Nephrocare Health Services' IPO Sees Promising Market Debut

Nephrocare Health Services Ltd witnessed a promising debut on the stock market, with shares closing at a 2.5% premium over the issue price. The IPO, subscribed 13.96 times, raised Rs 871 crore. Proceeds will help fund new dialysis clinics, debt repayment, and other corporate purposes.

Nephrocare Health Services Ltd marked a successful entry into the stock market as its shares closed with a 2.5% premium over the issue price of Rs 460 on Wednesday. The positive reception highlights investor confidence in the dialysis service provider's market potential.

On the Bombay Stock Exchange, Nephrocare's shares began trading at Rs 491.70, representing a 6.89% increase, and peaked at Rs 498.70 before settling at Rs 471.60. At the National Stock Exchange, shares opened at Rs 490, a 6.52% premium, closing at Rs 471.25.

The Rs 871 crore IPO was oversubscribed 13.96 times and aimed to fuel Nephrocare's expansion and debt management strategies. The company's extensive network includes 519 clinics globally, with plans to utilize IPO proceeds for new dialysis clinics, debt repayment, and general corporate needs.

(With inputs from agencies.)