Park Medi World Limited Makes Weak Debut with 3.95% Decline, Lists at ₹155.60 Against Strong Subscription

Park Medi World Limited, incorporated in 2011 as private hospital chain operating primarily in North India with total bed capacity of 3,000 beds operating 14 multi-super specialty hospitals under Park brand all accredited by NABH with eight also NABL accredited across Haryana, Delhi, Punjab, and Rajasthan offering over 30 super specialty and specialty services including internal medicine, neurology, urology, gastroenterology, general surgery, orthopedics, and oncology, made a weak debut on BSE and NSE on December 17, 2025. After closing its IPO bidding between December 10-12, 2025, the company commenced trading with a decline of 3.95% opening at ₹155.60 and touched ₹165.75 (up 2.31%).

Park Medi World Limited Listing Details

Park Medi World launched its IPO at ₹162 per share with minimum investment of 92 shares costing ₹14,904. The IPO received strong response with subscription of 8.52 times - retail investors at 3.32 times, QIB at 12.07 times, NII at 15.93 times.

First-Day Trading Performance

Listing Price: Park Medi World opened at ₹155.60 representing decline of 3.95% from issue price of ₹162.00, touched high of ₹165.75 (up 2.31%) and low of ₹155.60 (down 3.95%), with VWAP at ₹161.58.

Growth Drivers and Challenges

Growth Drivers:

Market Leadership: Second largest chain of private hospitals in North India and largest private hospital chain in Haryana, 3,000+ beds across 14 hospitals strategically located across Haryana, Delhi, Punjab, and Rajasthan with all hospitals NABH accredited.

Strong Growth Trajectory: Revenue increased 13% and PAT surged 40% between FY24 and FY25, ROE of 20.68%, ROCE of 17.47%, RoNW of 20.08%, healthy PAT margin of 15.30%, strong EBITDA margin of 26.71% demonstrating operational efficiency.

Challenges:

Weak Listing: Opening decline of 3.95% creating immediate investor losses though stock recovered to positive territory during trading, issue appears fully priced according to analyst review despite strong operational metrics.

Financial Concerns: PAT setback in FY24 at ₹152.01 crore versus ₹228.19 crore in FY23 following new hospital acquisitions before recovery to ₹213.22 crore in FY25, debt-to-equity of 0.61, total borrowings of ₹682.07 crore, ₹380.00 crore of IPO proceeds for debt repayment indicating significant leverage.

Utilisation of IPO Proceeds

Debt Repayment: ₹380.00 crore for repayment and prepayment of outstanding borrowings by company and certain subsidiaries strengthening balance sheet and reducing interest burden.

Capacity Expansion: ₹60.50 crore for funding capital expenditure for development of new hospital and expansion of existing hospital by subsidiaries Park Medicity NCR and Blue Heavens, ₹27.46 crore for purchase of medical equipment by company and subsidiaries Blue Heavens and Ratangiri.

Strategic Growth: ₹245.32 crore for unidentified inorganic acquisitions and general corporate purposes supporting acquisition-led growth strategy and operational requirements.

Financial Performance

Revenue: ₹1,425.97 crore for FY25, growth of 13% from ₹1,263.08 crore in FY24, reflecting expanding operations across 14 hospitals with 3,000 beds serving patients through over 30 super specialty and specialty services in North India.

Net Profit: ₹213.22 crore in FY25, strong growth of 40% from ₹152.01 crore in FY24, representing recovery from FY23 level of ₹228.19 crore.

Financial Metrics: ROE of 20.68%, ROCE of 17.47%, debt-to-equity of 0.61, RoNW of 20.08%, healthy PAT margin of 15.30%, strong EBITDA margin of 26.71%, price-to-book of 6.09x, post-issue EPS of ₹6.44, P/E of 25.14x, net worth of ₹1,021.86 crore, total borrowings of ₹682.07 crore, and market capitalisation of ₹7,137.66 crore.