Paras Healthcare IPO Day 3: 2.34x subscribed; Retail portion at 4.2x
Key takeaways:
- Paras Healthcare Limited is a multi-specialty tertiary and quaternary healthcare provider with 8 hospitals in India.
- The Paras Healthcare IPO is a book-built offering of ₹1,450.00 crore comprising a fresh issue of ₹500.00 crore and an offer for sale (OFS) of ₹950.00 crore.
- The allotment is expected to be finalised on Monday, October 26, 2026, and the stock market listing is scheduled for Wednesday, October 28, 2026, on both BSE and NSE.
- The three-day subscription window ended today, Friday, October 23, 2026, with the overall subscription of 2.34 times for the day.
- Retail Individual Investors (RIIs) oversubscribed their quota by 2.10 times.
The Paras Healthcare IPO’s subscription window ended today. The mainboard issue, aiming to raise ₹1,450.00 crore, witnessed a gradual rise in institutional bids, whereas retail bids remained consistent during the bidding process, resulting in a total subscription of 2.34 times.
The retail segment crossed full subscription on the second day itself and increased to 2.10 times on Day 3, whereas the subscription numbers saw measured participation from the NIIs segment. Let's dive into the bidding details of Day 3 of the Paras Healthcare IPO.
Key details of the Paras Healthcare IPO
For investors keeping an eye on this mainboard healthcare offering, the key details regarding the issue structure, pricing, and valuation are:
Key dates for the Paras Healthcare IPO
The bidding window is over today, and now it's time for share allotment and listing. The tentative schedule for the upcoming milestones is as follows:
About Paras Healthcare
As of June 30, 2026, it operates eight hospitals with 2,211 beds. The network has 1,084 doctors and 1,937 nurses.
Its core specialties, namely gastro sciences, orthopaedics and sports injury, cardiac sciences, oncology, neurosciences, and renal sciences, contributed 75.30% of revenue from operations in the three months ended June 30, 2026.
The company plans to use ₹320.9 crore of the fresh issue proceeds to prepay or repay certain borrowings, and ₹54.1 crore to invest in its wholly owned subsidiary, PMHPL, to repay or prepay that subsidiary's borrowings. The rest is earmarked for general corporate purposes. The OFS proceeds will go to the selling shareholders.
In FY26, revenue from operations rose about 24% to ₹1,605.95 crore from ₹1,294.06 crore in FY25. EBITDA more than doubled to ₹335.58 crore from ₹156.46 crore, and the company became profitable with a PAT of ₹43.83 crore from a loss of ₹57.98 crore in the previous year.
Last-day subscription status
On the final day, the issue had a cumulative subscription of 2.85 times by the end of day 3 bidding. Retail Individual Investors (RIIs) drove the momentum across all three days, subscribing 1.78 times. Here is a closer look at the subscription progression across all three days of the bidding window:
What's next?
With the bidding window closed today at 5:00 PM, the allotment is expected to be finalised on Monday, October 26, 2026. Since the retail category is oversubscribed, retail share allotment will be conducted through a computerised lottery system. Once the allotment is finalised, applicants can check their allotment status on the registrar's website (MUFG Intime India) or on the BSE and NSE websites.
Once the allotment is finalised, refunds and the unblocking of ASBA bank mandates for unallotted applicants, along with the credit of equity shares to successful allottees' demat accounts, will be initiated on Tuesday, October 27, 2026, ahead of the company's stock market debut on Wednesday, October 28, 2026, on both the NSE and BSE.
