Park Medi World’s public issue entered the final day of bidding and the issue is now fully subscribed on Day 3. The bidding is still underway on the final day. Let’s take a look at key factors of the issue –
Park Medi World IPO: Subscription status
By the third day, the overall subscription reached 3.29 times so far (2 pm). Retail investors continued to drive most of the activity, submitting bids worth 2.39 times their allotted quota. Non-Institutional Investors followed with 6.94 times subscription, while the Qualified Institutional Buyers portion subscribed 2.12 times.
Park Medi World IPO: What the IPO structure looks like
The offer combines a fresh issue worth Rs 770 crore and an offer for sale of Rs 150 crore. The price band has been set at Rs 154-162 per share, and one lot consists of 92 shares.
Park Medi World IPO: Where Park Medi World plans to use the raised capital
The company has outlined a multi-layered plan for the fresh funds. Around Rs 380 crore is proposed to be used to repay existing borrowings. Another Rs 60.5 crore will go towards setting up a new hospital under Park Medicity (NCR) and expanding an existing facility operated by subsidiary Blue Heavens.
A separate Rs 27.45 crore has been placed for purchasing medical equipment for Park Medi World and its subsidiaries, including Ratangiri. The remaining funds are reserved for potential acquisitions and general corporate needs.
Park Medi World IPO: Key dates – Allotment and listing schedule
The IPO allotment is expected to be finalised on Monday, December 15. Those allotted shares will then see their holdings list on the stock exchanges on Wednesday, December 17, according to the timeline available.
Park Medi World IPO: Grey Market Premium trend
The grey market premium (GMP) for Park Medi World’s shares is currently hovering around Rs 170.5, according to market observers. This indicates a premium of about 5.25% over the upper end of the price band.
It is important to note that GMP is an unofficial indicator and tends to fluctuate.
Park Medi World IPO: Key players of the issue
The IPO is being managed by Nuvama Wealth Management, CLSA India, DAM Capital Advisors and Intensive Fiscal Services.