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IPO Open

Wed, Oct 21, 2026

IPO Close

Fri, Oct 23, 2026

Price Band

₹660 to ₹693

Market Cap*

₹7,498.34 Cr * on Upper Price

IPO Details

  • IPO Date
    21 to 23 Oct, 2026
  • Listing Date
    Wed, Oct 28, 2026
  • 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
  • Allotment
    Mon, Oct 26, 2026
  • Credit of Shares
    Tue, Oct 27, 2026
  • IPO Close
    Fri, Oct 23, 2026
  • Refund
    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

Investors can bid for a minimum of 21 shares and in multiples thereof.

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 1428 ₹9,89,604
B-HNI (Min) 69 1449 ₹10,04,157

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)

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.   (Amount in ₹ Crore)

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

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% ₹209.17
Manipal Health Enterprises Ltd. Mainboard ₹9,275.22 Cr ₹590 75.93 ₹666.95 +13.04% ₹650.05
Gujarat Kidney & Super Speciality Ltd. Mainboard ₹250.80 Cr ₹114 61.62 ₹104.54 -8.30% ₹194.69

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • 1 Prepayment or scheduled re-payment, in full or part, of certain outstanding borrowings availed by Company
  • 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

Key Performance Indicator (KPI)

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

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
  • 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

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 0 0 0 0
Members 0 0 0 0

IPO Registrar

MUFG Intime India Pvt.Ltd.

  • 022-49186000
  • parashealthcare.ipo@in.mpms.mufg.com
  • Visit Website

IPO Lead Manager(s)

  1. JM Financial Ltd.
  2. BOFA Securities India Ltd.
  3. Nuvama Wealth Management Ltd.

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

Paras Healthcare Ltd. Address
1 st Floor, Tower B,
Paras Twin Towers,
Golf Course Road, Sector 54,
Gurugram, Haryana, 122002

IPO FAQs

Paras Healthcare IPO is a main-board IPO of 2,09,23,520 equity shares of the face value of ₹1 aggregating up to ₹1,450 Crores. The issue is priced at ₹660 to ₹693. The minimum order quantity is 21.

The IPO opens on Wed, Oct 21, 2026, and closes on Fri, Oct 23, 2026.

MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Angel One customers can apply online in Paras Healthcare IPO using UPI as a payment gateway. Angel One customers can apply in Paras Healthcare IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Paras Healthcare IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Paras Healthcare IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

The Paras Healthcare IPO opens on Wed, Oct 21, 2026 and closes on Fri, Oct 23, 2026.

Paras Healthcare IPO lot size is 21, and the minimum amount required for application is ₹14,553.

You can apply in Paras Healthcare IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for Paras Healthcare IPO will be done on Monday, October 26, 2026, and the allotted shares will be credited to your demat account by Tue, Oct 27, 2026. Check the Paras Healthcare IPO allotment status.

The Paras Healthcare IPO listing date is not yet announced. The tentative date of listing is Wed, Oct 28, 2026.

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