For investors, deciding whether the Park Medi World IPO is a good investment can be quite challenging. If you are unsure and still thinking about whether to apply or skip this IPO, don’t worry. In this article, we present the top key factors and a detailed review of the Park Medi World IPO. This will help you analyze the strengths, risks, and financial details of the Park Medi World IPO, making your investment decision better.
About Company
Park Modi is the second-largest Indian private hospital chain in India. Moreover, they have around 3,000 beds as of September 30, 2024. Moreover, they have eight hospitals in Haryana, one in New Delhi, two in Punjab, and two in Rajasthan.
The company offers more than 30 specialty and super-specialty services, which include internal medicine, neurology, urology, gastroenterology, general surgery, orthopedics, and oncology.
Moreover, as of September 30, 2024, they have a workforce of 891 doctors, 1,912 nurses, 671 medical professionals, and 1,761 support staff. Also, they have experienced and skilled team members who are one of the reasons for the company’s growth.
Strengths
- Under the brand Park, the company runs 14 NABH-accredited multi-super specialty hospitals with over 30 super specialty and specialty services.
- They are the 2nd largest private hospital chain in North India with a bed capacity of 3,000 beds.
- In FY25, the profit jumped by 40% and revenue increased by 13%.
- Over the last 3 years, the company has had positive cash flow.
- The company consists of 1000+ qualified doctors and a professional management team with 25 years of experience in the nursing home and hospital business.
Weaknesses
- The company mainly runs its business on doctors, nurses, medical staff, and support teams. The attrition rate of the company is 33.72%. If unable to keep or hire these professionals could impact the business, and the finances may suffer.
- Park Medi generates more than 70% of revenue from Haryana Facilities only.
- The company is heavily dependent on the inpatient department. If this area underperforms, it could negatively impact the company’s finances.
- We saw a drop in the bed occupancy rate by 75% to 61% which can be concerning for healthcare firms and may impact the hospital’s revenue growth.
Park Medi World IPO Review
| Reviewer | Recommendation |
| IPO Watch | May Apply |
| Axis Capital | Not Rated |
| JM Financial Services Limited (JMFS) | Not Rated |
| Swastika Investmart Ltd | Apply |
Park Medi World IPO Details
| IPO Open Date: | December 10, 2025 |
| IPO Close Date: | December 12, 2025 |
| Face Value: | ₹2 Per Equity Share |
| IPO Price Band: | ₹154 to ₹162 Per Share |
| Issue Size: | ₹920 Crores |
| Fresh Issue | ₹770 Crores |
| Offer-for-Sale | Up to 92,59,259 equity shares |
| Registrar | Kfin Technologies Ltd. |
| IPO Lead Managers | Nuvama Wealth Management Limited CLSA India Private Limited DAM Capital Advisors Limited Intensive Fiscal Services Private Limited |
| Basis of Allotment | December 15, 2025 |
| IPO Listing Date: | December 17, 2025 |
| Listing | BSE, NSE |
Financial Performance Trend Details
| Particulars | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
| Total Income | ₹823.39 crores | ₹1,425.97 crores | ₹1,263.08 crores |
| EBITDA | ₹217.14 crores | ₹372.17 crores | ₹310.30 crores |
| EBITDA Margin | 26.85% | 26.71% | 25.21% |
| Profit after Tax (PAT) | ₹139.14 crores | ₹213.22 crores | ₹152.01 crores |
| PAT Margin | 17.21% | 15.30% | 12.35% |
| Net Worth | ₹1,153.05 Crores | ₹1,021.86 Crores | ₹815.98 Crores |
| Reserve and Surplus | ₹1,187.77 Crores | ₹1,049.40 Crores | ₹858.63 Crores |
| Total Borrowings | ₹733.91 Crores | ₹682.07 Crores | ₹686.71 Crores |
Peer Comparison with the Company
| Name of the Company | Face Value (₹) | Basic EPS (₹) | Diluted EPS(₹) | RONW (%) | P/E Ratio | NAV(₹) |
| Park Medi World | 2 | 5.55 | 5.55 | 20.08% | [●] | 26.58 |
| Listed Peers | ||||||
| Apollo Hospitals Enterprise Limited | 5 | 100.56 | 100.56 | 17.63% | 73.43 | 570.37 |
| Fortis Healthcare Limited | 10 | 10.26 | 10.26 | 8.69% | 90.42 | 118.06 |
| Narayana Hrudalaya Limited | 10 | 38.90 | 38.90 | 21.80% | 50.10 | 177.37 |
| Max Healthcare Institute Limited | 10 | 11.07 | 11.01 | 11.47% | 101.54 | 96.50 |
| Krishna Institute of Medical Sciences Limited | 2 | 9.61 | 9.61 | 17.89% | 69.53 | 53.43 |
| Global Health Limited | 2 | 17.92 | 17.92 | 14.27% | 66.41 | 125.64 |
| Jupiter Lifeline Hospitals Ltd | 10 | 29.47 | 29.47 | 14.27% | 48.59 | 206.85 |
| Yatharth Hospital & Trauma Care Services Limited | 10 | 14.72 | 14.72 | 8.15% | 52.85 | 166.62 |
Key Performance Indicator
| KPI | Values |
| ROE | 20.68% |
| ROCE | 17.47% |
| RoNW | 20.08% |
| EBITDA Margin | 26.71% |
| Price to Book Value | 16.09 |
| PAT Margin | 15.30% |
| Debt/Equity | 0.61 |
Promoters & Track Records, if any
- Dr. Ajit Gupta, born on October 12, 1957, aged 68 years, is one of our Promoters and is the Chairman and Whole-Time Director of our Company. He holds 331,433,596 of Equity Shares, representing 86.22% of pre-Offer Equity share capital in the company.
- Dr. Ankit Gupta, born on January 21, 1982, aged 43 years, is one of our Promoters and is the Managing Director of our Company. He holds 35,874,165 of Equity Shares, representing 9.33% of pre-Offer Equity share capital in the company.
Industry Peer Group P/E ratio
In the healthcare & Hospitals industry, the P/E ratio for Park Medi World ranges from a low of 48.59 to a high of 101.54, with the industry composite at 69.11.
Expansion
- The proceeds raised from the fresh issue will be used towards the development of a new hospital and the expansion of the existing hospital by our certain Subsidiaries, Park Medicity (NCR) and Blue Heavens.
- A portion of the funds will be utilized towards repayment/prepayment of certain borrowings taken by the company and certain of the Subsidiaries.
- Some funds will be used for the purchase of medical equipment by the Company and certain Subsidiaries, Blue Heavens, and Ratangiri.
- Lastly, the remaining funds will be used for the general corporate purposes.
Park Medi World IPO – Should You Apply or Not?
Park Medi World IPO features diversified healthcare services, steady revenue growth, appealing valuation, growing financial performance, and sector tailwinds that promote future growth. On the other hand, dependence on inpatient services, high attrition rate, Limited geographic presence, and competitive industry pressures remain key concerns.
As of December 9th, the GMP of Park Medi World is ₹29, indicating a listing gain of around 16% to 18%. Short-term investors may apply for the IPO for listing gains after evaluating Grey Market Premium (GMP) trends and strong brand recall. Whereas Long-term investors must analyze the risks, limited geographic concentration, and drop in bed occupancy rate before investing their money in it.
Please note:
Investors are advised to make their own decisions and apply entirely at their own risk. This article is written using information from the company’s RHP (Red Herring Prospectus) data and online sources. If you have any queries, kindly contact the IPO Watch Team.
