Paras Healthcare IPO: Price, GMP, Allotment, & Review

Paras Healthcare IPO- Complete Overview 

Paras Healthcare IPO is a Mainboard IPO with an issue size of 1,450 Cr Shares by Paras Healthcare Limited, which 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.

This new IPO is to be launched on 21 October 2026, and its ‘initial public offering’ will end on 23 October 2026.

Paras Healthcare IPO Details

This Mainline IPO comprises a combination of a fresh issue of 72.15 lakh shares (Rs. 500 Cr) and an offer for sale of 1.37 crore shares (Rs. 950 Cr). The Paras Healthcare IPO listing date (expected) might be 28 Oct, 2026, and the listing on the BSE and NSE. 

The Paras Healthcare IPO price band is Rs. 660 to Rs. 693.

IPO Timetable (Tentative)

The Paras Healthcare IPO date is from Oct 21 to Oct 23, with IPO allotment on Oct 26, refund initiation on Oct 27, 

If you want to apply for the IPO, click to open a Demat Account.

Industry Overview & Outlook

The healthcare delivery market is expected to grow at a CAGR of 10 to 12% between fiscal years 2025 and 2030 to Rs. 11.2 to 12.2 trillion. The CAGR for OPD is expected to be 8 to 10%, and for IPD at 10.5 to 12.5%.

Paras Healthcare Company Financial Performance

Paras Healthcare- Profit & Loss

(Amount in Cr)

Paras Healthcare- Balance Sheet

(Amount in Cr)

Cash Flows

The cash flows for various activities are shown below:

(Amount in Mn)

Paras Healthcare IPO- Business Model 

The company mainly earns money from high-acuity IPD treatments (especially CONGOR specialties), supported by OPD and pharmacy sales. Improving occupancy is generating operating leverage, which is also helping margins expand.

Cardiac Sciences, Oncology, Neuro Sciences, Gastro Sciences, Orthopedics & Sports Injury, and Renal Sciences - these 6 specialties together contribute ~72–75% of revenue. The company focuses on high-acuity (complex) treatments, which helps maintain a better Average Revenue Per Occupied Bed (ARPOB).

Payor Mix (Fiscal 2026):

• Self Pay (cash patients): ~33.9%

• Insurance / TPAs: ~24.8%

• Government Schemes + PSUs: ~41.3%

The share of government schemes and PSUs has increased. This boosts volume but results in longer collection cycles.

Bed Occupancy Rate

Revenue Bifurcation

(Values in million)

(Source :RHP)

Company Growth Trajectory

The Objective of the Issue

• Prepayment or scheduled repayment, in full or part, of certain outstanding borrowings availed by the Company. ~ Rs. 320.90 Cr.

• Investment in our wholly owned Subsidiary, PMHPL (which also operates a hospital in Srinagar), for repayment/prepayment of borrowings, in full or part, of PMHPL. ~ Rs. 54.10 Cr.

• General Corporate Purposes.
  
  

Peers of Paras Healthcare

Evaluation of P/E Ratio

Considering the period ended on FY 2026 with an EPS of Rs. 4.34 from the last year, the resulting P/E ratio is 159.67x.

Paras Healthcare IPO Valuation

IPO's 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.
  
  

IPO's Weaknesses

• The company incurred consolidated losses of ₹(10.24) million, ₹(579.83) million and ₹(153.31) million in the three months ended June 30, 2025 and Fiscal 2025 and 2024, respectively, and there is no assurance that profitability achieved in Fiscal 2026 will continue.

• Subsidiaries PHRPL and PMHPL together incurred losses of ₹(203.82) million, ₹(520.89) million, ₹(822.38) million and ₹(872.69) million in the three months ended June 30, 2025 and Fiscals 2026, 2025 and 2024, as their hospitals continue to scale up operations.

• The company experienced attrition rates of 12.01%, 16.09%, 60.38%, 66.74% and 65.27% among doctors, nurses and other staff in the relevant periods, and failure to manage attrition could adversely affect service quality and operations.

Paras Healthcare IPO GMP Today

Paras Healthcare IPO GMP is Rs. 111 as of October 15, 2026, when this information was written. 

Paras IPO Other Details

IPO Grey Market Premium

The current IPO GMP is available at our live IPO GMP page, where you can get the GMP today for open Mainboard and SME IPOs.

Paras Healthcare IPO Lot Size

The Jio IPO allows retail investors to invest in a minimum and maximum of 1 Lot (21 Shares) amounting to Rs. 14553 and 13 Lots (273 Shares) for Rs. 189189 respectively, while for HNI investors, the minimum is 14 Lots (294 Shares) amounting to Rs. 203742.

Paras Healthcare IPO Reservation

Promoters and Management of Paras Healthcare Ltd. 

• Dharminder Kumar Nagar.

Paras Healthcare IPO Lead Managers

JM Financial Ltd. 

Dividend Policy

The company has not paid a dividend during the last three FYs.

Paras Healthcare IPO Review: Subscribe or Avoid?

Paras Healthcare Limited is launching a Mainboard IPO of ₹1,450 crore, consisting of a fresh issue of ₹500 crore and an offer for sale of ₹950 crore. The issue is open from 21 to 23 October 2026 at a price band of ₹660–₹693, with a lot size of 21 shares, and is expected to list on BSE and NSE around 28 October 2026.

In Fiscal 2026, it reported revenue of ₹1,606 crore, EBITDA of ₹336 crore (20.6% margin), and turned profitable after losses in earlier years, with bed occupancy improving to 61.75%. The funds will primarily be used for debt repayment and general corporate purposes.

Risks include dependence on licence and spectrum renewals (unified licence due for renewal in 2033), network outage risks, and the need for continuous capital investment to keep pace with technological changes.

Before making any decision to subscribe or avoid, you should consult your SEBI-registered financial advisor. 

Paras Healthcare IPO News

Paras Healthcare DRHP

Paras Healthcare RHP

Paras Healthcare IPO Allotment Status

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Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.

You must consult your financial advisor before making any financial decisions.

To Apply for the IPO, Click Here.

To read the Prospectus of the company, click here to download the DRHP & RHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.