Carnelian Capital Boosts Park Medi World Ahead of IPO

Carnelian Asset Management has invested Rs 100 crore in Park Medi World as part of a pre-IPO round. Promoter Ajit Gupta sold shares representing 1.6% stake. The funds will be used to repay debts, expand hospital facilities, and purchase medical equipment, supporting Park Medi World's extensive healthcare network.

Carnelian Asset Management has strategically injected Rs 100 crore into Park Medi World, marking a significant pre-IPO investment. The move facilitated the sale of 61,72,840 shares by promoter Ajit Gupta, amounting to a 1.6% stake in the healthcare enterprise.

The transaction, finalized at Rs 162 per share, underscores Carnelian's commitment to bolstering the company's growth. The shares were acquired by Carnelian Bharat Amritkaal Fund, Carnelian Bharat Amritkaal Fund -2, and Carnelian Asset Management & Advisors Pvt Ltd.

As Park Medi World prepares for its Rs 1,260 crore IPO, the funds are earmarked for debt reduction, capital expenditure on new hospital facilities, and procuring medical equipment. This expansion will enhance Park Medi World's vast network, already boasting 3,000 beds across multiple states.

(With inputs from agencies.)