Nephrocare Health IPO

Nephrocare Health IPO is a book-built issue worth Rs 871.05 crores, comprising a fresh issue of Rs 353.40 crores and an Offer for Sale of Rs 517.64 crores. The IPO opens on December 10, 2025, and closes on December 12, 2025, with allotment expected on December 15, 2025, and listing on BSE and NSE scheduled for December 17, 2025. The price band is Rs 438–460 per share, and the lot size is 32 shares, requiring a minimum retail investment of Rs 14,720. The sNII investment stands at Rs 2,06,080, while bNII investment totals Rs 10,00,960. ICICI Securities Ltd. is the lead manager.

Nephrocare Health IPO Details

Check out the issue details for Nephrocare Health IPO as disclosed in SEBI.

IPO Price

₹ 460

Price Band

₹ 438 - 460

Issue Size

871.05 Cr.

Issue Type

Book Built

Open

2025-12-10

Close

2025-12-12

Listingprice

₹ 490

ListingGain

6.52%

Listing Date

2025-12-17

CMP

₹ 468.7

Current Return

1.89%

Nephrocare Health News

Nephrocare Health Services lists at 7% premium on the BSE17 Dec 2025, 10:43AM Nephrocare Health coming with IPO to raise upto Rs 889.18 crore8 Dec 2025, 2:36PM

Company Financials

You can get the following financial statements of Nephrocare Health as of now.

Company Name

Nephrocare Health

Exchange

NSE: NEPHROPLUS BSE: 544647

  Profit Loss
  Balance Sheet
  Quarterly
  Shareholding
  Cash Flow

Nephrocare Health IPO Details

The details about the Nephrocare Health IPO are as follows:

  • The issue size of the IPO is Rs 871.05 Cr.
  • The price band for Nephrocare Health IPO is Rs 438 to Rs 460.
  • The shares of Nephrocare Health IPO will list on BSE and NSE.
  • The latest tentative GMP of Nephrocare Health IPO is Rs 20.
  • The shares of Nephrocare Health IPO are subscribed 14.08 Times.

 

Nephrocare Health IPO Valuation

The approximate valuation of Nephrocare Health IPO based on its price band and RHP is:

Particulars Value
Upper Price Band Rs 460
Existing Shares (Qty) 9.26 Cr
Fresh Issue Rs 353.40 Cr
Market Cap Rs 4,613 Cr
EPS (FY25) Rs 8.28
PE Ratio 55.55x
Industry PE 75.38x

 

Nephrocare Health IPO Issue Size

Nephrocare Health IPO issue size is Rs 871.05 Cr.

Issue Amount
Fresh Issue Rs 353.40 Cr
Offer For Sale Rs 517.64 Cr

 

Nephrocare Health IPO Market Lot

An individual can apply for a minimum of 1 lot of 32 shares and a maximum of 13 lots (416 shares). Find the details below:

Application Lot Shares Amount
Retail Minimum 1 32 Rs 14,720
Retail Maximum 13 416 Rs 1,91,360

 

Nephrocare Health IPO Share Offer

The shares of Nephrocare Health IPO are subscribed 14.08 Times. The category-wise shares offered are as follows:

Category % Offered
Qualified Institutional Not more than 50%
Non-Institutional Not less than 15%
Retail Individual Not less than 35%

 

Nephrocare Health IPO GMP (Grey Market Premium)

As on GMP (Tentative)
11 December 2025 Rs 20

Nephrocare Health IPO GMP is purely for informational purposes. Invest in an IPO after thoroughly researching on your own.

Nephrocare Health IPO Dates

Find below the dates for Nephrocare Health IPO

Schedule Date
Basis of Allotment 15 Dec 2025
Refunds 16 Dec 2025
Credit to Demat Account 16 Dec 2025
IPO Listing Date 17 Dec 2025

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2023 Mar 2024 Mar 2025
Net Sales 386.11 436.23 543.6
Total Expenditure 348.15 384.27 448.71
Operating Profit 37.97 51.96 94.88
Other Income 5.09 7.8 15.63
Interest 15.03 16.82 14.3
Depreciation 40.91 42.73 50.86
Exceptional Items 0 0 0
Profit Before Tax -12.88 0.22 45.36
Provision for Tax 2.59 -3.67 11.12
Net Profit -15.47 3.88 34.24
Adjusted EPS (Rs.) -1.78 0.44 3.88

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2023 Mar 2024 Mar 2025
Equity and Liabilities
Share Capital 5.14 5.14 5.43
Total Reserves 391.51 399.07 536.58
Borrowings 81.48 63.95 45.9
Other N/C liabilities -5.35 -9.37 -4.18
Current liabilities 156.85 185.03 154.9
Total Liabilities 629.63 643.83 738.63
Assets
Net Block 168.51 218.64 233.97
Capital WIP 0.44 0.69 4.3
Intangible WIP 2.19 0 0
Investments 147.93 148.57 161.6
Loans & Advances 9.32 15.75 6.32
Other N/C Assets 18.65 3.63 1.18
Current Assets 282.59 256.55 331.25
Total Assets 629.63 643.83 738.63
* Other Non-current Liabilities include Net deferred Liabilities

Share Holding Pattern

Promoter Pledging %

Date Promoter % Pledge %
Dec 2025 63.85 0
* Figures given above are % of equity capital

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2023 Mar 2024 Mar 2025
Profit from operations -12.88 0.22 45.36
Adjustment 57.45 64 60.86
Changes in Assets & Liabilities -37.38 -1.66 -29.92
Tax Paid 3.95 -5.81 3.43
Operating Cash Flow 11.14 56.75 79.73
Investing Cash Flow -74.71 -22.67 -103.52
Financing Cash Flow 63.39 -35.54 26.02
Net Cash Flow -0.18 -1.46 2.23

Nephrocare Health IPO: Date, Price Band, & Company Details

Nephrocare Health Services (trading as NephroPlus), India's largest dialysis service provider, has launched its Initial Public Offering (IPO) on December 10, 2025. The public issue, which closes on December 12, 2025, aims to raise approximately Rs 871.05 crore through a combination of a fresh issue of shares and an Offer for Sale (OFS).

About Nephrocare Health Services (NephroPlus)

Founded in 2009, Nephrocare Health Services is the leading provider of comprehensive dialysis services in India. Operating under the brand "NephroPlus," the company has built a dominant presence in the kidney care ecosystem, focusing on quality, affordability, and accessibility.

Key Business Highlights

Market Leadership: NephroPlus is the largest network of dialysis centers in India, providing life-saving care to thousands of patients suffering from kidney failure.

Operational Model: The company primarily operates on an asset-light model, partnering with major hospitals to run dialysis centers within their premises. Key partners include Max Healthcare, Fortis, Care Hospitals, and Wockhardt.

Extensive Network: It has a robust network of clinics across India and select international markets, making it a significant player in the global healthcare landscape.

Financial Growth: The company has demonstrated strong financial performance, with total income rising from Rs 443.26 crore in FY23 to Rs 769.92 crore in FY25. Total assets have also grown consistently, reaching Rs 1,193.68 crore by September 2025.

Nephrocare Health IPO Details (2025)

  • IPO Open Date: December 10, 2025

  • IPO Close Date: December 12, 2025

  • Listing Date: December 17, 2025 (Tentative)

  • Price Band: Rs 438 – Rs 460 per share

  • Issue Size: Rs 871.05 crore

  • Fresh Issue: Rs 353.40 crore (approx. 0.77 crore shares)

  • Offer for Sale (OFS): Rs 517.64 crore (approx. 1.13 crore shares)

  • Lot Size: 32 Shares

  • Minimum Investment (Retail): Rs 14,720 (at the upper price band)

  • Face Value: Rs 2 per share

IPO Structure & Utilisation

Offer for Sale: The OFS component allows existing shareholders to divest a portion of their holdings, aggregating up to Rs 517.64 crore.

Use of Proceeds (Fresh Issue):

  • New Clinics: Rs 129.11 crore for capital expenditure to open new dialysis clinics across India.

  • Debt Repayment: Rs 136.00 crore for prepayment or scheduled repayment of certain borrowings.

  • General Corporate Purposes: Remaining funds.

Reservation:

  • Retail Investors: Not less than 35%

  • NIIs: Not less than 15%

  • QIBs: Not more than 50%

Key Dates & Timeline

  • Anchor Investor Bidding: December 9, 2025

  • IPO Opening: December 10, 2025

  • IPO Closing: December 12, 2025

  • Basis of Allotment: December 15, 2025

  • Initiation of Refunds: December 16, 2025

  • Credit of Shares to Demat: December 16, 2025

  • Listing on BSE & NSE: December 17, 2025

Frequently Asked Questions (FAQs)

Q1: When is the Nephrocare Health IPO scheduled to open?
The IPO opened for subscription on December 10, 2025, and will close on December 12, 2025.

Q2: What is the price band for the IPO?
The price band has been set at Rs 438 to Rs 460 per share.

Q3: What is the minimum investment for retail investors?
Retail investors can bid for a minimum of 1 lot (32 shares), which amounts to Rs 14,720 at the upper price band.

Q4: How will the IPO proceeds be used?
The fresh issue proceeds will be used to open new dialysis clinics, repay debt, and for general corporate purposes.

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