Nephrocare Health Services IPO: Dialysis Care Provider’s Public Issue Sees Muted Demand On Day 1 Of Subscription

The initial public offering (IPO) of Nephrocare Health Services opened for bidding on December 10, 2025. The dialysis care provider’s public issue is witnessing muted demand on the first day of subscription.

The subscription window for Nephrocare Health IPO is scheduled to close on December 12. Here’s a look at some of the key details related to the public issue.

Nephrocare Health IPO Subscription

On the first day of subscription, Nephrocare Health IPO has been booked 7 per cent across categories. So far, investors have placed bids for 973,184 shares compared to the 13.38 million shares offered for subscription. Non-institutional investors (NIIs) have applied for 122,464 shares compared to the 2.88 million shares set aside for the category, booking 4 per cent of their quota in the IPO.

Retail individual investors have booked their quota in the issue 12 per cent by placing bids for 826,080 shares compared to the 6.73 million shares offered for subscription. So far, qualified institutional buyers (QIBs) have placed no bids for the public issue. However, the company has set aside 3.67 million shares for the category. Employees of the company have applied for 24,640 shares compared to the 88,161 shares set aside for the category, booking the issue 28 per cent.

Nephrocare Health IPO GMP

Nephrocare Health Services shares are commanding no grey market premium (GMP), according to multiple websites which track the demand for shares of unlisted companies. Based on today’s GMP trends, the stock is expected to list flat at Rs 460 per share.

Nephrocare Health IPO: Offer Size and Price Band

Nephrocare Health IPO offer size aggregates to Rs 871.05 crore and consists of a fresh issuance of 7.70 million shares aggregating to Rs 353.40 crore and an offer for sale (OFS) of 11.30 million shares aggregating to Rs 517.64 crore.

The price band has been fixed at Rs 438-460 per share. The minimum lot size to apply for the Nephrocare Health IPO for retail investors has been set at one lot consisting of 32 shares aggregating to a minimum investment of Rs 14,720.

Nephrocare Health IPO: Allotment Date and Listing Date

The basis of allotment for Nephrocare Health IPO is expected to be determined on December 15, with successful bidders receiving the shares in their demat accounts on December 16. Nephrocare Health shares are slated to list on the BSE and the NSE on December 17.

Nephrocare Health: Key Financials

Nephrocare Health Services’ total income for the September quarter of FY26 stood at Rs 483.97 crore, the company’s profit after tax (PAT) stood at Rs 14.23 crore, and the company’s net worth stood at Rs 716.06 crore.

Nephrocare Health’s total income increased by over 33 per cent to Rs 769.92 crore in the financial year ended March 31, 2025, compared to Rs 574.72 crore in the preceding fiscal. The company’s profit after tax (PAT) for FY 2024-25 stood at Rs 67.1 crore, up by 91 per cent compared to a net profit of Rs 35.13 crore in FY 2023-24.

Nephrocare Health IPO: Anchor Investors

Nephrocare Health Services raised Rs 260 crore in its anchor investor round on December 9. The anchor-issue saw participation from SBI Mutual Fund, ICICI Prudential Mutual Fund, Fidelity Funds, DSP Mutual Fund, Bandhan Mutual Fund, The Prudential Assurance Company, Eastspring Investments, Polar Capital Funds, Baroda BNP Paribas Mutual Fund, SBI Life Insurance and HDFC Life Insurance. The company allotted 5.658 million shares to 14 entities at Rs 460 per share.

Nephrocare Health: Promoters

The promoters of Nephrocare Health Services include Vikram Vuppala, Bessemer Venture Partners Trust, Edoras Investment Holdings Pte, Healthcare Parent, Investcorp Private Equity Fund II and Investcorp Growth Opportunity Fund. The shareholding of the promoters will decline to 71.49 per cent post the conclusion of the issue. Before the issue, the promoters held 71.49 per cent stake in the company.

Nephrocare Health IPO: Objective

Nephrocare Health plans to use the money raised through the public issue for opening new dialysis clinics in India, repaying or prepaying its borrowings, and for general corporate purposes.

About Nephrocare Health Services

Nephrocare Health Services is a provider of dialysis and renal care services. The company mainly operates in India with an international presence in the Philippines, Nepal, and Uzbekistan. The company offers services through its brand Nephroplus. Its services include in-centre haemodialysis, home-based dialysis solution, and mobile dialysis. The company generates revenue through the fee charged for dialysis treatments at its clinics.