Park Medi World’s ₹920-crore initial public offering edged close to full subscription on Day 2, recording an overall uptake of 0.98 times.
The issue saw its strongest support from non-institutional investors, who subscribed 1.38 times, while retail investors also showed solid interest at 1.19 times. Qualified institutional buyers remained cautious, contributing a more subdued subscription of 0.32 times.
IPO details
Park Medi World raised ₹276 crore from anchor investors, setting the stage for the main book-build. The total IPO size stands at ₹920 crore, combining a fresh issue of ₹770 crore and an offer for sale of ₹150 crore by promoter Ajit Gupta. The price band has been set at ₹154–162 per share, implying a valuation of roughly ₹7,000 crore for the multi-specialty hospital chain.
The issue is being managed by Nuvama Wealth Management, CLSA India, DAM Capital Advisors and Intensive Fiscal Services, all acting as book-running lead managers.
Use of funds
The company plans to deploy ₹380 crore from the fresh issue towards debt repayment, a step expected to strengthen its balance sheet and improve cash flows. Another ₹60.5 crore will go towards capital expenditure for developing a new hospital and expanding an existing one through subsidiaries Park Medicity (NCR) and Blue Heavens.
Additionally, ₹27.45 crore is earmarked for the purchase of medical equipment for Park Medi World and subsidiaries Blue Heavens and Ratangiri. The remainder will support inorganic acquisitions and general corporate purposes.
Broking firms tracking the issue expect the company’s strong regional presence, expanding hospital network and debt reduction plans to support a stable long-term outlook. However, the valuation—considered full by some analysts—may be influencing the cautious QIB response.
Park Medi World shares are scheduled to list on the stock exchanges on December 17, 2025.
Published on December 11, 2025
