Paras Healthcare’s initial public offering reached full subscription on its final day, with bidding at 1.25 times the available shares. Retail and institutional interest drove the demand, while the non-institutional category remained cautious. The company plans to use the fresh funds to pay down debt, a move aimed at improving its cash flow. The stock is expected to list on the exchanges on October 28, 2026.
Paras Healthcare saw its public issue cross the full subscription mark on the final day of bidding, with total applications reaching 1.25 times the shares offered. Data from the National Stock Exchange confirms that retail investors were the most active, covering their portion 1.80 times, while qualified institutional buyers subscribed 1.41 times. In contrast, the non-institutional investor category reached only 55 percent of its quota by the close of the window.
The Gurugram-based hospital chain is raising money through a combination of a fresh issue of shares worth ₹500 crore and an offer-for-sale of ₹950 crore by existing stakeholders. A key focus for the company is using the fresh capital to reduce its debt burden. Hospitals typically require large amounts of capital for setting up infrastructure and purchasing advanced medical equipment, which often leads to higher debt levels. By paying down these borrowings, the company aims to reduce interest expenses and improve the cash available for daily operations across its eight hospitals.
Institutional interest appeared solid ahead of the public bidding process. The company raised ₹652.5 crore from anchor investors, which included major global names such as the Abu Dhabi Investment Authority, BlackRock, and Eastspring Investments. This participation from large institutional players is often viewed as a sign of confidence in the company's growth potential and business model. The price band for the IPO was fixed between ₹660 and ₹693 per share.
The process is being managed by investment banks including JM Financial, BofA Securities India, and Nuvama Wealth Management. The company is set to list its shares on the National Stock Exchange and the Bombay Stock Exchange on October 28. Following the listing, the most important monitorables for investors will be the company's ability to execute its debt repayment plan and maintain stable profit margins as it continues to manage its network of hospitals across five states and one Union Territory.