Nephro Care initial public offering opens for subscription on Friday, aiming to raise Rs 41.26 crore comprising entirely a fresh issue of approximately 4.58 million shares.
The company raised Rs 11.15 crore from anchor investors on June 27, with the anchor investors list including CCV Emerging Opportunities Fund, Persistent Growth Fund, Varsu India Growth Story and Vikasa India EIF I Fund.
Established in 2014, Nephro Care India Limited operates as a comprehensive treatment centre based in Kolkata. Specialising in renal care, the facility provides a diverse array of clinical and lifestyle solutions tailored to address renal insufficiency and related conditions for patients.
Here are the key details of Nephro Care IPO
Nephro Care IPO lot size, price band
The price band for the Nephro Care IPO is fixed at Rs 85 to Rs 90 per share. Retail investors can apply for a minimum lot of 1600 shares, requiring an investment of at least Rs 1,44,000. For high net worth individuals (HNIs), the minimum shares are 3,200, amounting to Rs 2,88,000.
Nephro Care IPO important dates
The subscription of Nephro Care’s IPO opens on Friday, June 28, 2024, and closes on July 2, 2024. Allotment is expected on July 3, 2024, with tentative listing on NSE SME scheduled for July 5, 2024.
Nephro Care IPO GMP
According to IPO information platform Chittorgarh IPO, the latest grey market premium (GMP) for Nephro Care is Rs 100. With a price band of Rs 90, the estimated listing price for the IPO is Rs 190, projecting an expected listing gain of 111.11 percent per share.
Nephro Care IPO financials
In FY23, Nephro Care recorded a 399 per cent increase in revenue to Rs 17.09 crore from Rs 3.42 crore in FY22. The company’s profit after tax (PAT) came in at Rs 1.94 crore in FY23, as against a loss of 0.98 crore in FY22.
Nephro Care IPO share allotment
The company has allocated up to 50 per cent of the shares for Qualified Institutional Buyers (QIBs), at least 35 per cent for retail buyers, and a minimum of 15 per cent for Non-Institutional Investors (NIIs).
Nephro Care IPO lead book runners
Corporate Capital Ventures Pvt Ltd is the book running lead manager, Bigshare Services Pvt Ltd is the registrar, and Ss Corporate Securities will act as the market maker for the IPO.
Nephro Care IPO objectives of issue
Nephro Care India Limited plans to use the net proceeds from its fresh issue primarily to establish “Vivacity Multi Specialty Hospital” in Madhyamgram, Kolkata, West Bengal. The hospital will offer a wide range of medical services. Additionally, funds will be allocated for general corporate expenses to support operational needs and business initiatives.
Post the IPO, the price to earnings multiple of the company will be 32.73 times with an earning per share of Rs 2.75.
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