Park Medi World IPO subscribed 7.63 times so far on Day 3: Check allotment date and steps

Park Medi World IPO: The initial public offering of hospital chain Park Medi World has been subscribed 7.63 times so far on the final day of bidding on Friday, December 12.

It has received bids for 31,91,74,312 shares against 4,18,18,182 shares on offer, according to the NSE data until 3:50 pm.

The part reserved for non-institutional investors was subscribed 14.94 times, while the category for qualified institutional buyers was booked 10.49 times. The quota for retail individual investors was subscribed 2.87 times.

The ₹920 crore initial share sale is a mix of a fresh issuance of shares aggregating to ₹770 crore and an offer for sale of ₹150 crore by promoter Dr Ajit Gupta.

The company plans to utilise proceeds worth ₹380 crore to clear debt and ₹60.5 crore to develop a new hospital and expand the existing hospital by its subsidiaries, Park Medicity (NCR) and Blue Heavens, respectively.

Around ₹27.45 crore is kept aside for the purchase of medical equipment by the firm and its subsidiaries, Blue Heavens and Ratangiri. The remainder of funds will be used for unidentified inorganic acquisitions and general corporate purposes.

It has set a price band of ₹154 to ₹162 per share, and a lot consists of 92 shares.

Park Medi World's network of hospitals comprises 13 multi-super speciality hospitals, with eight hospitals in Haryana, three hospitals in Punjab, two hospitals in Rajasthan and one hospital in New Delhi.

Park Medi World IPO: Allotment and listing dates

Park Medi World IPO allotment is likely to be finalised on Monday, December 15. The listing on the stock exchanges will take place on Wednesday, December 17.

How to check Park Medi World IPO allotment on NSE

• Open NSE's IPO status page in your browser: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Keep the ‘Equity & SME IPO bid details’ option
• From the 'Select Symbol' list, pick ‘PARKHOSPS’
• Mention your PAN and application number
• Press the 'Submit' button

Steps to check Park Medi World IPO allotment on KFin Technologies

• Visit the registrar's bid finalisation page: https://ipostatus.kfintech.com/
• From the ‘Select IPO’ list, choose ‘Park Medi World Ltd’.
• Add Demat account number, IPO application number or PAN
• Click on ‘Submit’

Park Medi World IPO GMP

According to investorgain.com and media reports, Park Medi World's unlisted shares are trading at ₹170.5, reflecting a grey market premium of 5.25% over the upper price band of ₹162.