India’s Nephro Care The IPO’s subscription period opened today and ends on July 2. company that was established in 2014 with a kidney patient care focus. There are 4,584,000 equity shares in the IPO. funds for general corporate reasons and for the establishment of a multispecialty hospital.
Nephro Care India IPO: Nephro Care India Ltd.’s initial public offering (IPO) opened for subscription on Friday, June 28, and will end on Tuesday, July 2. On Thursday, June 27, the company raised approximately ₹11.15 crore from anchor investors, according to chittorgarh.com. The pricing range for Nephro Care India’s initial public offering (IPO) is ₹85 to ₹90 per share. The comprises 1,600 shares in a lot size.
14.44 lakh equity shares are allotted to the retail (RII) portion, 6.19 lakh equity shares to the HNI portion, 8.25 lakh equity shares to the net QIBs, and 12.38 lakh equity shares to the anchor investors. 2.25 lakh equity shares are assigned for the employees, and 2.3 lakh equity shares are allotted to the market maker.
As per the company’s red herring prospectus (RHP), Nephro Care was founded in 2014 by Dr. Pratim Sengupta in Kolkata with the objective of providing comprehensive medical care to individuals suffering from renal issues. Nephro Care is currently a one-stop clinic that treats patients for renal insufficiency along with a range of clinical and lifestyle alternatives. Its headquarters are in Kolkata.
The therapeutic approach addresses the full range of behavioral, physiological, and spiritual aspects of wellbeing. The efforts of Nephro Care are supported by a group of extremely skilled doctors, skilled paramedics, and a capable management team.
The company’s line of business is not represented by any listed companies in India.
In December 2023, Nephro Care India Limited effectively concluded its pre-IPO funding round. Participants included Deepak Parekh, chairman of HDFC Securities Bharat Shah, and seasoned banker Deepak Parekh. Rajendra Agarwal is the founder and managing director of Macleods Pharmaceuticals.
Nephro Care India reported ₹19.75 crore in revenue and ₹3.4 crore in profit (PAT) for the first nine months of FY 2023–24, compared to ₹17.09 crore in revenue and ₹1.94 crore in profit (PAT) for FY 2022–23.
Status of Nephro Care India’s IPO subscription
As of day three, Nephro Care India IPO subscription status is 297.41 times.
There were 379.76 subscriptions for the retail portion and 589.27 bookings for the NII portion. 15.67 bookings for qualified institutional buyers have been made.
Based on information from chittorgarh.com, the company received bids for 92,64,92,800 shares at 12:29 IST, compared to 31,15,200 shares on sale.
On the first day of bidding, the Nephro Care India IPO subscription status was 16.84 times, and on the second day, the issue was booked 139.29 times.
Details about Nephro Care India’s IPO
The ₹41.26 crore Nephro Care India IPO comprises a new issue of 4,584,000 equity shares having a face value of ₹10. There isn’t a component that is for sale.
According to the RHP document, NCIL intends to build the “Vivacity Multi Speciality Hospital,” a multispecialty medical facility, at Madhyamgaram, Kolkata, West Bengal, with the net proceeds from the IPO, which totaled ₹26.17 crore. The money that is left over will be applied to basic business needs. The new hospital, a branch of Nephro Care India Limited, is expected to have 100 inpatient beds, including a 30-bed Critical Care unit with ICU, HDU, RTU, and NICU capabilities. Vivacity would offer treatment services in multiple areas, such as cardiology, gastrointestinal, medical oncology, obstetrics, and an advanced kidney transplant program in East India.
Corporate Capitalventures Pvt Ltd and Bigshare Services Pvt Ltd are the book running lead manager and registrar for the Nephro Care India IPO, respectively. The market maker for the Nephro Care India IPO is Ss Corporate Securities.
Nephro Care India’s current IPO GMP
Today’s IPO GMP for Nephro Care India is +150. According to investorgain.com, this shows that the share price of Nephro Care India was selling at a premium of ₹150 on the black market.
Nephro Care India IPO projected listing price was suggested at ₹245 per share, which is 172.22% more than the IPO price of ₹90, taking into account the upper end of the IPO price band and the current premium in private market.
Based on the activity of the grey market over the last eight sessions, the IPO GMP shows higher and predicts a strong listing. According to analyst estimates at investorgain.com, the greatest GMP is ₹155, and the lowest GMP is ₹0.
A “grey market premium” denotes the willingness of investors to part with more money than the issue price.