Park Medi World IPO Nears Close: Moderate GMP Suggests Listing Pop of ~5-7%

Private hospital chain in North India, Park Medi World, which launched its initial public offering (IPO) to raise over Rs 900 crore from the primary market on Monday, was subscribed 0.98 times on its second day of subscription. According to BSE, investors bid for 4,11,33,016 shares against the 4,18,18,182 on offer. It was subscribed 0.52 times on its first day of subscription.

As the subscription enters its final day, the 70% drop in the grey market premium (GMP) for the Park Medi World IPO - compared to the high recorded a few days earlier - continues to draw the attention of private market investors

Here's all you need to know about the Park Hospitals IPO, including the latest GMP, price band, issue size, lot size, and more as the subscription period concludes today.

According to InvestorGain, the GMP for the Park Medi World IPO stood at Rs 8.5 on December 12. The latest GMP indicates an estimated listing price of Rs 170.5 apiece at a premium of 5.25% over the upper limit of the IPO price band. 

Note: GMP does not represent official data and is based on speculation.

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The IPO was subscribed 0.98 times on Day 2

• Qualified Institutional Buyers: 0.32 times

• Non Institutional Investors: 1.38 times

• Retail Individual Investors: 1.19 times

The Park Medi World IPO is a book-building issue worth Rs 920 crore. It comprises a fresh issue of 4.75 crore shares, amounting to Rs 770 crore, and an offer-for-sale (OFS) of 93 lakh shares, aggregating to Rs 150 crore.

The price band for the IPO has been fixed at Rs 154 to Rs 162 per share.

To participate in the IPO, retail investors need to bid for a single lot size of 92 shares, requiring an investment of Rs 14,904. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,08,656.

Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 68 lots. It will lead to an investment of Rs 10,13,472.

Nuvama Wealth Management Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar of the issue.

For more details about Park Hospital IPO, check the RHP document here.

The company is expected to finalise the Park Medi World IPO share allotment on December 15. Park Medi World will transfer shares to the demat accounts of successful bidders on December 16, and refunds to non-allottees will also be processed on the same day. 

Shares of Park Medi World Ltd. are expected to list on the BSE and NSE on December 17. 

The company will use proceeds from the IPO to clear debt, fund capital expenditure, make unidentified inorganic acquisitions and general corporate purposes.

Incorporated in 2011, Park Medi World Limited is a private hospital chain operating primarily in North India, with a total bed capacity of 3,000 beds as of March 31, 2025.

The company operates 14 multi-speciality hospitals under the ‘Park’ brand. All hospitals are accredited by the National Accreditation Board for Hospitals & Healthcare Providers (NABH), and eight are also accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL). The network includes facilities in Haryana, Delhi, Punjab, and Rajasthan.

It has hospitals across several states including Haryana (Ambala, Gurugram, Karnal, Panipat, Palam Vihar, Sonipat, Faridabad), Delhi, Punjab (Patiala, Mohali), and Rajasthan (Jaipur, Behror).

For the half-year ended Sept.ember 30, the company reported a 23.25% year-on-year (YoY) rise in profit after tax to Rs 139.14 crore from Rs 112.89 crore in the same period last year. Total income grew 16.4% YoY to Rs 823.4 crore for the six months ended Sept. 30, compared to Rs 707.5 crore in the same period a year ago.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.