Nephrocare Health Services IPO: A Resounding Success

Nephrocare Health Services Ltd's IPO was significantly oversubscribed on its closing day, reaching 13.96 times the available shares. Institutional investors showed robust interest, and the company has set a price band valuing it at over Rs 4,600 crore. Funds will be used for expansion and debt repayment.

Nephrocare Health Services Ltd's initial public offering (IPO) concluded with impressive demand, being subscribed 13.96 times over on the final day. The IPO, valued at Rs 871 crore, saw bids reach a remarkable 18.7 crore shares against the 1.34 crore shares available, according to NSE data.

Institutional investors displayed substantial interest in Nephrocare's public offering, with the Qualified Institutional Buyers segment being oversubscribed 27.47 times. Non-institutional investors also responded favorably, with subscriptions reaching 24.27 times the quota. Retail investors subscribed 2.31 times the allocated shares.

Nephrocare, known for its NephroPlus clinics, plans to use part of the proceeds, estimated at Rs 129.1 crore, for expanding its network of dialysis clinics across India and Rs 136 crore to clear existing debt. The company, established in 2009, runs 519 clinics globally.