Nephrocare Health Services Limited – IPO
Nephrocare Health Services Limited – IPO Details
| IPO Date | December 10, 2025 to December 12, 2025 |
| Listing Date | December 17, 2025 |
| Face Value | ₹ 2 / Share |
| Price Band | ₹ 438 to ₹ 460 / Share |
| Lot Size | 32 Shares |
| Total Issue Size | 1,89,35,819 shares (Aggregating up to ₹871.05 Cr) |
| Fresh Issue | 76,82,717 shares (Aggregating up to ₹353.40 Cr) |
| Offer for Sale | 1,12,53,102 shares of ₹2 (Aggregating up to ₹517.64 Cr) |
| Employee Discount | ₹41.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 9,26,50,799 shares |
| Share holding post issue | 10,03,33,516 shares |
| Market Maker portion |
Nephrocare Health Services Limited Timeline (Tentative Schedule)
Nephrocare Health Services Limited IPO opens on December 10, 2025, and closes on December 12, 2025.
| IPO Open Date | December 10, 2025 |
| IPO Close Date | December 12, 2025 |
| Basis of Allotment | December 15, 2025 |
| Initiation of Refunds | December 16, 2025 |
| Credit of Shares to Demat | December 16, 2025 |
| Listing Date | December 17, 2025 |
| Cut-off time for UPI mandate confirmation | December 12, 2025 |
Nephrocare Health Services Limited IPO Lot Size
Investors can bid for a minimum of 32 shares and in multiples thereof. The following table depicts the minimum and maximum investment by individual investors (retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 32 | Rs.14,720 |
| Retail (Max) | 13 | 416 | Rs.191,360 |
| S-HNI (Min) | 14 | 448 | Rs.206,080 |
| S-HNI (Max) | 67 | 2,144 | Rs.986,240 |
| B-HNI (Min) | 68 | 2,176 | Rs.1,000,960 |
| HNI (Min) |
Nephrocare Health Services Limited IPO Promoter Holding
| Share Holding Pre Issue | 78.90% |
| Share Holding Post Issue | 71.49% |
Nephrocare Health Services Limited IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | Not more than 50% |
|
| NII (HNI) Shares Offered | Not less than 15% |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | Not less than 35% |
|
| Employee Shares Offered | |
|
| Total Shares Offered | |
Nephrocare Health Services Limited IPO Anchor Investors Details
| Bid Date | |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | |
| Anchor lock-in period end date for 50% shares (30 Days) | |
| Anchor lock-in period end date for remaining shares (90 Days) |
About Nephrocare Health Services Limited
Incorporated in 2010, Nephrocare Health Services Ltd. provides end-to-end dialysis care through a wide network of clinics across India and select international markets. The company offers services including diagnosis, haemodialysis, home and mobile dialysis, and wellness programs, supported by an in-house pharmacy.
As of Sep 30, 2025, Nephrocare operated 519 clinics, with 51 across the Philippines, Uzbekistan, and Nepal. This includes the world’s largest dialysis clinic in Uzbekistan. In India, the company had a presence across 288 cities in 21 states and 4 union territories. Approximately 77.53% of its clinics were located in tier II and tier III cities, addressing a critical need in underserved regions.
During Fiscal 2025, Nephrocare served 29,281 patients and completed 2,885,450 dialysis treatments, accounting for roughly 10% of the country's total dialysis patient base. Additionally, by Sep 30, it had served 31,046 patients and completed 1,591,377 treatments in India. As of Sep 30, 2025, the company has 5,562 dialysis machines.
Nephrocare has formed strategic partnerships with established hospital chains such as Max Super Speciality Hospital, Fortis Escorts Hospitals, Care Hospitals, Wockhardt Hospitals, Paras Healthcare, The Calcutta Medical Research Institute, Jehangir Hospital, and Ruby Hall Clinic to operate in-house dialysis centers.
Competitive strengths
- India’s and Asia’s largest dialysis chain with leadership across our markets
- Scale coupled with asset-light model driving cost efficiencies and operational excellence
- Driving clinical excellence and quality through protocols and advanced technology
- Organic growth augmented by proven track record of acquisitions and integration in India and internationally
- Patient-centric leadership and seasoned management team backed by marquee investors
- Driving sustainable dialysis leadership with environmental, social and governance measures
- Track record of sustainable growth, profitability and return
Key Performance Indicator
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 13.45% |
| ROCE | 18.67% |
| Debt/Equity | |
| RoNW | 13.19% |
| P/BV | 7.72 |
| PAT Margin (%) | 8.88% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 7.24 | 2.84 |
| P/E (x) | 63.52 | 162.19 |
Note:
- The pre-IPO EPS is calculated based on pre-IPO shareholding as of the date of the RHP and the latest FY earnings as of March 31, 2025, which is available in the RHP.
- The post-issue EPS is calculated based on the post-issue shareholding and annualized FY earnings of September 30, 2025, which is available in the RHP.
Objects of the Issue (Nephrocare Health Services Limited IPO Objectives)
Nephrocare Health Services Limited Contact Details
Nephrocare Health Services Ltd. 5 th Floor, D Block, iLabs Centre, Plot 18, Software Units Layout, Survey No. 64, Madhapur, Shaikpet, Hyderabad, Telangana, 500081 Phone: +91 40 4240 8039 Email: [email protected] Website: http://www.nephroplus.com/ |
Nephrocare Health Services Limited IPO Registrar
Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: [email protected] Website: https://ipostatus.kfintech.com/ |