Paras Healthcare shares: After IPO listing gains, check what's happening with stock - Buy, sell or hold?Experts weigh in
Paras Healthcare shares fell by over 2% in early trade on Thursday, October 29, following a decent stock market debut the day before. However, the stock rebounded sharply, rising 5.4% to a record high of ₹777 per share on the BSE.
Paras Healthcare share price today opened at an intraday low of ₹719.75 per share, and touched an intraday high of ₹777 apiece.
On Wednesday, the stock ended at ₹737.15 on the BSE, up 6.37% from the issue price. On the NSE, it closed at ₹735.60, up 6.14%. The stock listed at ₹720 on the BSE and NSE, a 3.89% premium over its IPO price of ₹693 per share.
The initial public offering (IPO) of Paras Healthcare was subscribed 2.23 times on the final day of bidding last Friday. The company had set the price band at ₹660– ₹693 per share.
The ₹1,450 crore IPO comprised a fresh issue of equity shares worth ₹500 crore and an offer for sale (OFS) of ₹950 crore by promoter Dharminder Kumar Nagar and investor Commelina Ltd.
Based in Gurugram, Paras Healthcare operates a network of eight hospitals across five states and one Union Territory.
Choice Institutional Equities has initiated coverage on Paras Healthcare with a ‘Buy’ rating and a target price of ₹900, implying an upside of around 30%. The brokerage has valued the company using the discounted cash flow (DCF) method, with an implied enterprise value-to-EBITDA multiple of 14 times its FY29 estimates.
The brokerage expects Paras Healthcare’s revenue, EBITDA and profit after tax (PAT) to grow at compound annual growth rates (CAGRs) of 21.9%, 29.4% and 99.1%, respectively, over FY26–FY29. Its growth outlook is supported by a higher contribution from specialised, high-value healthcare services, expansion into underserved markets and operating leverage from improving occupancy and capacity utilisation.
Paras Healthcare’s six core specialties — cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics and renal sciences, collectively referred to as CONGO-R — accounted for around 75% of its FY26 revenue. Choice Institutional Equities believes this focus on specialised tertiary and quaternary care, backed by advanced infrastructure, experienced clinicians and established referral networks, will support revenue growth. Improving occupancy, higher patient volumes and a greater share of complex procedures are also expected to enhance revenue productivity and strengthen earnings.
Separately, Dr Ravi Singh, Chief Research Officer at Master Capital Services, said Paras Healthcare made a positive debut on the stock market, listing at ₹720 on both the NSE and BSE, a premium of around 3.9% over its issue price of ₹693.
Singh highlighted the company’s focus on underserved markets, where demand for quality healthcare services offers room for expansion. Its six core specialties contributed 74.7% of revenue from operations in FY26, reflecting its emphasis on specialised care.
According to Singh, India’s healthcare delivery market was valued at ₹7 lakh crore in FY25 and is estimated to have reached ₹7.6–7.8 lakh crore in FY26. The market is projected to grow at a CAGR of 10–12% to ₹11.2–12.2 lakh crore by FY30, with North India emerging as a key growth market. The region’s healthcare delivery market is expected to reach ₹3.6–3.8 lakh crore by FY30.
Looking ahead, Singh said investors are likely to monitor the company’s ability to sustain revenue and profit growth while improving operational efficiency. Consistent growth in patient volumes, higher occupancy rates, stronger operating margins and cash flows, along with further expansion of healthcare services, could support investor interest in the stock.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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