Park Medi World IPO Day 1: Check GMP, subscription status, review, and more - Should you apply?

Park Medi World IPO Day 1: The initial public offering (IPO) of Park Medi World, operator of the Park Hospital chain across North India, opened for public subscription today, December 10, and will close on Friday, December 12. The company aims to raise ₹920 crore through the IPO.

The offer comprises a fresh issue of 4.75 crore shares aggregating to ₹770 crore and an offer for sale (OFS) of 0.93 crore shares worth ₹150 crore.

The IPO price band has been fixed at ₹154 to ₹162 per share.

The allotment for the Park Medi World IPO will be finalised on December 15. Successful applicants are expected to receive shares on December 16, with refunds for non-allottees also processed on the same day.

The company is scheduled to list on both the NSE and BSE on December 17.

Park Medi World plans to allocate ₹380 crore from the fresh issue towards repaying borrowings taken by the company and its subsidiaries. Another ₹60.50 crore will go toward setting up a new hospital and expanding both its existing facility and that of its subsidiary. A further ₹27.46 crore has been designated for capital expenditure on medical equipment, with the remaining funds earmarked for general corporate purposes and potential inorganic acquisitions that have not yet been identified.

The company secured ₹276 crore through its anchor investor round on December 9, one day before the IPO opened to the public.

As per the IPO structure, up to 50% of the issue is allocated to qualified institutional buyers, a minimum of 35% is reserved for retail investors, and at least 15% is set aside for non-institutional investors.

Applications must be made in lots of 92 shares, which means retail investors need to commit at least ₹14,904.

The issue is managed by Nuvama Wealth Management, CLSA India, DAM Capital and Intensive Fiscal Services as book-running lead managers, while KFin Technologies serves as the registrar.

Park Medi World IPO GMP Today

Investor sentiment toward the IPO is muted, as Park Medi World's grey market premium (GMP) fell to ₹26 from ₹29 on December 10. This suggested that the stock was likely to debut at ₹188, a premium of 16.05% from IPO price of ₹162.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Park Medi World IPO subscription status

By 2:55 pm on Day 1, the IPO was subscribed 0.41 times overall.

The retail category stood at 0.48x.

The NII segment saw subscriptions of 0.43x.

However, the QIB portion had received 0.28x bids till then.

In total, the company received bids for 1.63 crore shares against the 3.97 crore shares on offer.

Should you subscribe?

Anand Rathi said that at the upper end of the price band, Park Medi World is valued at 32.8x FY25 P/E, translating into a post-issue market capitalisation of ₹5,355.9 crore. The brokerage noted that the company is positioned to benefit from rising demand for affordable, high-quality healthcare as it expands its hospital network through a mix of organic growth and strategic acquisitions.

The company is working to improve occupancy levels at existing hospitals while scaling newer facilities by investing in advanced technology, high-end medical equipment, new clinical programmes and additional specialised talent. A major pillar of its strategy is strengthening its medical team. As the brokerage put it, “the company’s ability to attract and retain experienced doctors and clinical professionals remains central to sustaining and elevating the quality of care it delivers.”

Given these drivers, Anand Rathi believes the IPO is fairly valued and has assigned a “Subscribe – Long Term” rating.

About Park Medi World

Park Medi World is the second-largest private hospital operator in North India with a combined bed capacity of 3,000 beds, and it holds the distinction of being Haryana’s largest private hospital chain, managing 1,600 beds in the state as of March 31, 2025. The organisation operates 14 NABH-accredited multi-super specialty hospitals under the ‘Park’ brand. Over the past two years, the company has expanded its bed strength from 2,550 beds on March 31, 2023, to 3,250 beds as of September 30, 2025. It also has multiple expansion projects underway in Ambala, Panchkula, Rohtak, New Delhi, Gorakhpur and Kanpur.

On the financial front, Park Medi World delivered a healthy jump in profitability in FY25, reporting ₹213 crore in profit, up from ₹152 crore in FY24, although still below the ₹228 crore earned in FY23. Revenue momentum has also been strong, rising to ₹1,426 crore in FY25 from ₹1,263 crore in FY24 and ₹1,272 crore in FY23.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.