Park Medi World Files IPO Documents with SEBI; Aims to Raise ₹1,260 Crore
Park Medi World, a hospital chain operating under the Park brand, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company plans to launch an Initial Public Offering (IPO) to raise ₹1,260 crore.
IPO Structure
The IPO will comprise two main components:
- A fresh issue of ₹900 crore
- An Offer For Sale (OFS) of ₹300 crore by promoter Ajit Gupta.
The company has indicated a potential pre-IPO placement of up to ₹192 crore. If this placement proceeds, the size of the fresh issue will be reduced proportionally.
Use of Proceeds
The company has outlined the following uses for the funds raised through the IPO:
1. Debt Repayment: Approximately ₹410 crore will be used to repay debt.
2. Hospital Expansion: ₹110 crore will be allocated to establishing new hospitals and expanding existing ones through subsidiaries Park Medicity (NCR) and Blue Heavens.
3. Medical Equipment Purchase: ₹77.19 crore will be used to acquire modern medical equipment by Park Medi World and its subsidiaries Blue Heavens and Ratangiri.
4. Other Expenses: The remaining amount will be used for inorganic acquisitions and general corporate purposes.
Park Medi World Emerges as Second Largest Private Hospital Chain in North India
According to a Crisil report, Park Medi World has become the second largest private hospital chain in North India. As of September 30, 2024, the company had a capacity of 3,000 beds. Notably, it is the largest private hospital chain in Haryana, with 1,600 beds.
Locations of Park Medi World Hospitals
The company operates 13 multi-super specialty hospitals, all equipped with state-of-the-art medical facilities. Park Medi World hospitals are located in the following cities:
Delhi-NCR: New Delhi, Gurugram, Palam Vihar
Haryana: Ambala, Karnal, Panipat, Sonipat, Faridabad
Rajasthan: Jaipur, Behror
Punjab: Patiala, Mohali
Advanced Medical Infrastructure
- 3,000 beds, including 805 ICU beds.
- 63 operation theaters and two cancer units.
