IPO Details
| IPO Date | Wed, Dec 10, 2025 to Fri, Dec 12, 2025 |
| Listing Date | Wed, Dec 17, 2025 |
| Face Value | ₹ 2 per share |
| Price Band | ₹438 to ₹460 |
| Issue Price | ₹460 per share |
| Lot Size | 32 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹ 41.00 |
| Total Issue Size | 1,89,43,264 shares (aggregating up to ₹ 871.39 Cr) |
| Fresh Issue | 76,90,162 shares (aggregating up to ₹ 353.75 Cr) |
| Offer for Sale | 1,12,53,102 shares of ₹ 2 (aggregating up to ₹ 517.64 Cr) |
| Share Holding Pre Issue | 9,26,50,799 shares |
| Share Holding Post Issue | 10,03,40,961 shares |
| BSE Script Code / NSE Symbol | 544647 / NEPHROPLUS |
| ISIN | INE428V01029 |
IPO Subscription Details
| Anchor Investors | 1 |
| QIB (Ex Anchor) | 26.82 |
| Non-Institutional Buyers | 24.77 |
| bNII (bids above ₹10L) | 30.43 |
| sNII (bids below ₹10L) | 13.46 |
| Retail Investors | 2.36 |
| Employees | 2.81 |
| Total ** | 14.08 |
IPO Important Dates
| IPO Open Date | Wed, Dec 10, 2025 |
| IPO Close Date | Fri, Dec 12, 2025 |
| Tentative Allotment | Mon, Dec 15, 2025 |
| Initiation of Refunds | Tue, Dec 16, 2025 |
| Credit of Shares to Demat | Tue, Dec 16, 2025 |
| Tentative Listing Date | Wed, Dec 17, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Dec 12, 2025 |
IPO Lot Size
| Retail (Min) | 1 | 32 | ₹14,720 |
| Retail (Max) | 13 | 416 | ₹1,91,360 |
| S-HNI (Min) | 14 | 448 | ₹2,06,080 |
| S-HNI (Max) | 67 | 2,144 | ₹9,86,240 |
| B-HNI (Min) | 68 | 2,176 | ₹10,00,960 |
Financial Information
| Assets | 1,193.68 | 996.46 | 806.02 | 666.23 |
| Total Income | 483.97 | 769.92 | 574.72 | 443.26 |
| Profit After Tax | 14.23 | 67.10 | 35.13 | -11.79 |
| EBITDA | 110.31 | 166.64 | 99.66 | 48.60 |
| NET Worth | 716.06 | 594.21 | 423.55 | 384.73 |
| Reserves and Surplus | 704.14 | 578.68 | 408.57 | 383.50 |
| Total Borrowing | 207.04 | 225.80 | 243.37 | 196.21 |
Key Performance Indicator
| ROE | 13.45% |
| ROCE | 18.67% |
| RoNW | 13.19% |
| PAT Margin | 8.88% |
| EBITDA Margin | 22.05% |
| Price to Book Value | 7.72 |
Peers Comparison
| Nephrocare Health Services Ltd. | 8.28 | 8.01 | 59.56 | | 13.19 | |
| Narayana Health | 38.90 | 38.90 | 160.35 | 45.21 | 21.77 | 10.99 |
| Jupiter Life Line Hospitals | 29.47 | 29.47 | 192.55 | 51.10 | 14.27 | 7.84 |
| Rainbow Children Hospital | 23.97 | 23.84 | 134.69 | 56.84 | 16.56 | 10.11 |
| Dr. Agarwal's Healthcare | 2.80 | 2.78 | 55.13 | 179.42 | 5.73 | 9.05 |
| Dr. Lal Path Labs | 58.48 | 58.40 | 245.26 | 52.47 | 22.30 | 12.51 |
| Metropolis Healthcare | 28.29 | 28.15 | 236.34 | 69.48 | 10.90 | 8.28 |
| Vijaya Diagnostics | 13.95 | 13.92 | 70.98 | 73.14 | 17.99 | 14.54 |
Information about company
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 has 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
Disclaimer
All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions.
We are not a SEBI Registered analyst. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on Information published on this application.
No financial information whatsoever published anywhere, within this application, should be considered as advice to buy or sell securities or invest in IPOs, or as a guide to doing so in any way whatsoever
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Day Wise Sub
| Day 1
Dec 10, 2025 | 0.00 | 0.10 | 0.07 | 0.15 | 0.21 | 0.60 | 0.13 |
| Day 2
Dec 11, 2025 | 0.29 | 0.23 | 0.16 | 0.36 | 0.47 | 1.26 | 0.37 |
| Day 3
Dec 12, 2025 | 26.82 | 24.77 | 30.43 | 13.46 | 2.36 | 2.81 | 14.08 |
Day Wise GMP
| 17-12-2025 | 460.00 | 37(8.04%) | 497 |
| 16-12-2025 | 460.00 | 37(8.04%) | 497 |
| 15-12-2025 | 460.00 | 37(8.04%) | 497 |
| 14-12-2025 | 460.00 | 34.5(7.50%) | 494.5 |
| 13-12-2025 | 460.00 | 33(7.17%) | 493 |
| 12-12-2025 | 460.00 | 33(7.17%) | 493 |
| 11-12-2025 | 460.00 | 11.5(2.50%) | 471.5 |
| 10-12-2025 | 460.00 | 20(4.35%) | 480 |
| 09-12-2025 | 460.00 | 0(0.00%) | 460 |
| 08-12-2025 | 460.00 | 0(0.00%) | 460 |
| 07-12-2025 | 460.00 | 0(0.00%) | 460 |
| 06-12-2025 | 460.00 | 0(0.00%) | 460 |
| 05-12-2025 | 460.00 | 0(0.00%) | 460 |
| 04-12-2025 | 460.00 | 0(0.00%) | 460 |
| 03-12-2025 | | 0(%) | (%) |
IPO Reservation
| QIB Shares Offered | 94,29,865 (49.78%) |
| − Anchor Investor Shares Offered | 56,57,919 (29.87%) |
| − QIB (Ex. Anchor) Shares Offered | 37,71,946 (19.91%) |
| NII (HNI) Shares Offered | 28,28,960 (14.93%) |
| − bNII > ₹10L | 18,85,973 (9.96%) |
| − sNII < ₹10L | 9,42,987 (4.98%) |
| Retail Shares Offered | 66,00,907 (34.85%) |
| Employee Shares Offered | 83,532 (0.44%) |
| Total Shares Offered | 1,89,43,264 (100.00%) |
