Paras Healthcare IPO
Updated 20 Oct 2026, 6:50 pm.
Minimum investment (Retail)
₹14,553
1 lot · 21 shares at the upper price band
Price band
₹660–693
Latest GMP
₹69
+10.0% of the ₹693 upper band
Est. listing price
₹788
Issue size
₹950 Cr
As NSE lists it
The exchange's own issue data, NSE symbol PARASHLTH · read 21 Oct 2026, 12:15 am
- Price band
- ₹660–693
- Bidding
- 21 Oct 2026 – 23 Oct 2026
- Subscribed (NSE)
- 0.00x
- Shares offered
- 1,20,83,331
- Shares bid
- 0
NSE's subscription counts bids on its own platform and can differ from the combined NSE + BSE figure above.
Allotment status
Allotment is due on 26 Oct 2026. Check it on the registrar's page or either exchange with your PAN or application number.
- Allotment finalised26 Oct 2026(upcoming)
- Refunds start27 Oct 2026(upcoming)
- Shares credited to demat27 Oct 2026(upcoming)
- Listing28 Oct 2026(upcoming)
GMP history
Each point is a recorded observation from the scheduled data sync.
| Observed | GMP | Est. listing price |
|---|---|---|
| 20 Oct 2026, 6:50 pm | ₹69 | ₹788 |
| 20 Oct 2026, 6:45 pm | ₹95 | ₹788 |
| 20 Oct 2026, 1:50 pm | ₹86 | ₹788 |
| 20 Oct 2026, 1:45 pm | ₹95 | ₹788 |
| 20 Oct 2026, 8:50 am | ₹87 | ₹788 |
| 20 Oct 2026, 8:45 am | ₹95 | ₹788 |
| 19 Oct 2026, 6:50 pm | ₹90 | ₹788 |
| 19 Oct 2026, 6:45 pm | ₹95 | ₹788 |
| 19 Oct 2026, 1:50 pm | ₹90 | ₹788 |
| 19 Oct 2026, 1:45 pm | ₹95 | ₹788 |
| 19 Oct 2026, 8:50 am | ₹94 | ₹788 |
| 19 Oct 2026, 8:45 am | ₹95 | ₹788 |
| 19 Oct 2026, 1:32 am | ₹95 | ₹788 |
| 17 Oct 2026, 6:50 pm | ₹96 | ₹788 |
| 17 Oct 2026, 6:45 pm | ₹95 | ₹788 |
| 17 Oct 2026, 1:50 pm | ₹95 | ₹788 |
| 17 Oct 2026, 1:45 pm | ₹95 | ₹788 |
| 17 Oct 2026, 8:50 am | ₹95 | ₹788 |
| 17 Oct 2026, 8:45 am | ₹95 | ₹788 |
| 16 Oct 2026, 6:50 pm | ₹94 | ₹783 |
| 16 Oct 2026, 6:45 pm | ₹90 | ₹783 |
| 16 Oct 2026, 1:50 pm | ₹92 | ₹783 |
| 16 Oct 2026, 1:45 pm | ₹90 | ₹783 |
| 16 Oct 2026, 8:50 am | ₹98 | ₹793 |
| 16 Oct 2026, 8:45 am | ₹100 | ₹793 |
| 15 Oct 2026, 6:50 pm | ₹115 | ₹808 |
| 15 Oct 2026, 6:45 pm | ₹115 | ₹808 |
| 15 Oct 2026, 1:50 pm | ₹98 | ₹778 |
| 15 Oct 2026, 1:45 pm | ₹85 | ₹778 |
| 15 Oct 2026, 8:50 am | ₹84 | ₹778 |
| 15 Oct 2026, 8:45 am | ₹85 | ₹778 |
| 15 Oct 2026, 12:27 am | ₹79 | — |
| 15 Oct 2026, 12:22 am | ₹79 | — |
| 14 Oct 2026, 6:50 pm | ₹0 | — |
| 14 Oct 2026, 6:45 pm | ₹0 | — |
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- Mainboard
- Price band
- ₹660–693
- Issue size
- ₹950 Cr
- Lot size
- 21
- Opens
- 21 Oct 2026
- Closes
- 23 Oct 2026
- Allotment
- 26 Oct 2026
- Listing
- 28 Oct 2026
- Est. listing price
- ₹788
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- MUFG Intime India Pvt.Ltd.
- Minimum investment
- ₹14,553 (1 lot · 21 shares)
- Face value
- ₹1 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital cum OFS
- Fresh issue
- ₹500 Cr
- Offer for sale
- ₹950 Cr
- Listing at
- BSE, NSE
- Refunds
- 27 Oct 2026
- Shares credited
- 27 Oct 2026
- Promoter holding
- 72.8% before · — after
- Lead managers
- JM Financial Ltd., BOFA Securities India Ltd., Nuvama Wealth Management Ltd.
Offer documents & links
Full issue details
Details as published for this issue, read 20 Oct 2026, 9:05 am. Verify against the RHP before applying.
IPO Details
| IPO Date | 21 to 23 Oct, 2026 |
|---|---|
| Listing Date | Wed, Oct 28, 2026 (tentative) |
| Face Value | ₹ 1 per share |
| Price Band | ₹660 to ₹693 |
| Lot Size | 21 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,09,23,520 shares (agg. up to ₹ 1,450 Cr) |
|---|---|
| Fresh Issue | 72,15,007 shares (agg. up to ₹ 500 Cr) |
| Offer for Sale | 1,37,08,513 shares of ₹ 1 (agg. up to ₹ 950 Cr) |
| Share Holding Pre Issue | 10,09,86,187 shares |
| Share Holding Post Issue | 10,82,01,194 shares |
IPO Timetable (Tentative)
- IPO Open
- Wed, Oct 21, 2026
- IPO Close
- Fri, Oct 23, 2026
- Allotment
- Mon, Oct 26, 2026
- Refund
- Tue, Oct 27, 2026
- Credit of Shares
- Tue, Oct 27, 2026
- Listing
- Wed, Oct 28, 2026
Issue Reservation
| Investor Category | Shares |
|---|---|
| QIB | Not more than 75% of the Net Offer |
| Retail | Not less than 10% of the Offer |
| NII | Not less than 15% of the Offer |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 21 | ₹14,553 |
| Retail (Max) | 13 | 273 | ₹1,89,189 |
| S-HNI (Min) | 14 | 294 | ₹2,03,742 |
| S-HNI (Max) | 68 | 1,428 | ₹9,89,604 |
| B-HNI (Min) | 69 | 1,449 | ₹10,04,157 |
Investors can bid for a minimum of 21 shares and in multiples thereof.
About Paras Healthcare Ltd.
Incorporated in1987, Paras Healthcare Limited is a leading clinical specialty-led hospital platform providing tertiary and quaternary healthcare services across North India, Bihar, and Jharkhand under the "Paras Health" brand. The company operates eight hospitals with an aggregate bed capacity of 2,211 beds across Gurugram, Panchkula, Patna, Darbhanga, Kanpur, Udaipur, Ranchi, and Srinagar as of June 30, 2026.
It specializes in cardiac sciences, oncology, neurosciences, gastro sciences, orthopedics & sports injury, and renal sciences (CONGOR specialties), which contributed 75.30% of revenue in Fiscal 2026.
Paras Healthcare has over 20 years of operating history and follows a balanced growth strategy through mature, emerging, and new hospitals. The company plans to expand its network with a 300-bed hospital in Gurugram and a 500-bed hospital in Ludhiana, increasing total capacity to 3,011 beds by March 2028.
As of March 31, 2026, it had 4,670 employees, including 1,084 doctors and 1,937 nurses.
Strengths
Leading healthcare provider in North India, Bihar, and Jharkhand.
Network of 8 hospitals with 2,211-bed capacity.
Strong Paras Health brand with over 20 years of experience.
Focus on high-acuity CONGOR specialties.
Balanced portfolio of mature, emerging, and new hospitals.
Strong occupancy growth and operational efficiency.
Experienced workforce of 1,011 doctors and 1,665 nurses.
Expansion pipeline to reach 3,011 beds by FY28.
Advanced clinical infrastructure and standardized care protocols.
Company Financials (Restated Consolidated)
Total Income
Profit After Tax
EBITDA
NET Worth
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| 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 Borrowing | 1,429.49 | 1,393.86 | 1,232.12 | 923.92 |
| Amount in ₹ Crore |
Paras Healthcare Ltd.'s revenue increased by 24% and profit after tax (PAT) rose by 176% between the financial year ending with March 31, 2026 and March 31, 2025.
Recently Listed IPOs in Hospital
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Rays of Belief Ltd. | Mainboard | ₹125.00 Cr | ₹239 | 75.63 | ₹228.34 | -4.46% | ₹284.41 |
| Manipal Health Enterprises Ltd. | Mainboard | ₹9,275.22 Cr | ₹590 | 75.93 | ₹666.95 | +13.04% | ₹630.05 |
| Gujarat Kidney & Super Speciality Ltd. | Mainboard | ₹250.80 Cr | ₹114 | 61.62 | ₹104.54 | -8.30% | ₹187.76 |
| Park Medi World Ltd. | Mainboard | ₹920.00 Cr | ₹162 | 29.21 | ₹147.95 | -8.67% | ₹227.85 |
| ABH Healthcare Ltd. | SME | ₹34.98 Cr | ₹102 | 14.47 | ₹94.05 | -7.79% | ₹42.70 |
| Hannah Joseph Hospital Ltd. | SME | ₹42.00 Cr | ₹70 | 16.21 | ₹68.25 | -2.50% | ₹101.05 |
IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Prepayment or scheduled re-payment, in full or part, of certain outstanding borrowings availed by Company | 320.90 |
| 2 | Investment in our wholly owned Subsidiary, PMHPL (which also operates hospital in Srinagar), for repayment/prepayment of borrowings, in full or part, of PMHPL | 54.10 |
| 3 | General Corporate Purposes | — |
| Total | 375.00 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
ROE
ROCE
RoNW
PAT Margin
EBITDA Margin
| KPI | Jun 30, 2026 | Mar 31, 2026 |
|---|---|---|
| ROE | 11.83% | 12.98% |
| ROCE | 4.23% | 10.76% |
| Debt/Equity | 3.21 | 3.53 |
| RoNW | 11.83% | 12.98% |
| PAT Margin | 10.38% | 2.69% |
| EBITDA Margin | 23.70% | 20.60% |
| NAV | 44.06 | 39.11 |
| P/B (x) | 15.73 | 17.72 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 4.34 | 18.37 |
| P/E (x) | 159.68 | 37.72 |
| Market Cap at Offer Price | ₹6,998.34 Cr. | ₹7,498.34 Cr. |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2026 available in RHP.
Shareholding Structure
Pre IPO
- Promoter and Promoter Group72.8%
- Public27.20%
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 72.8% | — |
| Public | 27.20% | — |
| Total | 100% | — |
Company Promoter: Dharminder Kumar Nagar
Offer For Sale - Selling Shareholders
| Name | Category | Estimated Amount (₹ cr.) |
|---|---|---|
| Dharminder Kumar Nagar | Promoter | 300.00 |
| Commelina Ltd. | Corporate | 650.00 |
| Total | — | 950.00 |
*Estimated Amount (₹ cr.) shown until the actual number of shares offered in OFS is entered.
Paras Healthcare IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 4 | 0 | 2 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Registrar
MUFG Intime India Pvt.Ltd.
022-49186000
parashealthcare.ipo@in.mpms.mufg.com
IPO Lead Manager(s)
JM Financial Ltd.
BOFA Securities India Ltd.
Nuvama Wealth Management Ltd.
Contact Details
Paras Healthcare Ltd. Address
1 st Floor, Tower B,
Paras Twin Towers,
Golf Course Road, Sector 54,
Gurugram, Haryana , 122002
+91 124 430 2163
cs@parashospitals.com
Paras Healthcare IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Paras Healthcare mobilises Rs 652.5 crore via anchor book, Rs 1,450-crore IPO to open on October 21
Moneycontrol.com · 20 Oct 2026
All You Need to Know About Paras Healthcare IPO
HDFC Sky · 19 Oct 2026
Jio Platforms, Paras Healthcare IPOs lead market activity this week
NewsBytes · 19 Oct 2026
Upcoming IPOs this Week: Paras Healthcare, Jio Platforms, and More
Analytics Insight · 19 Oct 2026
Jio Platforms, Paras Healthcare IPOs To Open This Week; Nine Listings Scheduled
TradingView · 19 Oct 2026
Paras Healthcare IPO 2026: Price Band, Review, Risks
Univest · 19 Oct 2026
Paras Healthcare sets October 21 launch for INR 1,450 crore IPO at INR 660-693 per share
Prop News Time · 19 Oct 2026
Jio Platforms IPO, Paras Healthcare Issue To Keep Primary Market Busy In Holiday-Shortened Week
News18 · 19 Oct 2026
Paras Healthcare: common questions
Answered from this issue's own record.
