The Paras Healthcare IPO listing is on 28 October 2026, on BSE and NSE. The ₹1,450 crore IPO was subscribed 2.23 times, and the grey market premium (GMP) was ₹12 on 27 October. That points to a price near ₹705 against the issue price of ₹693.
Key facts before listing
| Item | Detail |
|---|---|
| Issue price | ₹693 (band was ₹660–693) |
| Lot size | 21 shares, ₹14,553 at the upper band |
| Issue size | ₹1,450 crore, ₹500 crore fresh and ₹950 crore OFS |
| Allotment | 26 October |
| Refunds and demat credit | 27 October |
| Listing | 28 October, BSE and NSE |
| Registrar | MUFG Intime India |
How the issue was subscribed
Big investors like mutual funds (QIBs) bid 3.09 times their share. Retail investors bid 2 times. The non-institutional portion (NII) did not fill, at 0.66 times.
| Category | Subscribed |
|---|---|
| QIB | 3.09x |
| NII (total) | 0.66x |
| bNII (bids above ₹10 lakh) | 0.59x |
| sNII (₹2 lakh to ₹10 lakh) | 0.80x |
| Retail | 2.00x |
| Total | 2.23x |
That is modest demand. In 2026 so far, the middle mainboard IPO was subscribed about 22 times. Paras Healthcare stayed far below that. The unfilled NII portion also means some HNI applicants will have got every share they bid for.
What our data shows
The GMP stayed in a narrow range for five days, between ₹9 and ₹12. That is 1.3% to 1.7% of the issue price. GMP is an unofficial grey market number, not an exchange price, so the open can differ.
| Date | GMP | % of issue price |
|---|---|---|
| 23 October | ₹11 | 1.59% |
| 24 October | ₹12 | 1.73% |
| 25 October | ₹9 | 1.30% |
| 26 October | ₹11 | 1.59% |
| 27 October | ₹12 | 1.73% |
Look at how the grey market did on the ten latest mainboard debuts. Its last quote missed the real listing gain by about 7 percentage points on average. Five times it was too high, and five times too low. So treat ₹12 as a rough guide only.
The business and the numbers
The company is a hospital chain based in Gurugram. Its eight hospitals have 2,211 beds across five states and one union territory. Revenue was ₹1,606 crore in FY2026, up 24% from the year before.
The company made a profit of ₹43.83 crore in FY2026. It had lost ₹57.98 crore in FY2025. Borrowings were ₹1,394 crore on 31 March 2026.
The fresh issue money goes mainly to repay debt. About ₹321 crore is for the company's loans, and ₹54 crore for loans of its Srinagar hospital subsidiary. Selling shareholders get the ₹950 crore from the OFS.
What happens next
Shares should be in demat accounts by 27 October, and trading starts on 28 October. If you applied, you can see the result on our allotment page. Track the latest quote on the GMP page. Full details are on the Paras Healthcare IPO page.
