Paras Healthcare Limited’s Initial Public Offer to open on Wednesday, October 21, 2026
Price Band has been fixed at ₹ 660 to ₹ 693 per Equity Share
*From (L-R)*
Dilip Bidani, Group Chief Financial Officer, Paras Healthcare Limited
Dr. Dharminder Kumar Nagar, Managing Director, Paras Healthcare Limited
The Floor Price is 660 times, and the Cap Price is 693 times of the face value (₹1 per share) of the Equity shares
Bid/Offer will open on Wednesday, October 21, 2026, and close on Friday, October 23, 2026 (“Bid Dates”)
The Anchor Investor Bid/Offer Period shall be on Monday, October 19, 2026
Bids can be made for a minimum of 21 Equity Shares and in multiples of 21 Equity Shares thereafter (“No. of Bids”)
RHP Link: https://www.jmfl.com/Common/getFile/6104
October 15, 2026: Paras Healthcare Limited (the “Company”), shall open the Bid/Offer in relation to its initial public offer (the “Offer”) of Equity shares on Wednesday, October 21, 2026.
The price band of the Offer has been fixed at ₹ 660 to ₹ 693 per Equity Share. (“Price Band”).
Bids can be made for a minimum of 21 Equity Shares and in multiples of 21 Equity Shares thereafter. (“Minimum Bid Lot”).
The Anchor Investor Bidding Date shall be Monday, October 19, 2026. The Bid/Offer shall open on Wednesday, October 21, 2026.
The Offer comprises a fresh issue of equity shares aggregating up to ₹ 500 crore and an offer for sale of equity shares aggregating up to ₹ 950 crore by the selling shareholder. The total offer size is up to ₹ 1450 crore. The face value of each equity share is ₹ 1.
The Equity Shares of face value of ₹1 each to be offered through the Red Herring Prospectus are proposed to be listed on the stock exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”, and together with the BSE, the “Stock Exchanges”).
The Company proposes to utilize the net proceeds towards:
Prepayment or scheduled re-payment, in full or part, of certain outstanding borrowings availed by the company;
Investment in the wholly owned subsidiary, Plus Medicare Hospitals Private Limited (“PMHPL”) (which also operates its hospital in Srinagar), for repayment/prepayment of borrowings, in full or part, of PMHPL and;
General corporate purposes
JM Financial Limited, BofA Securities India Limited and Nuvama Wealth Management Limited are the book running lead managers to the issue.
*From L-R*
Yogesh Hede, Executive Director, JM Financial Limited
Dilip Bidani, Group Chief Financial Officer, Paras Healthcare Limited
Dr. Dharminder Kumar Nagar, Managing Director, Paras Healthcare Limited
Sayantan Bhattacharyya, Associate, BofA Securities India Limited
Priti Sahay, Director Healthcare & Pharma, Nuvama Wealth Management Limited
This is an Offer in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”), read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “SEBI ICDR Regulations”). This Offer is being made through the Book Building Process in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein at least 75% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion, the “QIB Portion”), provided that our Company in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis, in accordance with SEBI ICDR Regulations (the “Anchor Investor Portion”), out of which 40% of the Anchor Investor Portion shall be reserved as follows: (i) 33.33% for domestic Mutual Funds; and (ii) 6.67% shall be available for allocation to Life Insurance Companies and Pension Funds, subject to valid Bids being received from the domestic Mutual Funds and Life Insurance Companies and Pension Funds at or above the price at which allocation will be made to Anchor Investors (“Anchor Investor Allocation Price”), in accordance with the SEBI ICDR Regulations and any under-subscription of 6.67% of the Anchor Investor Portion reserved for Life Insurance Companies and Pension Funds, may be allocated to domestic Mutual Funds. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the remaining QIB Portion (the “Net QIB Portion”).
Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders including Mutual Funds, subject to valid Bids being received at or above the Offer Price. If at least 75% of the Offer cannot be Allotted to QIBs, then the entire application money will be refunded forthwith. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs.
Further, not more than 15% of the Offer shall be available for allocation to Non-Institutional Bidders (“NIBs”) in accordance with the SEBI ICDR Regulations of which (a) one-third portion shall be reserved for applicants with application size of more than ₹200,000 and up to ₹1,000,000; and (b) two-thirds portion shall be reserved for applicants with application size of more than ₹1,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders, subject to valid Bids being received at or above the Offer Price and not more than 10% of the Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All Bidders (except Anchor Investors) are mandatorily required to utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID in case of UPI Bidders using the UPI Mechanism, in which case the corresponding Bid Amounts will be blocked by the SCSBs or by the Sponsor Banks, as applicable under the UPI Mechanism, to participate in the Offer. Anchor Investors are not permitted to participate in the Offer through the ASBA process
Disclaimer:
Paras Healthcare Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares and has filed a red herring prospectus dated October 14, 2026 (“RHP”) with the Registrar of Companies, Haryana at Chandigarh. The RHP is available on the website of SEBI at www.sebi.gov.in, the Company at www.parashospitals.com and the websites of the Book Running Lead Managers - JM Financial Limited, BofA Securities India Limited, Nuvama Wealth Management Limited at www.jmfl.com, https://business.bofa.com/bofas-india and www.nuvama.com, respectively and the websites of BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively.
Investors should note that investment in equity shares involves a high degree of risk and for details refer to the RHP, including the section titled “Risk Factors”. Potential investors should not rely on the draft red herring prospectus for any investment decision.
The Equity Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold (a) in the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act) pursuant to the private placement exemption set out in Section 4(a) of the U.S. Securities Act, and (b) outside the United States in “offshore transactions” as defined in and in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdictions where those offers and sales are made.
