Paras Healthcare Limited IPO – Complete Details

Paras Healthcare Limited (“Paras Health”) is coming up with its Mainboard Book-Building Initial Public Offering (IPO). Below is the complete and structured breakdown of the IPO details for your website:

Key IPO Highlights

• Total Issue Size: ₹1,450.00 Crore (2,09,23,520 Shares)

• Fresh Issue: ₹500.00 Crore (72,15,007 Shares)

• Offer for Sale (OFS): ₹950.00 Crore (1,37,08,513 Shares)

• Price Band: ₹660 to ₹693 per share

• Face Value: ₹1 per share

• Lot Size: 21 Shares

• Listing At: BSE & NSE

• Market Capitalization (at upper price): ₹7,498.34 Crore

2. Important IPO Dates (Tentative Timetable)

• IPO Opening Date: Wednesday, October 21, 2026

• IPO Closing Date: Friday, October 23, 2026

• Basis of Allotment Finalization: Monday, October 26, 2026

• Initiation of Refunds & Share Credit: Tuesday, October 27, 2026

• Tentative Listing Date: Wednesday, October 28, 2026

3. Investor Bidding & Lot Size Details

4. Issue Reservation Structure

• Qualified Institutional Buyers (QIB): Not more than 75% of the Net Offer

• Non-Institutional Investors (NII / HNI): Not less than 15% of the Net Offer

• Retail Individual Investors (RII): Not less than 10% of the Net Offer

5. Company Overview & Core Strengths

Incorporated in 1987, Paras Healthcare Limited is a leading clinical specialty-led hospital platform operating tertiary and quaternary healthcare services in North India, Bihar, and Jharkhand under the “Paras Health” brand.

• Hospital Infrastructure: As of June 30, 2026, the company operates 8 hospitals with an aggregate bed capacity of 2,211 beds across Gurugram, Panchkula, Patna, Darbhanga, Kanpur, Udaipur, Ranchi, and Srinagar.

• Specialized Healthcare (CONGOR): Specializes in Cardiac Sciences, Oncology, Neurosciences, Gastro Sciences, Orthopedics & Sports Injury, and Renal Sciences, which contributed 75.30% of total revenue in FY 2026.

• Expansion Pipeline: Plans to add a 300-bed hospital in Gurugram and a 500-bed hospital in Ludhiana to expand capacity to 3,011 beds by March 2028.

• Workforce Strength: Employs over 4,670 personnel, including 1,084 doctors and 1,937 nurses as of March 31, 2026.

6. Financial Performance (Restated Consolidated)

(All Figures in ₹ Crore)

Key Financial Growth: Between FY 2025 and FY 2026, total income grew by 24%, while Profit After Tax (PAT) turned positive, surging by 176%.

7. Key Performance Indicators (KPIs) & Valuation

• Return on Equity (ROE): 11.83% (June 30, 2026) / 12.98% (FY 2026)

• Return on Capital Employed (ROCE): 4.23% (June 30, 2026) / 10.76% (FY 2026)

• Debt to Equity Ratio: 3.21

• PAT Margin: 10.38% (Q1 FY27) / 2.69% (FY 2026)

• EBITDA Margin: 23.70% (Q1 FY27) / 20.60% (FY 2026)

• Net Asset Value (NAV): ₹44.06 per share

• Post-IPO P/E Ratio: 37.72x

• Price to Book (P/B) Ratio: 15.73x

8. Objects of the Issue

Net proceeds from the Fresh Issue amounting to ₹375.00 Crore will be utilized for:

1. Prepayment or repayment of outstanding borrowings of the company: ₹320.90 Crore

2. Investment in subsidiary (PMHPL) for debt repayment of the Srinagar hospital: ₹54.10 Crore

3. General Corporate Purposes

9. Shareholding & Promoter Information

• Promoter Name: Dr. Dharminder Kumar Nagar

• Pre-IPO Promoter Shareholding: 72.80%

• Pre-IPO Public Shareholding: 27.20%

• Offer for Sale Breakdown:

  • Dr. Dharminder Kumar Nagar (Promoter): ₹300.00 Crore

  • Commelina Ltd. (Corporate): ₹650.00 Crore

10. Grey Market Premium (GMP) & Expected Listing Gains

• Latest Recorded GMP: ₹115 per share (as of Oct 15, 2026)

• Estimated Listing Price: ₹808 (Upper Price Band ₹693 + GMP ₹115)

• Expected Listing Gain: 16.59%

• Estimated Profit per Lot: ₹2,415 (₹115 × 21 shares)

• Retail Subject to Sauda Rate: ₹1,800

• Small HNI Subject to Sauda Rate: ₹25,200

11. Registrar & Book Running Lead Managers

• Registrar of the Issue:

  MUFG Intime India Pvt. Ltd.

  Phone: 022-49186000

  Email: parashealthcare.ipo@in.mpms.mufg.com

• Book Running Lead Managers (BRLMs):

  1. JM Financial Limited

  2. BofA Securities India Limited

  3. Nuvama Wealth Management Limited