Paras Healthcare Limited will open its initial public offering (IPO) for subscription on Wednesday, October 21, 2026. The company has fixed the price band at ₹660 to ₹693 per equity share, with a face value of ₹1 per share. The issue will close on Friday, October 23, 2026, while the bidding period for anchor investors is scheduled for Monday, October 19, 2026.
Investors can apply for a minimum of 21 equity shares and in multiples of 21 shares thereafter. At the upper end of the price band, a minimum application will amount to ₹14,553, excluding applicable charges. The company’s equity shares are proposed to be listed on the BSE and the National Stock Exchange of India (NSE).
₹1,450 crore IPO to include fresh issue and offer for sale
The public issue comprises a fresh issue of equity shares worth up to ₹500 crore and an offer for sale (OFS) of shares worth up to ₹950 crore by the selling shareholder. The total issue size is up to ₹1,450 crore.
Under the fresh issue component, the company intends to use the net proceeds to repay or prepay certain outstanding borrowings, either fully or partially. A portion of the proceeds will also be invested in its wholly owned subsidiary, Plus Medicare Hospitals Private Limited (PMHPL), which operates a hospital in Srinagar. The investment will help PMHPL repay or prepay its outstanding borrowings. The remaining proceeds will be used for general corporate purposes.
The offer for sale will allow the selling shareholder to sell existing shares. Proceeds from this component will go to the selling shareholder rather than the company.
IPO allocation and application process
The IPO will follow the book-building process in accordance with applicable Securities and Exchange Board of India (SEBI) regulations. At least 75% of the offer is required to be available for allocation to Qualified Institutional Buyers (QIBs), subject to the applicable regulatory provisions.
Up to 60% of the QIB portion may be allocated to anchor investors on a discretionary basis. Of the anchor investor portion, 33.33% is reserved for domestic mutual funds and 6.67% for life insurance companies and pension funds, subject to valid bids at or above the anchor investor allocation price and applicable regulations.
A minimum of 5% of the net QIB portion will be available for allocation to mutual funds, while the remaining portion will be available to eligible QIB bidders, including mutual funds, on a proportionate basis.
Not more than 15% of the offer will be available for non-institutional bidders. This portion will be divided between applicants bidding for more than ₹2 lakh and up to ₹10 lakh, and those applying for more than ₹10 lakh. Retail individual investors will be eligible for allocation of up to 10% of the offer, subject to applicable rules and valid bids.
All bidders, except anchor investors, must use the Application Supported by Blocked Amount (ASBA) process. Investors applying through the UPI mechanism must provide their UPI ID, where applicable, and the bid amount will remain blocked in accordance with the prescribed process.
JM financial, BofA securities and nuvama to manage issue
JM Financial Limited, BofA Securities India Limited and Nuvama Wealth Management Limited are the book-running lead managers for the issue.
The company has filed its red herring prospectus dated October 14, 2026, with the Registrar of Companies, Haryana at Chandigarh. The document is available through the company’s website, SEBI, the lead managers and the stock exchanges.
Investors should review the red herring prospectus, particularly its risk factors, before making an investment decision. The IPO remains subject to requisite approvals, market conditions and other applicable considerations.
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