Nephrocare Health IPO
GMP, Subscription, Price, Dates & Financial Details
Healthcare Services
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,…
Open Date
Wed, 10 Dec 2025
Close Date
Fri, 12 Dec 2025
Price Band
₹ 438 – 460
Lot Size
32
Issue Size
₹ 871.05 Cr
Minimum Investment
₹ 14,720 (32 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Nephrocare Health IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹871.05 Crore, comprising a fresh issue of 76.83 Lakh equity shares aggregating to ₹353.40 Crore and an offer for sale (OFS) of 1.13 Crore equity shares aggregating to ₹517.64 Crore by the existing shareholders.
The Nephrocare Health IPO remained open for subscription from December 10, 2025, to December 12, 2025. The basis of allotment was finalized on December 15, 2025, and the company's shares were listed on the NSE and BSE on December 17, 2025.
The company had fixed the price band at ₹438 to ₹460 per share, with a lot size of 32 shares. Retail investors were required to make a minimum investment of ₹14,720 (based on the upper price band) to apply for one lot.
KFin Technologies Limited served as the registrar to the issue. Ambit Private Limited, IIFL Capital Services Limited, ICICI Securities Limited, and Nomura Financial Advisory And Securities (India) Pvt Ltd acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Nephrocare Health Services Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Nephrocare Health IPO Timeline (Tentative)
- IPO Open Date
- Wed, 10 Dec 25
- IPO Close Date
- Fri, 12 Dec 25
- Basis of Allotment
- Mon, 15 Dec 25
- Initiation of Refunds
- Tue, 16 Dec 25
- Credit of Shares to Demat
- Tue, 16 Dec 25
- Listing Date
- Wed, 17 Dec 25 — NSE & BSE
Open Date
10 December 2025
Close Date
12 December 2025
Basis Of Allotment
15 December 2025
Listing Date
17 December 2025
IPO Subscription
Check Live Subscription →The Nephrocare Health IPO has received bids for 18,68,94,880 shares against 1,33,87,854 shares offered, resulting in an overall subscription of 13.96x. the NII category is subscribed 24.27x, Retail Investors 2.31x, Employees 2.67x, and QIBs 27.47x. Within the NII category, BNII is subscribed 29.81x, while SNII is subscribed 13.19x.
QIB
27.47x
NII
24.27x
BNII
29.81x
SNII
13.19x
RII
2.31x
EMP
2.67x
Total
13.96x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 67,34,630 shares, representing 50.3% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 36,78,793 shares (27.48%), while Non-Institutional Investors (NIIs) receive 28,86,270 shares (21.56%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 3,678,793 | 27.48% |
| Non-Institutional | 2,886,270 | 21.56% |
| BNII | 1,924,180 | 14.37% |
| SNII | 962,090 | 7.19% |
| Retail Investors | 6,734,630 | 50.3% |
| Employees | 88,161 | 0.66% |
| Total | 13,387,854 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Nephrocare Health Services Limited KPI Information
| Particular | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|
| ROE % | 13.45 | 8.76 | -3 |
| ROCE % | 18.67 | 10 | 0.44 |
| RoNW % | 13.19 | 8.69 | -3.02 |
| Pat Margin % | 8.88 | 6.21 | -2.7 |
Peers Comparison
| 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 |
About Nephrocare Health Services Limited
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.
Nephrocare Health IPO 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%
Nephrocare Health IPO Objective
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
Nephrocare Health Services Limited Address / 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: cs@nephroplus.com
Website: http://www.nephroplus.com/
IPO Snapshot
Nephrocare Health IPO Lot Size
The Nephrocare Health IPO has a lot size of 32 shares. Retail investors require a minimum investment of ₹14,720 by applying for 1 lot (32 shares). The maximum application allowed for the retail category is 13 lots (416 shares), requiring an investment of ₹1,91,360.
| 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 |
Issue Reservation
- QIB — 27.48%
- NII — 21.56%
- RII — 50.3%
- EMP — 0.66%
Book Running Lead Managers
- Ambit Private Limited
- IIFL Capital Services Limited
- ICICI Securities Limited
- Nomura Financial Advisory And Securities (India) Pvt Ltd
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Nephrocare Health IPO?
Nephrocare Health IPO is a Book-building IPO with a total issue size of ₹871.05 crore. The Nephrocare Health IPO price band is ₹438 to 460 per share. The Nephrocare Health IPO subscription opens on Wed, Dec 10, 2025, and closes on Fri, Dec 12, 2025. The Nephrocare Health IPO will be listed on the BSE,NSE. KFin Technologies Limited is the registrar for the Nephrocare Health IPO.
When will the Nephrocare Health IPO open for subscription?
The Nephrocare Health IPO opens on Wed, Dec 10, 2025 and closes on Fri, Dec 12, 2025
What is Nephrocare Health IPO Price Band?
Nephrocare Health IPO Price Band is ₹438 to 460 per share.
What is Nephrocare Health IPO Lot Size?
Nephrocare Health IPO lot size is 32 shares, Retail investors need a minimum investment of ₹14720 based on the upper price band
What is the minimum investment for Nephrocare Health IPO?
The minimum investment for Nephrocare Health IPO is ₹14720, based on one lot of 32 shares at the upper price band of ₹460 per share.
How to apply for Nephrocare Health IPO?
Investors can apply for the Nephrocare Health IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Dec 12, 2025. The application amount remains blocked until the Nephrocare Health IPO allotment is finalized.
What is Nephrocare Health IPO Issue Size?
Nephrocare Health IPO issue size is ₹871.05 crores.
What is the Nephrocare Health IPO Allotment Date?
Nephrocare Health IPO allotment date is Mon, Dec 15, 2025.
Who is the Nephrocare Health IPO Registrar?
The registrar for Nephrocare Health IPO is KFin Technologies Limited. Investors can go to KFin Technologies Limited website to check Nephrocare Health IPO allotment status, refund processing, and other IPO-related information.
What is the Nephrocare Health IPO GMP?
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 8.70% over the issue price.
Who is the Nephrocare Health IPO Lead Manager?
The book-running lead managers (BRLMs) for the Nephrocare Health IPO are Ambit Private Limited, IIFL Capital Services Limited, ICICI Securities Limited, and Nomura Financial Advisory And Securities (India) Pvt Ltd. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Nephrocare Health IPO Red Herring Prospectus (RHP).