Park Medi World Ltd IPO

The IPO opens on 10 Dec 2025 & closes on 12 Dec 2025.

Park Medi World Ltd IPO will close on 12 Dec 2025.

<ul><li>Second largest chain of private hospitals in North India and largest private hospital chain in Haryana. </li><li>Delivering high-quality and affordable healthcare with a diverse specialty mix.</li><li>Track record of successfully acquiring and integrating hospitals.</li><li>Strong operational and financial performance with diversified payor mix.</li><li>Doctor led professional management team with industry experience.</li></ul>

<table class="table"> <thead> <tr> <th>S.No</th> <th>Promoters Name</th> <th>Pre Issue Shares</th> <th>Pre Issue Percentage</th> <th>Post Issue Shares</th> <th>Post Issue Percentage</th> </tr> </thead> <tbody> <tr> <td>1</td> <td>Ajit Gupta</td> <td>---</td> <td>---</td> <td>---</td> <td>---</td> </tr> <tr> <td>2</td> <td>Ankit Gupta</td> <td>---</td> <td>---</td> <td>---</td> <td>---</td> </tr> </tbody> </table>

<ul><li>We are highly dependent on doctors, nurses, medical professionals and support staff. If we are unable to retain or attract such professionals, our business, results of operations and financial condition may be adversely affected.</li><li>A significant portion of our revenue from operations is derived from our hospitals located in Haryana, which comprised 74.62%, 76.92%, 83.91% and 84.98% of our revenue from operations in the six months ended September 30, 2024 and Fiscals 2024, 2023 and 2022, respectively. Any adverse developments at these hospitals or in this state could have an adverse effect on our business, results of operations and financial condition.</li><li>The nature of our business involves certain high costs including our cost of materials purchased, employee benefit expenses and professional and consultancy fees, and a failure to pass on such costs to patients could adversely affect our business, results of operations and financial condition.</li><li>We may not be able to complete or achieve the expected benefits from current or future acquisitions or successfully integrate new hospitals with our network, which could adversely affect our business and prospects.</li><li>We may not be successful in developing our proposed hospitals and may not achieve operating capacities that we anticipate, any of which could adversely affect our business, results of operations, financial condition and prospects.</li><li>Our arrangements with certain of our doctors are on a consultancy basis. If such doctors discontinue their association with us or are unable to provide their services at our hospitals, our business and results of operations may be adversely affected. </li><li>Certain of our Subsidiaries have experienced losses during the six months ended September 30, 2024 and the last three Fiscals. We cannot guarantee that these Subsidiaries will generate profits or avoid losses in the future. </li><li>We generate a significant portion of our revenues from certain key specialties such as internal medicine, neurology, urology, gastroenterology, cardiology, general surgery and orthopedics, which together contributed 92.17%, 92.87%, 92.42% and 90.39% of our revenue from operations for the six months ended September 30, 2024 and Fiscals 2024, 2023 and 2022, respectively. Any adverse developments in the demand or income from such specialties may adversely affect our business, results of operations and financial condition.</li><li>We are dependent on revenue generated from our in-patient department. If we are unable to maintain or increase our hospital occupancy rates at sufficient levels and generate adequate returns on our capital expenditure, our operating efficiencies and profitability may be adversely affected.</li><li>A significant portion of our revenue is derived from payments made by government agencies and insurance providers under various healthcare schemes. Delays in receiving payments or the rejection of claims raised by us could adversely impact our business, results of operations, financial condition and cash flows.</li><li>Our Company, Subsidiaries, Promoters, Directors, Key Managerial Personnel and members of Senior Management are involved in certain legal and regulatory proceedings. Any adverse decision in such proceedings may have an adverse effect on our business, financial condition, cash flows and results of operations.</li><li>We have been and may in the future be subject to various operational, reputational, medical and legal claims or other actions arising from the prevision of healthcare services and may be subject to liabilities arising from claims of medical negligence which could have a material adverse impact on our business, cashflows and results of operations.</li><li>We operate in a highly regulated industry and any non-compliance with applicable safety, health and allied governmental regulations may adversely affect our business, results of operations and financial condition.</li><li>Any failure to obtain or renew approvals, licenses, registrations and permits required to operate our business in a timely manner, or any failure to maintain certain accreditations, may adversely affect our business, results of operations and financial condition.</li><li>We are required to provide performance guarantees to government authorities in accordance with their standard contractual terms for empanelment of their customers. In the event such guarantees are invoked, our business and cash flows may be adversely affected.</li><li>Two of our hospitals are located on leased premises and one of our hospitals is operated on a revenue share basis pursuant to operations and management agreements. An adverse development in our relationships with the relevant counterparties could affect our ability to operate these hospitals.</li><li>Our funding requirements and proposed deployment of Net Proceeds of the Offer are based on management estimates and have not been independently appraised by a bank or a financial institution and if there are any delays or cost overruns, our business, financial condition and results of operations may be adversely affected.</li><li>We have not entered into any definitive arrangements to utilize certain portions of the Net Proceeds of the Offer and the costs to be incurred in relation to such Objects are based on the quotations received from the vendors. </li><li>Our business depends on the strength of our 'Park' brand and reputation and any negative publicity or allegations including in the media against us, may adversely affect the level of trust in our services and have an adverse effect on our business, financial condition, results of operations and prospects.</li><li>We have engaged third party service providers to provide certain services in our hospitals. If these arrangements are terminated, our business, cash flows and operations may be adversely affected.</li><li>We rely on our information technology systems for the operation of our business and to protect our patients' personal information, and any disruption to our systems, or failure to protect such confidential information, could adversely affect our business and reputation and result in litigation.</li><li>We have availed certain borrowings from banks and financial institutions and are subject to certain covenants under their respective financing agreements. In the event that we are unable to comply with such covenants, our business, results of operations, cash flows and financial conditions may be adversely affected.</li><li>Any downgrade in our credit ratings could increase borrowing costs, which could in turn adversely affect our borrowing cost, our business, results of operations, financial condition and cash flows. </li><li>Our Company has availed an unsecured loan which may be recalled at any time.</li><li>We have been delayed in paying certain statutory dues in the past. Any failure or delay in payment of such statutory dues in the future may expose us to statutory and regulatory action, as well as significant penalties, and may adversely affect our business, results of operations, cash flows and financial condition.</li><li>An inability to continually enhance our offerings with new technology and medical equipment may lead to a decline in demand for our services and adversely affect our business and prospects.</li><li>We rely on third party vendors for certain of our supplies and equipment and the provision of certain services at our hospitals. Failure to procure such supplies and equipment or obtain such services from third parties on a timely basis, or failure of such third parties to meet their obligations to us, could adversely affect our business, results of operations and cash flows.</li><li>Regulatory reforms in the healthcare industry and the uncertainty associated with pharmaceutical pricing including any regulation to provide uniform pricing and discounted pricing for all patients could adversely affect our business, results of operations and financial condition.</li><li>Our advertisement and business promotion expenses represented 1.25%, 0.64%, 0.83% and 0.75% of our total expenses in the six months ended September 30, 2024 and Fiscals 2024, 2023 and 2022, respectively. If we fail to maintain and improve our brand and reputation, our business, results of operations and prospects may be adversely affected.</li><li>We have certain contingent liabilities that have been disclosed in our financial statements, which if materialize, may adversely affect our results of operations, cash flows and financial condition. </li><li>Any failure to protect our intellectual property rights could adversely affect our competitive position, business, financial condition and results of operation. </li><li>If we are unable to recruit and retain senior management, qualified and skilled personnel, our business and our ability to operate or grow our business may be adversely affected.</li><li>We face competition from other hospitals, pharmacies, diagnostic chains and healthcare services providers and our inability to compete effectively may adversely affect our business, results of operations and financial condition.</li><li>We may face challenges in launching new specialties or clinical programs at our hospitals, which could adversely affect our business and prospects. </li><li>The number of operational beds in our hospitals is lower than our total bed capacity. We cannot assure you that we will be able to increase the number of operational beds to effectively utilize our total bed capacity. </li><li>Our Statutory Auditors have included certain matters of emphasis in the notes to the Restated Consolidated Financial Information.</li><li>While we do not have any obligations to subsidize our services, any imposition by state governments to provide healthcare at subsidized prices may adversely affect our business and results of operations.</li><li>Our hospitals are susceptible to risks arising on account of fire, natural disasters such as floods or other incidents and man made incidents such as law and order situations.</li><li>Failure or malfunction of our medical or other equipment, could adversely affect our ability to conduct our operations. </li><li>Employee misconduct or failure to establish and maintain an effective internal controls and compliance system, our business and reputation could be adversely affected.</li><li>We may be subject to labour unrest, slowdowns and work stoppages, which could affect our business and reputation.</li><li>An inability to maintain sufficient insurance coverage to cover material risks may adversely affect our business and operations.</li><li>We have entered into related party transactions in the past and may continue to do so in the future, which may potentially involve conflicts of interest with other shareholders.</li><li>Our Promoters will continue to retain control over our Company after completion of the Offer, which will allow them to influence the outcome of matters submitted for approval of our shareholders. </li><li>Any variation in the utilization of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval. While our Company will receive proceeds from the Fresh Issue, it will not receive any proceeds from the Offer for Sale.</li><li>Industry information included in this Draft Red Herring Prospectus has been derived from an industry report commissioned by us, and paid for by us for such a purpose.</li><li>The emergence and effects related to a pandemic, epidemic or outbreak of an infectious disease could adversely affect our operations.</li><li>Our quarterly results may fluctuate for a variety of reasons and may not fully reflect the underlying performance of our business.</li><li>Our ability to pay dividends in the future will depend on our earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of our financing arrangements.</li><li>Certain of our Promoters, Directors, and Key Managerial Personnel may be interested in our Company and our Subsidiaries other than in terms of remuneration, perquisites or benefits and reimbursement of expenses.</li></ul>

The Issue type of Park Medi World Ltd is Book Building.

The minimum application for shares of Park Medi World Ltd is 92.

The total shares issue of Park Medi World Ltd is 0.

Initial public offer of up to [*] equity shares of face value of Rs. 2/- each ("Equity Shares") of Park Medi World Limited ("Company") for cash at a price of Rs. [*] per equity share (including a share premium of Rs. [*] per equity share) ("Offer Price") aggregating up to Rs. 920.00 crores comprising a fresh issue of up to [*] equity shares of face value of Rs. 2/- each aggregating up to Rs. 770.00 crores by the company ("Fresh Issue") and an offer for sale of up to [*] equity shares of face value of Rs. 2/- each aggregating up to Rs. 150.00 crores ("Offered Shares") by Ajit Gupta ("the Promoter Selling Shareholder") ("Offer for Sale", and together with the fresh issue, the "Offer"). The company, in consultation with the brlms, may consider an issue of specified securities, as may be permitted under applicable law, aggregating up to Rs. 192.00 crores prior to filing of the ("pre-ipo placement"). The pre-ipo placement, if undertaken, will be at a price to be decided by the company, in consultation with the brlms. if the pre-ipo placement is completed, the amount raised pursuant to the pre-ipo placement will be reduced from the fresh issue, subject to compliance with Rule 19(2)(b) of the securities contracts (Regulation) Rules, 1957, as amended. The pre-ipo placement, if undertaken, shall not exceed 20 % of the size of the fresh issue. Prior to the completion of the offer, the company shall appropriately intimate the subscribers to the pre-ipo placement, prior to allotment pursuant to the pre-ipo placement, that there is no guarantee that the company may proceed with the offer or the offer may be successful and will result into listing of the equity shares on the stock exchanges. Further, relevant disclosures in relation to such intimation to the subscribers to the pre-ipo placement (if Undertaken). The face value of equity shares is Rs. 2/- each. The offer price is [*] times the face value of the equity shares. Price Band: Rs. 154 to Rs. 162 per equity share of face value of Rs. 2 each. The floor price is 77 times of the face value and the cap price is 81 times of the face value of the equity shares. Bids can be made for a minimum of 92 equity shares and in multiples of 92 equity shares thereafter.