Nephro Care India Eyes Rs 41 Crore Through IPO to Launch Multi-Speciality Hospital

Kidney care provider Nephro Care India Ltd plans to raise over Rs 41 crore through an IPO starting June 28. The funds will aid in establishing the Vivacity Multi Speciality Hospital in Kolkata. Nephro Care India recorded a revenue of Rs 19.75 crore and a profit of Rs 3.4 crore in FY 2023-24.

Kidney care provider Nephro Care India Ltd announced on Tuesday its intention to raise more than Rs 41 crore through an upcoming IPO, which will be available for public subscription starting June 28.

The IPO, with a price band set at Rs 85-90 per share, is scheduled to close on July 2. Bidding for anchor investors begins a day earlier, on June 27, the Kolkata-based healthcare provider stated.

The public offering includes a fresh issuance of 45.84 lakh equity shares, worth Rs 41.26 crore at the upper price limit. Post-issue, the company's shares will debut on the NSE Emerge platform.

The proceeds will primarily be used to fund a multi-speciality healthcare facility, Vivacity Multi Speciality Hospital, in Madhyamgram, Kolkata, with Rs 26.17 crore allocated for this project. The remaining capital will go towards general corporate expenses.

The forthcoming hospital will feature 100 in-patient beds, including a 30-bed Critical Care unit, and will offer a range of services, including cardiology, medical oncology, gastroenterology, gynaecology, and an advanced renal transplant unit for East India.

Notably, Nephro Care India successfully completed its pre-IPO funding round in December 2023, attracting notable investors such as Deepak Parekh, Bharat Shah, and Rajendra Agarwal.

Financially, Nephro Care India posted a revenue of Rs 19.75 crore and a profit of Rs 3.4 crore in the first nine months of FY 2023-24.

Corporate Capital Ventures will serve as the book-running lead manager, and Bigshare Services Private Ltd is the registrar for the IPO.