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Paras Healthcare IPO
Price Band
₹660.0–693.0
Issue Size
₹1450.0 Cr
Lot Size
21 shares
Min Investment
₹14,553
GMP
+₹10.0 (1.44%)
Issue Price
₹693.0
Subject to Sauda
₹200
Paid only if allotted
Paras Healthcare IPO AI Summary
- Paras Healthcare IPO is allotted on BSE, NSE in the Hospital sector.
- Price band: ₹660.0–₹693.0 per share, lot size 21 shares (min. investment ₹14,553).
- Subscription window: 21 Oct–23 Oct 2026, listing on 28 Oct 2026.
- Current GMP is +₹10.0 (1.44%), an estimated listing price of ₹703 — unofficial and can change daily.
Paras Healthcare is expanding its operations in the healthcare sector with a significant bed capacity and a robust medical team. The IPO aims to strengthen its financial position and support its growth strategy, though potential investors should carefully consider the associated risks and the company's financial performance.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Paras Healthcare IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 23 Oct 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
2.34x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
3.25x
|
3.25x |
| NII (HNI) |
0.69x
|
0.69x |
| ↳ bNII (>₹10L) |
0.62x
|
0.62x |
| ↳ sNII (<₹10L) |
0.84x
|
0.84x |
| Retail (RII) |
2.10x
|
2.10x |
| Total | 2.34x | 2.34x |
Auto-updated every 5 min · As of 23rd Oct 2026 19:30
Paras Healthcare IPO Grey Market Premium (GMP) Today
GMP
+₹10.0
GMP %
+1.44%
Est. Listing
₹703.0
Updated: 26 Oct 2026 23:30
GMP Trend (Last 10 Days)
TopFund Score — Listing Data Indicator
GMP is 1.4% above issue price
QIB subscribed 3.25x
No anchor allocation for this IPO
Similar IPOs (same sector & type) averaged 3.2% listing gain
A rules-based composite of GMP, subscription demand, anchor participation and comparable-IPO history — each weighted as shown above. Not a statistically validated probability, a guarantee of listing performance, or personalized investment advice.
Limitations: weights are fixed by TopFund, not backtested against outcomes; the "Historical Similar-IPO Performance" factor needs at least 3 comparable past listings and falls back to a broader, less specific cohort when this sector/type doesn't have enough; GMP and subscription data can change daily right up to listing day, so scores shown may already be stale — check the "as of" date above.
About the Company
Incorporated in1987, Paras Health is a healthcare provider operating a network of hospitals across North India, Bihar, and Jharkhand. As of March 31, 2024, Paras Health had an aggregate bed capacity of 2,135 beds, making it the fifth-largest healthcare provider in terms of bed capacity among its peers in these regions. The company operates eight hospitals under the "Paras Health" brand, located in Gurugram and Panchkula (Haryana), Patna and Darbhanga (Bihar), Kanpur (Uttar Pradesh), Udaipur (Rajasthan), Ranchi (Jharkhand), and Srinagar (Jammu and Kashmir, UT). Paras Health expanded its bed capacity from 1,250 beds in March 2022 to 2,135 beds in March 2024. As of March 31, 2024, the company had a medical team comprising 1,091 doctors and 1,509 nurses across its hospitals.
Company Financials (₹ Cr)
As of 2026-06-30
| 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 |
Key Ratios
EPS
₹4.34
NAV
₹39.11
ROE
12.98%
ROCE
10.76%
RoNW
12.98%
P/B Value
17.72
P/E Ratio
159.68
Market Cap
₹7498.34 Cr
PAT Margin
2.69%
Debt/Equity
3.53
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Yatharth Hospital and Trauma Care Services Ltd. | 184.79 | 10.36% | 55.16 | 18.2 | 18.2 |
| Narayana Hrudayalaya Ltd. | 222.02 | 19.74% | 43.41 | 39.67 | 39.67 |
| Max Healthcare Institute Ltd. | 109.53 | 14.33% | 62.1 | 14.83 | 14.76 |
| Manipal Health Enterprises Ltd. | 63.26 | 12.37% | 87 | 7.71 | 7.67 |
| Krishna Institute of Medical Sciences Ltd. | 56.17 | 11.01% | 116.41 | 6.03 | 6.03 |
| Jupiter Lifeline Hospitals Ltd. | 47.1 | 13.41% | 42.92 | 5.92 | 5.92 |
| Global Health Ltd. | 147.06 | 15.15% | 64.46 | 20.71 | 20.66 |
| Fortis Healthcare Ltd. | 131.07 | 11.08% | 55.43 | 13.8 | 13.8 |
| Apollo Hospitals Enterprise Ltd. | 657.58 | 21.95% | 59.36 | 135.04 | 134.94 |
| Aster DM Quality Care Ltd. | 88.32 | 9.7% | 91.89 | 7.53 | 7.52 |
| Paras Healthcare Ltd. This IPO | 39.11 | 12.98% | — | 4.34 | 4.34 |
Promoters
Dharminder Kumar Nagar
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 | 101.11 4 | Issue Expenses | 66.37 | Total | 542.47
IPO Evaluation
Generated 24 Oct 2026Revenue Trend
Total income was ₹1,151.02 Cr for the period ending 31 Mar 2024, increasing from ₹1,314.21 Cr for the period ending 31 Mar 2025, and further down to ₹1,628.78 Cr for the period ending 31 Mar 2026. However, the most recent figure of ₹478.75 Cr for the period ending 30 Jun 2026 is not directly comparable as it represents only a 9-month period.
Profit Trend
Profit after tax was negative at ₹-15.33 Cr for the period ending 31 Mar 2024, improving to ₹-57.98 Cr for the period ending 31 Mar 2025. The profit turned positive with ₹43.83 Cr for the period ending 31 Mar 2026, and further increased to ₹49.68 Cr for the period ending 30 Jun 2026, though this is also a 9-month figure and not a full year.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an indicator of the demand for an IPO before it officially lists on the stock exchange. A positive GMP suggests that the IPO is expected to list at a premium to its issue price, while a negative GMP indicates the opposite. Investors often look at GMP to gauge market sentiment.
Subscription Demand
As of 23rd Oct 2026, the IPO was subscribed 2.34 times overall. The QIB category saw a strong demand with a subscription of 3.25 times, while the Retail category was subscribed 2.1 times. However, the NII category was under-subscribed at 0.69 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth prospects and market conditions. It's essential to consider the financial health and operational performance of the company before making a decision.
Who May Want to Wait
Investors who are risk-averse or those looking for stable, established companies may want to avoid this IPO, especially given its recent financial performance and the inherent risks associated with investing in new listings.
IPO Timeline, Explained
The IPO opens for subscription on 21st October 2026 and closes on 23rd October 2026. Allotment of shares will be done by 26th October 2026, and the listing on the stock exchange is expected on 28th October 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when selling shares on the first day of trading. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-IPO. Investors should be aware of the risks involved in trading on listing day.
This evaluation is generated from Paras Healthcare's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Paras Healthcare IPO GMP today?
Paras Healthcare IPO GMP today is +₹10.0 (1.44%), indicating an estimated listing price of ₹703. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Paras Healthcare IPO?
The price band of Paras Healthcare IPO is ₹660.0–₹693.0 per share.
When does Paras Healthcare IPO open and close?
Paras Healthcare IPO opens on 21 October 2026 and closes on 23 October 2026.
When does Paras Healthcare IPO list on the stock exchange?
Paras Healthcare IPO is scheduled to list on 28 October 2026, with an estimated listing price of ₹703.0 based on current GMP.
What is the lot size for Paras Healthcare IPO?
The lot size for Paras Healthcare IPO is 21 shares, requiring a minimum investment of ₹14,553.
What is the TopFund Listing Data Indicator for Paras Healthcare?
Paras Healthcare's Listing Data Indicator score is 42/100 (Moderate signal), a weighted composite of GMP strength, subscription demand, anchor investor interest and how similar past IPOs performed on listing. It's a rules-based summary of public market data, not a statistically validated probability, a guarantee, or personalized investment advice.
What is the price band for the Paras Healthcare IPO?
The price band for the Paras Healthcare IPO is ₹660.0 to ₹693.0.
What is the minimum investment required for this IPO?
The minimum investment required for the Paras Healthcare IPO is ₹14,553.0.
What is the lot size for the Paras Healthcare IPO?
The lot size for the Paras Healthcare IPO is 21 shares.
When is the listing date for the Paras Healthcare IPO?
The listing date for the Paras Healthcare IPO is 28th October 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium of the IPO shares over the issue price in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
21 Oct 2026
Close
23 Oct 2026
Allotment
26 Oct 2026
Listing
28 Oct 2026
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