Park Medi World IPO: Analysts split on prospects; should you apply?

Park Medi World IPO: The maiden public issue of Park Medi World, a private hospital chain based in North India, is scheduled to open for public subscription on Wednesday, December 10, 2025. The company aims to raise ₹920 crore through a combination of fresh issue of 47.5 million shares worth ₹770 crore and an offer for sale (OFS) of 9.3 million shares worth ₹150 crore. Under the OFS, Ajit Gupta is the only promoter selling shareholder. 

 

According to the red herring prospectus (RHP), the company has reserved not more than 50 per cent of the issue for qualified institutional buyers (QIBs), not less than 35 per cent for retail investors and not more than 15 per cent for non-institutional investors (NIIs).

 

Park Medi World IPO: Here's what the brokerages suggest

Arihant Capital - Subscribe

According to analysts at Arihant Capital, Park Medi World is well-placed for steady, multi-year growth driven by its strong regional leadership, scalable cluster-based network, and disciplined approach to deliver affordable, high-quality healthcare. 

 

"The company’s expansion strategy focused on underserved North Indian markets with structurally low bed density, creating a long runway for organic and inorganic capacity addition. Its proven ability to acquire and integrate hospitals efficiently, combined with operational standardisation and a capital-efficient infrastructure model, supports sustainable scale-up without significantly elevating execution risk," the brokerage said in its note. 

Overall, Park Medi World is expected to maintain healthy business momentum as it deepens its presence across high-demand catchments while adhering to its cost-focused, accessibility-centric healthcare delivery model. 

 

"At the upper band of ₹162, the issue is valued at a P/E ratio of 25.14x, based on annualised PAT of FY26 EPS of ₹6.4. We are recommending a 'Subscribe' rating for this issue," the brokerage said.  ALSO READ | Aequs IPO listing on December 10: Here's what latest GMP indicates

SBI Securities - Neutral

According to SBI Securities, while the growth over the last three years has remained muted, the company is enhancing its capacity and expanding geographical footprints to unlock future growth potential. "When compared to its closest competitors, the issue seems reasonably priced with a superior margin and return profile; however, growth has been weaker than its competitors. Additionally, the company has high debtor days (161 days as of FY25), which is largely attributable to the higher share of business derived from government schemes," the brokerage said.

 

At the upper price band of ₹162, the issue is valued at FY25 EV/Ebitda and P/E ratio of 18.0x/32.8x, respectively, based on post-issue capital. SBI Securities has maintained a 'Neutral' view on the company and would like to monitor its performance post listing.

Park Medi World IPO GMP

According to sources tracking unofficial markets, the unlisted shares of Park Medi World were trading at ₹191, commanding a grey market premium (GMP) of ₹29 or 18 per cent on Tuesday, December 9, 2025.

Here are the key details of Park Medi World IPO: 

The three-day subscription window to bid for the Park Medi World IPO will close on Friday, December 12, 2025. The allotment of shares is expected to be finalised on Monday, December 15, 2025. The successful allottees will receive the company's shares in their respective demat accounts on Tuesday, December 16, 2025. 

 

Shares of Park Medi World will make their debut on the exchanges, NSE and BSE, tentatively on Wednesday, December 17, 2025. 

 

The company has set the price band in the range of ₹154 to ₹162, with a lot size of 92 shares. A retail investor would require a minimum investment of ₹14,904 to bid for at least one lot and in multiples thereafter.

 

Kfin Technologies is the registrar for the issue. Nuvama Wealth Management, CLSA India, DAM Capital Advisors, and Intensive Fiscal Services are the book-running lead managers.

 

As per the RHP, the company plans to utilise ₹380 crore from the net fresh issue proceeds for repayment or prepayment of outstanding borrowings availed by itself and its subsidiaries. Additionally, ₹60.5 crore will be allotted for the development of a new hospital by subsidiary - Park Medicity (NCR) and ₹27.5 crore for the purchase of medical equipment by the company and its subsidiaries - Blue Heavens and Ratangiri. The remaining funds will be used for unidentified inorganic acquisitions and general corporate purposes. 

 

Disclaimer: Views and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.