Paras Healthcare IPO Day 3: Subscribed 0.38x; Retail Demand at 1.43x
Key Highlights
Paras Healthcare IPO (₹837 crore mainboard IPO) was subscribed 0.38x on Day 3 of 3, with Retail at 1.43x. See category-wise subscription and day-wise bids.
Last updated: Fri, Oct 23, 2026, 11:00 AM IST · mainboard · & · Day 3 of 3
- Paras Healthcare IPO subscribed 0.38x overall on Day 3, up from 0.34x on Day 2
- Total bids: 45,42,510 shares against 1,20,83,331 shares on offer
- Category-wise: 0.07x, 0.29x, 1.43x
- Price band: ₹660 to ₹693 per share
- The issue closes on Fri, Oct 23, 2026
The Paras Healthcare IPO concludes its third and final day of bidding with an overall subscription multiple of 0.38x as of 11:00 AM IST on October 23, 2026. The issue opened for subscription on October 21, 2026. Retail investors represent the most-bid category at 1.43x. The overall subscription multiple rose from 0.34x on the second day to 0.38x on the third day.
Paras Healthcare IPO Status: Day 3
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 | 41,24,631 | 285.84 | 0.34x |
| Day 3 | Fri, Oct 23, 2026 | 45,42,510 | 314.80 | 0.38x |
Category-wise subscription
| Category | Shares offered | Day 2 bids | Day 2 (x) | Day 3 bids | Day 3 (x) |
|---|---|---|---|---|---|
| QIB | 65,90,908 | 4,27,560 | 0.06x | 4,29,009 | 0.07x |
| NII | 32,95,454 | 8,27,253 | 0.25x | 9,69,864 | 0.29x |
| of which individual NII | — | 7,76,685 | — | 9,15,411 | — |
| of which corporate NII | — | 35,406 | — | 39,291 | — |
| of which other NII | — | 15,162 | — | 15,162 | — |
| Retail | 21,96,969 | 28,69,818 | 1.31x | 31,43,637 | 1.43x |
| Total | 1,20,83,331 | 41,24,631 | 0.34x | 45,42,510 | 0.38x |
Retail investors bid 1.43x their allocated quota, marking the only category to exceed its portion. In contrast, qualified institutional buyers (QIB) subscribed to 0.07x of their shares, while non-institutional investors (NII) reached 0.29x. The total number of bids across all categories reached 45,42,510 shares by the final day.
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. is a clinical specialty-led hospital platform providing tertiary and quaternary healthcare services. As per the DRHP, the company operates a network of eight hospitals under the Paras Health brand with an aggregate bed capacity of 2,211 beds as of June 30, 2026. These facilities are located across North India, Bihar, and Jharkhand. The company serves self-pay patients, insurance providers, and government schemes. It focuses on clinical specialties including cardiac, oncology, and neuro sciences. The business earns revenue primarily from healthcare services, which is its single business segment.
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, compared to a loss of ₹57.98 crore in FY 2024-25. Total borrowings increased to ₹323.43 crore in 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 outstanding legal proceedings against the entity, its subsidiaries, promoter, and directors, which could impact operations.
- Reliance on third-party suppliers is significant, with the top 10 suppliers accounting for a substantial portion of necessary medical supplies and equipment.
- Operations occur within a highly regulated industry subject to strict pricing norms and potential future changes in healthcare laws.
- The company is exposed to operational risks including fire, natural disasters such as flooding, and potential medical negligence claims from patients.
- There is a potential inability to pass on increased operational costs to patients due to the impact of inflation.
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 Fri, Oct 23, 2026, 11:00 AM IST and can change. IPO investments are subject to market risks; read the offer document carefully before investing.