Hospital Chain Operator, Park Medi World, Fixes Price Band For Upcoming IPO, Valuing The Company At ₹7,000 Crore

New Delhi: Park Medi World, which operates the hospital chain under the Park brand, on Friday fixed a price band of Rs 154-162 per share for its upcoming Initial Public Offering (IPO), valuing the company at roughly around Rs 7,000 crore.The company's Rs 920 crore maiden public offering will open for subscription on December 10 and conclude on December 12. The bidding for anchor investors will take place on December 9, it said in a public announcement.

The IPO is a combination of fresh issue of shares worth Rs 770 crore and an Offer For Sale (OFS) of shares valued Rs 150 crore by promoter Ajit Gupta.The company plans to use the proceeds worth Rs 380 crore for payment of debt and Rs 60.5 crore will be allocated for funding capital expenditure related to 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.The hospital chain will make its stock market debut on December 17.

Park Medi World is the second largest private hospital chain in North India with an aggregate bed capacity of 3,000 beds, and the largest private hospital chain in terms of bed capacity in Haryana with 1,600 beds located in the state as of March 2025, according to a Crisil report.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.

The company has expanded its total bed capacity from 2,550 beds as of March 31, 2023, to 3,250 beds as of September 30, 2025. It is further strengthening its network through a robust expansion pipeline across Ambala, Panchkula, Rohtak, New Delhi, Gorakhpur and Kanpur, according to the Red Herring Prospectus (RHP).In Ambala, the company has acquired land adjacent to its existing hospital and is undertaking an expansion that will increase capacity from 250 beds to 450 beds, along with the addition of an onco-radiation facility. This project is expected to be completed by October 2027.

In Panchkula, construction is underway for a new 300-bed multi super-specialty hospital, scheduled to become operational by April 2026. Meanwhile, in Rohtak, the company is developing a 250-bed hospital, which is expected to be ready for operations by December 2026.The company said that half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the 15 per cent for non-institutional investors.

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

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