Paras Healthcare Share Price Today: Up 12.6% Over the Issue Price After Listing, What the Numbers Say Before You Decide

A stock that is up 12.6% over its issue price in two sessions prompts the usual question: buy, sell or hold? This article does not answer that for you. It explains what the Paras Healthcare share price is paying for, how the listing went, what the hospital business and its financials look like, how debt and the use of fresh money matter, how valuation measures differ and what the chart can and cannot tell you after only two sessions.

Two flags. Valuation figures differ widely by source: the data provider shows a trailing price to earnings of 182.01, while brokers cited about 37.7 times on annualised June 2026 quarter earnings at the issue price. Also, the June 2026 quarter profit of Rs 49.68 crore is higher than the whole of FY26, and I could not confirm whether one-off items explain that. It is educational and not advice.

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Paras Healthcare Share Price Today: Snapshot

Paras Healthcare share price: item	Value (NSE, 10:59 AM IST)
Last price	Rs 780.55, up 6.11%
Previous close (listing day)	Rs 735.60
Day open, high and low	Rs 721, Rs 783.45 and Rs 720.10
Volume so far	About 19.2 lakh shares
Issue price	Rs 693
Gain over the issue price	About 12.6% (my calculation)
Market capitalisation	About Rs 7,976 crore

The Paras Healthcare share price opened near the listing price and climbed through the morning, with the low of Rs 720.10 equal to the listing price. That shows buyers defended the listing level, but two sessions are a very short record, and a first-week move says little about the next quarter.

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Issue and Listing Recap Behind the Paras Healthcare Share Price

Paras Healthcare share price: issue item	Detail
Issue dates	21 to 23 Oct 2026
Price band	Rs 660 to Rs 693; final issue price Rs 693
Issue size	About Rs 1,450 crore
Fresh issue	About Rs 500 crore, which goes to the company
Offer for sale	About Rs 950 crore, which goes to selling shareholders
Anchor investors	Rs 652.30 crore from 39 investors at Rs 693
Overall subscription	2.34 times (QIB 3.25 times, retail 2.10 times, NII 0.69 times)
Listing (28 Oct)	Rs 720 on both exchanges, a premium of 3.9%
Listing-day close	Rs 735.60 (about 6.1% above the issue price, my calculation)

Two details stand out. About 65% of the issue was an offer for sale (my calculation), so most of the money went to existing shareholders and not to the hospital group. And the non-institutional portion was subscribed only 0.69 times, which shows that high-networth demand was weak while institutions and retail investors were stronger. The listing premium of 3.9% was modest, and the move since has been larger.

The Business Behind the Paras Healthcare Share Price

Paras Healthcare share price: business fact	Detail
Company	Gurugram-based hospital operator founded in 1987, operating as Paras Health
Hospitals	Eight hospitals across Gurugram, Panchkula, Patna, Darbhanga, Kanpur, Udaipur, Ranchi and Srinagar
Bed capacity	2,211 beds, planned to rise to 3,011 by March 2028
Operational beds (FY26)	1,502, with overall occupancy of 61.75% (Ventura Securities)
Focus	Tertiary and quaternary care in North India, Bihar and Jharkhand
Revenue mix	About 68% from Tier-2 cities (Ventura Securities)

The gap between a bed capacity of 2,211 and 1,502 operational beds suggests that part of the capacity is not yet in use, which I read as room to grow but also as a source of cost before beds start earning. Occupancy of 61.75% is moderate for a hospital group, and the Paras Healthcare share price will depend on whether occupancy and revenue per bed keep rising as new capacity opens.

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Financials: From Losses to Profit

Paras Healthcare share price: financial year (Rs crore)	Revenue	EBITDA	Net profit
FY22	793.17	85.99	-14.81
FY23	936.05	87.61	-42.79
FY24	1,151.02	154.41	-15.33
FY25	1,314.21	156.46	-57.98
FY26	1,628.78	335.58	43.83

Revenue grew about 19.7% a year over the four years from FY22 to FY26 (my calculation), and EBITDA more than doubled in FY26 to Rs 335.58 crore, lifting the EBITDA margin to 21.1% from 12.3%. Yet FY26 was the first profitable year in the table, and net profit of Rs 43.83 crore is only 2.7% of revenue. The Paras Healthcare share price is therefore based on a turnaround that is one year old.

Paras Healthcare share price: recent quarter	Figure
June 2026 quarter revenue	Rs 478.75 crore
June 2026 quarter net profit	Rs 49.68 crore
Net margin (my calculation)	About 10.4%
FY26 net margin (my calculation)	About 2.7%

A net margin of 10.4% in one quarter against 2.7% for the year is a large jump. It may reflect lower interest and better occupancy, or a one-off gain, and I could not verify which. Until the next quarter is reported, I treat the June 2026 quarter as a promising but unconfirmed data point.

Debt and Use of Proceeds for the Paras Healthcare Share Price

Debt is the main weakness. The data provider shows debt to equity of 3.53 now and 3.89 at March 2026, against equity of Rs 394.94 crore, which implies borrowings of roughly Rs 1,500 crore at March 2026 (my rough calculation, and definitions may include lease liabilities). In FY26, EBIT of Rs 192.01 crore fell to a pre-tax profit of Rs 76.03 crore, so interest and similar costs took about Rs 116 crore (my calculation), more than half of operating profit.

Paras Healthcare share price: use of fresh issue money	Detail
Debt repayment	A stated use; the amount was not in my sources
Investment in a wholly owned subsidiary	A stated use; the amount was not in my sources
General corporate purposes	A stated use
Total fresh money	About Rs 500 crore

Because the fresh issue of about Rs 500 crore is only about a third of the borrowings I estimate, debt repayment from the issue will help but not remove the burden. Lower interest cost could lift profit, which is why the debt repayment is central to the Paras Healthcare share price story.

Valuation: Why Sources Give Different Answers for the Paras Healthcare share price

Paras Healthcare share price: valuation measure	Figure	Source or basis
Price to earnings (trailing)	182.01	Data provider; industry 60.65
Price to earnings (annualised June 2026 quarter)	About 37.7 to 38 times	Brokers at the issue price
Price to earnings at Rs 780.55 (my calculation)	About 40 times	Market capitalisation divided by annualised June 2026 quarter profit of about Rs 199 crore
EV to EBITDA (FY26)	About 25 to 25.7 times	Brokers at the issue price
Price to book	8.91	Data provider; book value Rs 82.71
Return on equity	11.10%	Data provider

The trailing figure of 182 uses a profit that only began recently, and the annualised figure of about 40 assumes the June 2026 quarter profit repeats four times. The truth is between the two and depends on whether that profit is sustainable. A price to book of 8.91 and a return on equity of 11.10% show that investors are paying a high price for each rupee of net worth and each rupee of current returns.

What Brokers Said Before the Paras Healthcare share price Moved

Brokerage (view before the Paras Healthcare share price moved)	Stance at the issue stage
Anand Rathi	Subscribe for the long term; called the issue fully priced
Religare Broking	Subscribe for the long term
Master Capital Services	Subscribe for the long term
BP Equities, Sushil Finance, Ventura Securities	Subscribe
SBI Securities	Neutral; flagged dependence on government schemes and PSU patients, and regulatory and pricing uncertainty

These views were issued before listing, at Rs 693, so they do not account for the 12.6% move since. Most were positive, and the one neutral call raised a concern about dependence on government schemes, which is worth understanding because patients under such schemes usually pay lower rates. The Paras Healthcare share price now sits above the level at which those views were given.

Chart Check on the Paras Healthcare share price After Two Sessions

Paras Healthcare share price: level	Rs	Distance from Rs 780.55 (my calculation)
Day high	783.45	About +0.4%
20-day EMA (only two days of data)	739.84	About -5.2%
Listing price	720	About -7.8%
Issue price	693	About -11.2%

With only two sessions of history, the 20-day average of Rs 739.84 is built from two prices and is not a reliable trend line. The listing price of Rs 720 and the issue price of Rs 693 are the more useful reference levels, since many first-day buyers and anchor holders are anchored to them. A fall back toward Rs 720 would test whether the listing-day buyers remain.

Risks Around the Paras Healthcare Share Price

1. High debt. Debt to equity of about 3.5 to 3.9 means interest takes a large share of operating profit and leaves the Paras Healthcare share price exposed to rate and cash flow changes.
2. Valuation. A trailing price to earnings of 182 and a price to book of 8.91 leave little room for a miss.
3. A young turnaround. FY26 was the first profitable year in the five-year table.
4. Government scheme dependence. SBI Securities flagged reliance on government schemes and PSU patients, which can mean lower rates and payment delays.
5. Capacity not yet earning. About 700 beds of the planned bed capacity are not yet operational (my calculation), and new hospitals take time to reach good occupancy.
6. Short trading history. Two sessions are too few for reliable trend indicators.

Conclusion: The Paras Healthcare Share Price Reflects a Turnaround That Is Still Proving Itself

The Paras Healthcare share price is Rs 780.55, about 12.6% above the issue price, supported by a profitable FY26, strong EBITDA growth and a bed expansion plan. The debt, the valuation and the short record are the reasons to read the next quarterly result carefully. Check the filings and decide according to your own risk profile.

Frequently Asked Questions

What is the Paras Healthcare share price today?

Ans. The Paras Healthcare share price was Rs 780.55 on the NSE, up 6.11%, at 10:59 AM IST on 29 Oct 2026. It opened at Rs 721 and reached a high of Rs 783.45, against a previous close of Rs 735.60.

How did the Paras Healthcare share price start after listing?

Ans. The shares listed on 28 Oct 2026 at Rs 720 on both exchanges, a premium of 3.9% to the issue price of Rs 693. The listing-day close was Rs 735.60.

How big was the Paras Healthcare issue and who got the money?

Ans. The issue was about Rs 1,450 crore, of which about Rs 500 crore was a fresh issue that goes to the company and about Rs 950 crore was an offer for sale that goes to selling shareholders. The fresh money is meant for debt repayment, investment in a subsidiary and general corporate purposes.

What does the company behind the Paras Healthcare share price do?

Ans. It is a Gurugram-based hospital operator, founded in 1987, that runs eight hospitals with 2,211 beds across North India, Bihar and Jharkhand. It plans to reach 3,011 beds by March 2028.

Is the Paras Healthcare share price expensive for the earnings?

Ans. The data provider shows a trailing price to earnings of 182.01 against an industry figure of 60.65, while brokers cited about 38 times on annualised quarterly earnings at the issue price. My calculation at Rs 780.55 gives about 40 times annualised June 2026 quarter profit.

What are the main risks for the Paras Healthcare share price?

Ans. The main risks are the high debt, a valuation that assumes the recent profit continues, dependence on government schemes, and new capacity that has yet to earn. A short trading history also makes the chart signals unreliable.

How profitable is the business behind the Paras Healthcare share price?

Ans. FY26 net profit was Rs 43.83 crore on revenue of Rs 1,628.78 crore, a net margin of about 2.7%, after losses in each of the four earlier years in the table. The June 2026 quarter showed Rs 49.68 crore on Rs 478.75 crore.

Is this article investment advice?

Ans. No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.