Park Medi World's IPO Draws Strong Interest with 52% Day-One Subscription

Park Medi World's Rs 920-crore IPO saw a 52% subscription on its first day, with strong participation from non-institutional and retail investors. The company collected Rs 276 crore from anchor investors and plans to use the proceeds for debt payment, hospital expansion, and equipment purchases.

Park Medi World, known for its extensive hospital network across India, witnessed a promising start to its initial public offering (IPO) with a 52% subscription rate on its first day. The Rs 920-crore IPO drew considerable interest with bids for 2,19,00,048 shares against 4,18,18,182 on offer.

Investment appetite was particularly strong among non-institutional investors with a 66% subscription rate and retail individual investors at 61%, while qualified institutional buyers' quota saw 27% subscription. Ahead of the IPO, Park Medi World secured Rs 276 crore from anchor investors, with the offering closing on December 12.

The company has set a price band between Rs 154-162 per share, evaluating the hospital chain at approximately Rs 7,000 crore. Proceeds aim to cover debt repayments, hospital expansions, equipment purchases, and potential acquisitions. The stock is slated for a market debut on December 17, guided by lead managers Nuvama Wealth Management, CLSA India, DAM Capital Advisors, and Intensive Fiscal Services.

(With inputs from agencies.)