Paras Healthcare IPO
Paras Healthcare IPO is a mainboard IPO raising ₹1,450 Cr at ₹660 – ₹693 a share. The smallest application you can make is 21 shares, costing ₹14,553 at the top of the band. Bidding has closed; the shares list on 28 Oct 2026. So far it has been subscribed 2.23× in total.
2.2 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
66% of this issue is existing shareholders cashing out. Only ₹500 Cr reaches the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. stated in prospectus. Checked: exchange issue size Rs1450 Cr vs derived Rs1450 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 163% above the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Aster DM Quality Care Limited | 91.89× | 9.7% | ₹7.52 |
| Apollo Hospitals Enterprise Limited | 59.36× | 21.95% | ₹134.94 |
| Fortis Healthcare Limited | 55.43× | 11.08% | ₹13.8 |
| Global Health Limited | 64.46× | 15.15% | ₹20.66 |
| Jupiter Lifeline Hospitals Limited | 42.92× | 13.41% | ₹5.92 |
| Krishna Institute of Medical Sciences Limited | 116.41× | 11.01% | ₹6.03 |
| Manipal Health Enterprises Limited | 87× | 12.37% | ₹7.67 |
| Max Healthcare Institute Limited | 62.1× | 14.33% | ₹14.76 |
| Narayana Hrudayalaya Limited | 43.41× | 19.74% | ₹39.67 |
| Yatharth Hospital and Trauma Care Services Limited | 55.16× | 10.36% | ₹18.2 |
| This issue | 159.7× | 12.98% | ₹4.34 |
derived: cut-off price Rs693 / stated EPS Rs4.34 (FY26 diluted EPS for the year ended March 31, 2026, restated consolidated (per table on prospectus page 142)). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.