Park Medi World Sets Stage for Rs 1,260 Crore IPO Debut

Park Medi World plans to raise Rs 1,260 crore via an IPO, with fresh shares worth Rs 900 crore and Rs 300 crore from an OFS by Ajit Gupta. Funds will be used for debt payment, new hospital development, and capital expenditure. The company operates 13 hospitals across North India.

Park Medi World, a leading private hospital chain, is gearing up for a significant financial move by filing papers with the market regulator Sebi to launch an Initial Public Offering (IPO) worth Rs 1,260 crore.

The IPO will feature a fresh issuance of shares valued at Rs 900 crore and an offer for sale (OFS) of Rs 300 crore by promoter Ajit Gupta, as detailed in the draft red herring prospectus submitted on Friday.

Proceeds will address debt obligations and fund new hospital developments and expansions across its network, which currently spans 13 multi-specialty hospitals in North India.

(With inputs from agencies.)