Park Medi World's IPO Sparks Frenzy with 8 Times Oversubscription

Park Medi World Ltd's IPO was oversubscribed 8 times on the final bidding day. The company received record subscriptions from non-institutional and institutional buyers. The IPO aims to raise funds to clear debts, develop hospitals, and facilitate acquisitions. The company is valued at Rs 7,000 crore.

The IPO of Park Medi World Ltd, a hospital chain operator, saw an overwhelming response with an 8-fold oversubscription on its last bidding day, as per NSE data. The offering, valued at Rs 920 crore, attracted interest from all investor categories.

Non-institutional investors led the charge with a 15.15 times subscription, while Qualified Institutional Buyers and Retail Individual Investors had 11.48 and 3.16 times subscriptions, respectively. In a pre-IPO move, the company raised Rs 276 crore from anchor investors.

Proceeds from the IPO will be used to repay debts, develop new healthcare facilities, and expand existing ones. Valued at roughly Rs 7,000 crore, Park Medi World operates 13 hospitals across Haryana, New Delhi, Punjab, and Rajasthan.

(With inputs from agencies.)