Nephro Care India Ltd. to raise Rs 41 crore through IPO

Nephro Care India Ltd. has announced its intention to raise approximately Rs 41 crore through an initial public offering (IPO), as disclosed on Tuesday. The IPO is scheduled to commence on June 28 with a price band set between Rs 85 and Rs 90 per share, closing on July 2.

According to the statement from the Kolkata-based healthcare firm, the bidding process for anchor investors will begin on June 27 and conclude on the same day. The IPO consists of a fresh issuance of 45.84 lakh equity shares, amounting to Rs 41.26 crore at the upper end of the price range. Following the issuance, the company’s shares will be listed on the NSE Emerge platform.

The company plans to allocate Rs 26.2 crore from the IPO proceeds towards establishing a multi-speciality healthcare facility named Vivacity Multi Speciality Hospital in Madhyamgram, Kolkata, West Bengal. The remaining funds will be used for general corporate purposes.

Vivacity Multi Speciality Hospital is projected to house 100 in-patient beds, including a 30-bed critical care unit, and will provide comprehensive medical services such as cardiology, medical oncology, gastroenterology, gynaecology, and an advanced renal transplant unit—the first of its kind in East India.

In December 2023, Nephro Care India concluded a successful pre-IPO funding round with participation from notable figures including Deepak Parekh, former Chairman of HDFC Ltd.; Bharat Shah, Chairman of HDFC Securities; and Rajendra Agarwal, Founder and Managing Director of Macleods Pharmaceuticals.

Financially, for the first nine months of fiscal 2024, Nephro Care India reported a revenue of Rs 19.75 crore and a net profit of Rs 3.4 crore. Corporate Capital Ventures has been appointed as the book-running lead manager for the IPO, while Bigshare Services Pvt. Ltd. will act as the registrar for the issue. NDTV Profit