crore in 2024 to ₹115.98 crore in 2026.
- Geographical Concentration in North and eastern India: Of the company’s hospitals, five accounted for 66.07% of its revenue in FY2026, according to the IPO risk factors. The risks associated with the geographical location include disruptions in the area, competition, and changing patient demand. Establishment of hospitals in new locations could help reduce the risk factor, though at a higher cost.
- Company’s Dependence on Certain Medical Specialties: There were six medical specialties, such as cardiac sciences, oncology, neurosciences, gastroenterology, orthopaedics, and renal sciences, which contributed 74.70% of the revenue of the company in FY2026. Though it is a good approach to provide specialized medical services, it is subject to concentration risks.
Paras Healthcare IPO Review
Paras Healthcare has multispecialty hospitals run under the name Paras Health, which offer specialized services in cardiac sciences, oncology, neurosciences, gastroenterology, orthopedics, and renal care.
The company’s operating income increased from ₹11,290.39 million in FY2024 to ₹16,059.52 million in FY2026, a 42.3% increase over the two-year period. The firm’s hospital network consists of eight hospitals with a total capacity of 2,211 beds as at March 2026.
Paras Healthcare is set to increase its capacity with new hospitals in Gurugram and Ludhiana. The public offering of shares for the company comprises an issue of fresh shares and an offer for sale, and the proceeds from the issue of fresh shares will be used to settle debt and for general corporate purposes.
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Paras Healthcare IPO FAQs
Paras Healthcare has multispecialty hospitals which offer specialized services in cardiac sciences, oncology, neurosciences, gastroenterology, orthopedics, and renal care. The offer starts on 21, October, 2026 and ends on 23, October, 2026.
Investors can apply for the IPO through their stockbroker or through any approved online IPO portal. Investors usually have the option to apply for the IPO through the ASBA route via banks.
Investors are required to evaluate the company themselves by considering the merits and demerits of the company’s financials, borrowings, customers, suppliers, and the purpose for raising funds via the IPO.
There is no guaranteed return from an IPO. Post-listing stock price may vary depending on market conditions, demand, performance, and trading activity. GMP is also unscheduled and can be revised even prior to listing.
Paras Healthcare has set October 21, 2026, as the opening date of its IPO. The closing date of the IPO is October 23, 2026, as per the available IPO schedule.
The number of shares in each lot is 21. The price band is ₹660-₹693, and the listing is on the BSE and NSE.
The allotment date is set for October 26, 2026. The next step will be the refund and allotment of shares in accordance with the final allotment.
The shares will be listed on October 28, 2026. The listing will be done on the BSE and NSE platforms as per the IPO schedule.
