Nephrocare Health Services Makes a Strong Debut on Stock Market

Nephrocare Health Services Ltd shares opened with a 7% premium over the issue price. The stock saw significant interest, driven by a successful IPO that drew 13.96 times subscription. Funds from the IPO will be allocated to open new clinics, debt repayment, and corporate needs.

On its market debut, Nephrocare Health Services Ltd recorded a 7% rise from its issue price of Rs 460, opening at Rs 491.70 on the BSE. The stock continued its upward trend, peaking at Rs 498.70, with a valuation of Rs 4,762.67 crore.

The company's IPO was a resounding success, attracting 13.96 times subscription. The Rs 871-crore issue came with a price range of Rs 438-460 per share, and it included both a fresh issue of shares valued at Rs 353.4 crore and an Offer For Sale worth Rs 517.6 crore.

Nephrocare plans to deploy funds raised from the IPO for the establishment of new dialysis clinics across India, debt repayment amounting to Rs 136 crore, and general corporate purposes. With a network spanning multiple countries and a solid stock market debut, Nephrocare is poised for further growth.

(With inputs from agencies.)