Paras Healthcare IPO Day 2: Subscribed 0.16x; Retail Demand at 0.76x
Key Highlights
Paras Healthcare IPO (₹837 crore mainboard IPO) was subscribed 0.16x on Day 2 of 3, with Retail at 0.76x. See category-wise subscription and day-wise bids.
Last updated: Thu, Oct 22, 2026, 11:00 AM IST · mainboard · & · Day 2 of 3
- Paras Healthcare IPO subscribed 0.16x overall on Day 2, up from 0.15x on Day 1
- Total bids: 19,43,130 shares against 1,20,83,331 shares on offer
- Category-wise: 0.00x, 0.08x, 0.76x
- Price band: ₹660 to ₹693 per share
- The issue closes on Fri, Oct 23, 2026
The Paras Healthcare IPO reached a subscription multiple of 0.16x on day 2 of 3, as of 11:00 AM IST on October 22, 2026. The total subscription level saw a slight increase from the 0.15x recorded on the first day of the issue.
Retail investors emerged as the most active category, with their portion subscribed at 0.76x. This category continues to lead the interest in the mainboard IPO.
Paras Healthcare IPO Status: Day 2
Day-wise subscription
| Day | Date | Total bids (shares) | Bid value at upper band (₹ crore) | Subscribed (x) |
|---|---|---|---|---|
| Day 1 | Wed, Oct 21, 2026 | 17,81,619 | 123.47 | 0.15x |
| Day 2 | Thu, Oct 22, 2026 | 19,43,130 | 134.66 | 0.16x |
Category-wise subscription
| Category | Shares offered | Day 1 bids | Day 1 (x) | Day 2 bids | Day 2 (x) |
|---|---|---|---|---|---|
| QIB | 65,90,908 | 588 | — | 588 | 0.00x |
| NII | 32,95,454 | 2,54,562 | 0.08x | 2,64,789 | 0.08x |
| of which individual NII | — | 2,41,164 | — | 2,51,391 | — |
| of which corporate NII | — | 9,135 | — | 9,135 | — |
| of which other NII | — | 4,263 | — | 4,263 | — |
| Retail | 21,96,969 | 15,26,469 | 0.69x | 16,77,753 | 0.76x |
| Total | 1,20,83,331 | 17,81,619 | 0.15x | 19,43,130 | 0.16x |
The subscription data shows that no category has fully covered its quota as of day 2. Retail investors reached 0.76x, while NIIs, or non-institutional investors bidding above ₹2 lakh, stood at 0.08x. QIBs, or qualified institutional buyers, recorded 0.00x subscription. The total number of bids rose to 19,43,130 shares compared to the 1,20,83,331 shares offered.
Paras Healthcare IPO Offer Details
| Field | Value |
|---|---|
| IPO date | Wed, Oct 21, 2026 to Fri, Oct 23, 2026 |
| Listing date | To be announced |
| Face value | ₹1 per share |
| Price band | ₹660 to ₹693 per share |
| Lot size | 21 shares |
| Total issue size | 1,20,83,331 shares (₹837 crore) |
| Listing at | NSE & BSE |
| Lead managers | JM Financial Ltd., BofA Securities India Ltd., Nuvama Wealth Management Ltd. |
| MUFG Intime India Pvt Ltd. |
About Paras Healthcare
Paras Healthcare Ltd. operates as a clinical specialty-led hospital platform. As per the DRHP, the company provides tertiary and quaternary healthcare services through a network of eight hospitals with an aggregate bed capacity of 2,211 beds as of June 30, 2026. It operates under the Paras Health brand across North India, Bihar, and Jharkhand. The company serves self-pay patients, insurance providers, and government schemes. Its clinical specialties include cardiac sciences, oncology, neuro sciences, gastro sciences, and orthopedics. The firm focuses on providing medical care in Tier 2 and 3 cities while balancing service quality and affordability.
Paras Healthcare Financial Highlights
| Metric | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| from operations (₹ crore) | 1,605.95 | 1,294.06 | 1,129.04 |
| Total income (₹ crore) | 1,628.78 | 1,314.21 | 1,164.41 |
| Profit after tax (₹ crore) | 43.83 | -57.98 | -15.33 |
| Net worth (₹ crore) | 394.94 | 280.49 | 338.51 |
| Total borrowings (₹ crore) | 323.43 | 227.55 | 148.38 |
| (₹) | 4.34 | -5.94 | -1.57 |
Revenue from operations grew from ₹1,294.06 crore in FY 2024-25 to ₹1,605.95 crore in FY 2025-26. Profit after tax reached ₹43.83 crore in FY 2025-26, following a loss of ₹-57.98 crore in FY 2024-25. The company reported a debt-to-equity ratio of 0.82x at the end of FY 2025-26.
Objects of the Issue
| Purpose | Amount (₹ crore) |
|---|---|
| Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by our Com | 320.90 |
| Investment in our wholly owned Subsidiary, PMHPL (which also operates our hospital in Srinagar) | 54.10 |
Risk Factors as per the DRHP
- The company faces operational risks including medical negligence claims and potential damage from natural disasters such as flooding, which could impact its ability to provide services across its eight hospitals.
- The business relies on third-party suppliers for medical equipment and consumables, with the top 10 suppliers accounting for a significant portion of the company’s total supplies and equipment requirements.
- As a participant in a highly regulated healthcare industry, the company is subject to various pricing norms and potential changes in laws that may affect its operational and financial performance.
- The company is involved in outstanding legal proceedings against the entity, its subsidiaries, the promoter, and its directors, which could result in financial liabilities or reputational damage to the firm.
How to Check Paras Healthcare IPO Subscription Status
Live bidding figures are published by NSE & BSE while the issue is open. Once it closes, allotment status is published by the registrar, MUFG Intime India Pvt Ltd. (https://in.mpms.mufg.com/).
This article is for information only and is not investment advice. Subscription figures are based on exchange data as of Thu, Oct 22, 2026, 11:00 AM IST and can change. IPO investments are subject to market risks; read the offer document carefully before investing.