Nephrocare Health IPO
Open MainLineCurrent GMP
₹40 (+8.70%)
Price Band
₹ 438 – 460
Lot Size
32
Issue Size
₹871.05 Cr
Minimum Investment
₹14720 (32 Shares)
Listing Date
17 December 2025
Subscription
13.96x
About the Company
Nephrocare Health Services Ltd., incorporated in 2010, is a leading provider of end-to-end dialysis care, operating a wide network of clinics across India and select international markets. Its comprehensive service portfolio includes diagnosis, haemodialysis, home and mobile dialysis solutions, wellness programs, and support from an in-house pharmacy.
As of September 30, 2025, Nephrocare operated 519 clinics, including 51 centers in the Philippines, Uzbekistan, and Nepal. Notably, the network features the world’s largest dialysis clinic in Uzbekistan. Within India, the company is present in 288 cities across 21 States and 4 Union Territories, with 77.53% of its clinics located in tier-II and tier-III cities—significantly improving access to dialysis care in underserved regions.
During Fiscal 2025, Nephrocare served 29,281 patients and completed 2,885,450 dialysis treatments, representing approximately 10% of India’s total dialysis patient base. By September 30, 2025, the company had already served 31,046 patients and completed 1,591,377 treatments in India alone. Its operations are supported by a fleet of 5,562 dialysis machines as of the same date.
Nephrocare has also established strategic collaborations with several major hospital chains to operate in-house dialysis centers. Key partners include Max Super Speciality Hospital, Fortis Escorts Hospitals, CARE Hospitals, Wockhardt Hospitals, Paras Healthcare, The Calcutta Medical Research Institute, Jehangir Hospital, and Ruby Hall Clinic.
Promoters
- Vikram Vuppala
- Bessemer Venture Partners Trust
- Edoras Investment Holdings Pte. Ltd
- Healthcare Parent Limited
- Investcorp Private Equity Fund II
- Investcorp Growth Opportunity Fund
Promoters Holding
Holding Pre Issue
78.90%
Holding Post Issue
0.00%
Objects of the Issue
The Company Nephrocare Health IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Capital expenditure by the Company for opening new dialysis clinics in India and
- Pre-payment, or scheduled repayment, in full or part, of certain borrowings availed by the Company
- General corporate purposes
Address / Contact Info
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: cs@nephroplus.com
Website: http://www.nephroplus.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Wednesday, 10 December 2025
IPO Close Date
Friday, 12 December 2025
Basis of Allotment
Monday, 15 December 2025
Initiation of Refunds
Tuesday, 16 December 2025
Credit of Shares to Demat
Tuesday, 16 December 2025
Listing Date
Wednesday, 17 December 2025 — NSE & BSE
Important Dates
Open Date
10 December 2025
Close Date
12 December 2025
Basis Of Allotment
15 December 2025
Listing Date
17 December 2025
Financial Performance (₹ in Crores)
| Particular | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 1193.68 | 996.46 | 806.02 | 666.23 |
| Revenue | 483.97 | 769.92 | 574.72 | 443.26 |
| Profit After Tax | 14.23 | 67.1 | 35.13 | -11.79 |
| Net Worth | 716.06 | 594.21 | 423.55 | 384.73 |
| Reserve & Surplus | 704.14 | 578.68 | 408.57 | 383.5 |
| Total Borrowings | 207.04 | 225.8 | 243.37 | 196.21 |
EPS Pre
0.00%
EPS Post
0.00%
P/E Pre
0.00
P/E (Post Issue)
0.00x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|
| ROE % | 13.45 | 8.76 | -3 |
| ROCE % | 18.67 | 10 | 0.44 |
| Debt / Equity | 0 | 0 | 0 |
| RoNW % | 13.19 | 8.69 | -3.02 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 8.88 | 6.21 | -2.7 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 3678793 | 27.48 | 0 |
| Non-Institutional | 2886270 | 21.56 | 0 |
| BNII | 1924180 | 14.37 | 0 |
| SNII | 962090 | 7.19 | 0 |
| Retail Investors | 6734630 | 50.3 | 0 |
| Employees | 88161 | 0.66 | 0 |
| Total | 13387854 | 100 | 0 |
Subscription Status ( Fri, 12 Dec 25 01:49 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 3678793 | 101069088 | 27.47x |
| Non-Institutional | 2886270 | 70052352 | 24.27x |
| BNII | 1924180 | 57366080 | 29.81x |
| SNII | 962090 | 12686272 | 13.19x |
| Retail Investors | 6734630 | 15538304 | 2.31x |
| Employees | 88161 | 235136 | 2.67x |
| Total | 13387854 | 186894880 | 13.96x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Nephrocare Health Services Ltd | 2 | 0.00 | 8.28 | 8.01 | 13.19 | 59.56 |
| Narayana Health | 10 | 45.21 | 38.90 | 38.90 | 21.77 | 160.35 |
| Jupiter Life Line Hospitals | 10 | 51.10 | 29.47 | 29.47 | 14.27 | 192.55 |
| Rainbow Children Hospita | 10 | 56.84 | 23.97 | 23.84 | 16.56 | 134.69 |
| Dr. Agarwal’s Healthcare | 1 | 179.42 | 2.80 | 2.78 | 5.73 | 55.13 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 32 | 14,720.00 |
| Retail (Max) | 13 | 416 | 191,360.00 |
| S-HNI (Min) | 14 | 448 | 206,080.00 |
| S-HNI (Max) | 67 | 2,144 | 986,240.00 |
| B-HNI (Min) | 68 | 2,176 | 1,000,960.00 |
Registrar
Kfin Technologies Limited
04067162222, 04079611000
reachus@kfintech.com
https://www.kfintech.com
Book Running Lead Managers
- Ambit Private Limited
- IIFL Capital Services Limited
- ICICI Securities Limited
- Nomura Financial Advisory And Securities (India) Pvt Ltd
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Nephrocare Health IPO is a Book-building IPO worth ₹871.05 crores. The price band is ₹438 to 460 per share. The IPO opens on Wed, Dec 10, 2025 and closes on Fri, Dec 12, 2025. It will be listed on BSE and NSE. Kfin Technologies Limited is the registrar.
The Nephrocare Health IPO opens on Wed, Dec 10, 2025 and closes on Fri, Dec 12, 2025
Nephrocare Health IPO Price Band is ₹438 to 460.
Nephrocare Health IPO lot size is 32, and the minimum amount required for application is ₹14720.
The minimum investment for Nephrocare Health IPO is approximately ₹14720 based on the upper price band.
To apply for the Nephrocare Health IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Fri, Dec 12, 2025. After submission, funds are blocked until the basis of allotment of Nephrocare Health IPO is finalised.
Nephrocare Health IPO issue size is ₹871.05 crores.
Nephrocare Health IPO allotment date is Sat, Jun 27, 2026.
The registrar for Nephrocare Health IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website for IPO allotment status, refund processing, and other queries related to Nephrocare Health IPO through their official website or helpline.
The Nephrocare Health IPO GMP (Grey Market Premium) is ₹40 as of Wed, Dec 17, 2025. Based on the upper price band of ₹460 per share, the estimated Nephrocare Health IPO listing price is ₹500, indicating a potential listing gain of approximately 31% over the issue price.