Nephrocare Health Services IPO Receives Muted Response
The initial public offering (IPO) of dialysis services provider Nephrocare Health Services got off to a slow start on its first day of bidding, with the issue being booked just 0.13 times. This means that only 13% of the available shares were subscribed for by investors.
Investor Response
Among different types of investors, the employee quota was subscribed 0.59 times, while retail investors subscribed 0.21 times. Non-institutional investors booked only 0.10 times, and qualified institutional investors have not yet started bidding.
Anchors Investors
Before the IPO launch, Nephrocare Health secured ₹260 crore from prominent anchor investors, including SBI Mutual Fund, ICICI Prudential MF, Fidelity Funds, and HDFC Life Insurance, among others.
IPO Details
The company aims to raise ₹871.05 crore from the issue, with a price band of ₹438-₹460 per share. The lot size is 32 shares, requiring a minimum investment of ₹14,720 for retail investors. The IPO is expected to list on both the NSE and BSE on December 17.
- IPO Size: ₹871.05 crore
- Fresh Issue: ₹353.40 crore
- Offer for Sale: ₹517.64 crore
- Reservation: 75% for QIBs, 15% for NIIs, and 10% for Retail Investors
Use of Proceeds
The funds raised from the IPO will be used to set up new dialysis clinics in India, repay debt, and for general corporate purposes.
Nephrocare Health Services is a leading dialysis services provider in India, offering comprehensive care through its network of clinics. In FY25, the company served 29,281 patients and completed 2,885,450 treatments, representing 10% of the total dialysis patients in India.
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