The initial public offering (IPO) of Paras Healthcare Limited opened for public subscription on October 21, 2026, launching a three-day bidding window for prospective investors. The public issue, valued at Rs 1,450 crore, will remain open until October 23. Market sentiment appears active, with the stock currently commanding a grey market premium (GMP) of approximately 7%, or Rs 50 per share, over the upper price band of Rs 693.
The company has set its IPO price band between Rs 660 and Rs 693 per share. Investors are required to bid in lots of 21 shares, setting the minimum application amount for retail investors at Rs 14,553 at the upper end of the price band. The offering consists of a fresh issue of shares worth Rs 500 crore and an offer for sale (OFS) of shares aggregating to Rs 950 crore. Ahead of the public launch, the hospital chain secured Rs 652.5 crore from anchor investors, including institutional heavyweights such as BlackRock Global Funds and the Abu Dhabi Investment Authority.
Paras Healthcare intends to deploy a significant portion of the net proceeds toward debt reduction. Specifically, Rs 320.90 crore is earmarked for the partial or full repayment of the company’s outstanding borrowings, while an additional Rs 54.10 crore will be invested in its wholly owned subsidiary, PMHPL, to manage its debt obligations regarding a hospital facility in Srinagar. The remaining funds are intended for general corporate purposes, aiming to strengthen the firm’s overall financial position.
Founded in 1987, the healthcare provider currently operates eight hospitals across North India, Bihar, and Jharkhand, with an aggregate capacity of 2,211 beds. The platform focuses on tertiary and quaternary services, with a specialization in cardiac sciences, oncology, neurosciences, gastro sciences, and orthopedics. These core specialties accounted for over 75% of the company's revenue in fiscal year 2026. The firm has also outlined future growth plans, including the addition of 800 beds through new facilities in Gurugram and Ludhiana by March 2028.
The company’s financial performance has shown a marked improvement in the most recent fiscal year. Paras Healthcare reported a total income of Rs 1,629 crore in FY26, a 24% increase compared to the Rs 1,314 crore recorded in FY25. Notably, the firm transitioned to profitability, posting a profit after tax (PAT) of Rs 44 crore for the year, recovering from a loss of Rs 58 crore in the preceding fiscal period.
The book-running lead managers overseeing the issue include JM Financial Ltd., BofA Securities India Ltd., and Nuvama Wealth Management Ltd., with MUFG Intime India Pvt. Ltd. serving as the registrar. Following the closure of the bidding window, the basis of allotment is expected to be finalised on October 26. Successful applicants can anticipate the shares to list on the BSE and the National Stock Exchange (NSE) on October 28, 2026.
As with all market investments, stakeholders are encouraged to conduct their own assessment. The details regarding the IPO objectives and financials are derived from company filings, while the grey market premiums are indicative of current market interest and are subject to change prior to the official listing.
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