Park Medi World Rs 920 Cr IPO

Park Medi World, a prominent hospital chain in North India, is launching its Initial Public Offering (IPO) to raise Rs 920 crore. The IPO, which opens on December 10 and closes on December 12, has a price band of Rs 154-162 per share. The offering includes a fresh issue of Rs 770 crore and an offer-for-sale of Rs 150 crore by promoter Ajit Gupte. Funds from the IPO will be primarily used for debt repayment (Rs 380 crore), funding a new hospital under Park Medicity (Rs 60.5 crore), and purchasing medical equipment for Park Medi World and its subsidiaries Blue Heavens and India — Ratnagiri (Rs 27.4 crore). The company, which operates 14 NABH-accredited hospitals across Haryana, Delhi, Punjab, and Rajasthan, aims to expand its bed capacity to approximately 4,900 by FY28. The IPO has attracted anchor investors such as Franklin Resources — Western Asset Management Company, Allianz — Allianz Global Investors, Reliance General Insurance Company, Abakkus Asset Manager, Carnelian Asset Management and Advisors Private Limited, HDFC Bank — HDFC ERGO General Insurance, and Société Générale. The shares are scheduled to list on BSE and National Stock Exchange of India on December 17.