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IPO ·
NSE, BSE
Paras Healthcare Ltd
Listed
Runs a chain of eight multi-specialty hospitals (about 2,200 beds) across North India, Bihar and Jharkhand.
Issue details
Price band
₹660 – ₹693
Face value
₹1
Lot size
21 shares
Minimum investment
₹14,553
Issue size
₹1,450 Cr
Fresh issue
₹500 Cr
Offer for sale
₹950 Cr
Issue type
Book Built
Exchange
NSE, BSE
Key dates
Opens
21 Oct 2026
Closes
23 Oct 2026
UPI mandate cut-off
5:00 PM on 23 Oct 2026
Allotment
26 Oct 2026
Refunds
27 Oct 2026
Shares in demat
27 Oct 2026
Listing
28 Oct 2026
Subscription and listing
Subscription
2.34x
Listing price
₹720
Registrar
MUFG Intime India Pvt Ltd
Lead manager
JM Financial, BofA Securities India, Nuvama Wealth Management
Subscription by category
QIB (Ex Anchor)
3.25x
NII
0.69x
bNII (> ₹10L)
0.62x
sNII (< ₹10L)
0.84x
Retail
2.10x
Total
2.34x
Total applications
1,46,612
Anchor investors
Amount raised
₹652.50 Cr
Bid date
19 Oct 2026
50% lock-in ends
24 Nov 2026
Rest lock-in ends
23 Jan 2027
Listing day
Issue price
₹693
Open
₹720.00
High
₹748.85
Low
₹706.00
Day close
₹735.60
Listing gain at open
+3.90%
Issue structure
Shares reserved per category and share of the total issue
QIB
1,56,92,640
75.00%
Anchor Investor
94,15,584
45.00%
QIB (Ex. Anchor)
62,77,056
30.00%
NII
31,38,528
15.00%
bNII > ₹10L
20,92,352
10.00%
sNII < ₹10L
10,46,176
5.00%
Retail
20,92,352
10.00%
Total
2,09,23,520
100.00%
Finaccle’s quick read
Avoid
Net losses in FY24 and FY25 before a ₹43.83 Cr profit in FY26, debt/equity of 3.53, and ₹950 Cr of the ₹1,450 Cr issue is OFS.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Paras Healthcare runs the Paras Health chain of multi-specialty hospitals in North India, Bihar and Jharkhand. It has 8 hospitals with 2,211 beds in cities such as Gurugram, Patna, Panchkula, Kanpur and Ranchi, focused on cardiac, cancer, neuro, gastro, ortho and renal care. It plans to add hospitals in Gurugram and Ludhiana to reach 3,011 beds by March 2028.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
12.98%
ROCE
10.76%
Debt / equity
3.53
PAT margin
2.69%
P/E post issue
37.72
Market cap
₹7,498.34 Cr
Use of IPO money
Prepayment/repayment of borrowings
₹320.90 Cr
Investment in subsidiary PMHPL
₹54.10 Cr
General corporate purposes
₹101.11 Cr
Issue expenses
₹66.37 Cr
Strengths
✓
Established regional hospital brand with 2,211 beds
✓
Focus on high-value specialties driving three-quarters of revenue
✓
Income up about 24% in FY26 with improving EBITDA
✓
Clear bed-addition pipeline to 3,011 beds by FY28
Risks to watch
!
Debt/equity of 3.53 with borrowings near ₹1,394 Cr
!
Losses in FY24 and FY25; only turned profitable in FY26
!
Thin FY26 PAT margin of 2.69%
!
OFS of ₹950 Cr is about two-thirds of the ₹1,450 Cr issue
!
Pre-IPO P/E of about 160x
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.