Park Medi World IPO Subscribed 8.10 Times

New Delhi, Dec 12 (PTI) The initial share sale of Park Medi World Ltd, which operates a hospital chain under the Park brand, received over 8 times subscription on the final day of bidding on Friday.

The Rs 920-crore Initial Public Offering (IPO) got bids for 33,88,29,652 shares against 4,18,18,182 shares on offer, as per NSE data.

The category for non-institutional investors attracted 15.15 times subscription. The quota for Qualified Institutional Buyers (QIBs) received 11.48 times subscription and Retail Individual Investors (RIIs) portion got subscribed 3.16 times.

Park Medi World on Tuesday said it has collected Rs 276 crore from anchor investors.

It has fixed a price band of Rs 154-162 per share for the IPO, valuing the hospital chain at roughly Rs 7,000 crore.


The IPO is a combination of fresh issue of shares worth Rs 770 crore and an offer for sale of shares valued at Rs 150 crore by promoter Ajit Gupta.

The company plans to use proceeds worth Rs 380 crore for payment of debt, and Rs 60.5 crore for the development of a new hospital and the expansion of an existing hospital by its subsidiaries, Park Medicity (NCR) and Blue Heavens, respectively.

A further Rs 27.45 crore is earmarked for the purchase of medical equipment by the company and its subsidiaries, Blue Heavens, and Ratangiri.

The remaining funds will be used for unidentified inorganic acquisitions and general corporate purposes.

Its network of hospitals comprises 13 multi-super specialty hospitals with eight hospitals in Haryana, one hospital in New Delhi, three hospitals in Punjab and two hospitals in Rajasthan.

Nuvama Wealth Management, CLSA India, DAM Capital Advisors and Intensive Fiscal Services are the book running lead managers to the IPO.