Nephro Care India’s IPO sets record with over Rs. 20,000 crore in bids

New Delhi: Nephro Care India Limited has made history by becoming the first Small and Medium Enterprises (SME) to attract bids worth over Rs. 20,000 crore on the NSE Emerge platform.

The Kolkata-based healthcare provider’s Initial Public Offer (IPO), which opened on June 28 and closed on July 2, 2024, saw an overwhelming response from investors, recording a subscription rate of 715.85 times.

The IPO aimed to raise Rs. 41.26 crore and was priced at Rs. 85-90 per equity share with a face value of Rs. 10 each. The offer included a fresh issue of 45.84 lakh equity shares. The minimum lot size for the application is 1,600 Equity Shares. Corporate Capital Ventures Private Limited was the sole Book Running Lead Manager, while Bigshare Services Private Limited was the Registrar.

The Qualified Institutional Buyer (QIB) portion was subscribed 245.14 times, the High Net-worth Individual (HNI) portion 1787.56 times, and the Retail Individual Investors (RII) portion 634.12 times. The employee portion saw a subscription rate of 20.44 times, contributing to the overall robust demand.

Nephro Care India plans to utilize Rs. 26.17 crore of the IPO proceeds to establish a multi-speciality healthcare facility, Vivacity Multi Speciality Hospital, in Madhyamgaram, Kolkata, West Bengal. The remaining funds will be allocated for general corporate purposes. The new hospital will feature 100 inpatient beds, including a 30-bed Critical Care unit with ICU, HDU, RTU, and NICU facilities. It will offer a wide range of treatment services in disciplines such as cardiology, oncology, gastroenterology, gynaecology, and an advanced renal transplant unit.

NCIL’s treatment framework encompasses a comprehensive approach, addressing lifestyle, physiological, and spiritual aspects of wellness. The company operates on a ‘hub-and-spoke’ model, ensuring each clinic is independently well-equipped with skilled healthcare professionals and advanced infrastructure to meet patient needs and support their rehabilitation. Nephro Care’s diverse programs include Mukti, Home Dialysis, Home Care, and Diagnostics, reinforcing its commitment to providing holistic care solutions.

The IPO’s success marks a significant milestone for Nephro Care India Limited, positioning it for further growth and expansion in the healthcare sector. The company’s shares are set to be listed on the NSE Emerge, further enhancing its visibility and market presence.