Park Medi World Ltd.’s initial public offer was undersubscribed on its first day on Wednesday. The IPO is a book-building issue worth Rs 920 crore. It comprises a fresh issue of 4.75 crore shares, valued at Rs 770 crore, and an OFS portion of 93 lakh shares, amounting to Rs 150 crore.
Retail investors can participate in the IPO subscription by bidding for at least a single lot size of 92 shares, amounting to a minimum investment of Rs 14,904.
The price band for the IPO has been set at Rs 154 to Rs 162 per share.
Park Medi World is the second-largest private hospital chain in North India by bed capacity, according to its website. It runs 13 multi-super speciality hospitals in North India under the “Park” brand, with a total of 3,000 beds.
Park Hospitals are located in Ambala, Gurugram, Karnal, Panipat, Palam Vihar, Sonipat, Faridabad (Haryana), Delhi, Patiala and Mohali (Punjab), and Jaipur and Behror (Rajasthan).
The company will utilise Rs 380 crore from the fresh issue for repayment of debt, and the rest for capital expenditure for development of new hospital and expansion of existing hospital.
The share allotment status is expected to be finalised on Dec. 15. The Park Medi World stock will list on the BSE and NSE on Dec. 17.
