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Park Medi World Ltd
HealthcareIPO
₹162 - 162
We are 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 31, 2025. (Source: CRISIL Report). We operate a network of 14 NABH accredited multi-super specialty hospitals under the `Park' brand. We have increased our bed capacity from 2,550 beds as of March 31, 2023 to 3,250 beds as of September 30, 2025, and we currently have a pipeline of hospital expansion in Ambala, Panchkula, Rohtak, New Delhi, Gorakhpur and Kanpur.
Lot92Min Invest₹14,904Face Value₹2Issue Size₹920 CrFresh Issue₹770 CrOffer for Sale₹150 CrListing Price₹156CMP₹286
Timeline
10 Dec
Bidding opens
12 Dec
Bidding closes
15 Dec
Allotment
16 Dec
Refund & demat credit
17 Dec
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹920 Cr5.68 Cr shares
Fresh Issue₹770 Cr
Offer for Sale₹150 Cr
Face Value₹2
Lot Size92 shares
ReservationQIB 50% · NII 15% · RETAIL 35%
Application Sizes
Retail₹14,9041-13 lots
sNII₹2,08,656from 14 lots
bNII₹10,13,472from 68 lots
Managers & Registrar
Lead ManagerNuvama Wealth Management Ltd
Co-ManagerCLSA India Pvt ltd, DAM Capital Advisors Ltd, Intensive Fiscal Services Pvt Ltd
RegistrarKFin Techologies Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrAjit GuptaPRMTR92,59,259150.00Total92,59,259150.00
Shareholding
CategoryPre IPOPost IPOPromoter Group95.55%82.9%Public4.45%17.1%
Objects of the Issue
- Repayment/Prepayment in full or in part of certain outstanding borrowings availed by the company and certain of the company subsidiaries
- Funding capital expenditure for development of new hospital by its Subsidiary Park Medicity (NCR)
- Funding capital expenditure for purchase of medical equipment by the Company and its Subsidiaries, Blue Heavens and Ratangiri
- General corporate purposes
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| RevenueCr | 1,255 | 1,231 | 1,394 | 1,679 | 1,756 |
| Operating ProfitCr | 390 | 310 | 371 | 444 | 466 |
| OPM% | 31.1 | 25.2 | 26.6 | 26.5 | 26.5 |
| PBTCr | 315 | 218 | 286 | 355 | 378 |
| PATCr | 228 | 152 | 215 | 274 | 297 |
| EPS | 15 | 10 | 6 | 7 | 7 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Equity CapitalCr | 77 | 77 | 77 | 86 | - |
| ReservesCr | 610 | 806 | 975 | 1,936 | - |
| BorrowingsCr | 576 | 687 | 682 | 364 | - |
| Fixed AssetsCr | - | - | 890 | 1,309 | - |
| Total AssetsCr | 1,593 | 1,912 | 2,139 | 2,813 | - |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 199 | 367 | 215 | 329 | - |
| Investing Cash FlowCr | -234 | -76 | -100 | -333 | - |
| Financing Cash FlowCr | 1 | -130 | -89 | 121 | - |
| Net Cash FlowCr | -34 | 161 | 26 | 116 | - |
Strengths & Risks
Strengths · as stated in the DRHP
- Second largest chain of private hospitals in North India and largest private hospital chain in Haryana.
- Delivering high-quality and affordable healthcare with a diverse specialty mix.
- Track record of successfully acquiring and integrating hospitals.
- Strong operational and financial performance with diversified payor mix.
- Doctor led professional management team with industry experience.
Strategies · as stated in the DRHP
- Expand our hospital network through organic and inorganic initiatives with a focus on North India.
- Grow our presence to adjacent markets.
- Focus on scaling our operations and improve our operational efficiencies.
- Retaining and attracting skilled and experienced doctors and clinicians.
Risks · as stated in the DRHP
- The company certain contingent liabilities that has been disclosed in the company financial statements. As of September 30, 2025, its contingent liabilities (excluding corporate guarantees) constituted 11.66% of the company net worth, while corporate guarantees given by the Company and Subsidiaries constituted 71.58% of our net worth. If these liabilities materialize, they may adversely affect the company results of operations, cash flows and financial condition.
- A significant portion of our revenue from operations is derived from our hospitals located in Haryana, which comprised 74.62%, 76.92%, 83.91% and 84.98% of our revenue from operations in the six months ended September 30, 2024 and Fiscals 2024, 2023 and 2022, respectively. Any adverse developments at these hospitals or in this state could have an adverse effect on our business, results of operations and financial condition.
- The nature of our business involves certain high costs including our cost of materials purchased, employee benefit expenses and professional and consultancy fees, and a failure to pass on such costs to patients could adversely affect our business, results of operations and financial condition.
- We may not be able to complete or achieve the expected benefits from current or future acquisitions or successfully integrate new hospitals with our network, which could adversely affect our business and prospects.
- We may not be successful in developing our proposed hospitals and may not achieve operating capacities that we anticipate, any of which could adversely affect our business, results of operations, financial condition and prospects.
- Our arrangements with certain of our doctors are on a consultancy basis. If such doctors discontinue their association with us or are unable to provide their services at our hospitals, our business and results of operations may be adversely affected.