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27 June 2024

Nephro Care India Limited IPO

Nephro Care was founded by Dr. Pratim Sengupta in Kolkata to provide comprehensive medical services for renal patients. As of date, Nephro Care is a one-stop treatment center based in Kolkata that offers a wide range of clinical and lifestyle solutions and services and renal insufficiency treatment to patients. The treatment framework covers the entire range of lifestyle, physiological and spiritual aspects of wellness. The operations of Nephro Care are supported by a pool of expert Doctors, experienced and well-trained paramedical professionals, and a skilled management team.

Nephro Care India IPO is a book-built issue of Rs 41.26 crores. The issue is entirely a fresh issue of 45.84 lakh shares. Nephro Care India IPO opens for subscription on June 28, 2024 and closes on July 2, 2024. The allotment for the Nephro Care India IPO is expected to be finalized on Wednesday, July 3, 2024. Nephro Care India's IPO price band is set at ₹85 to ₹90 per share. The minimum lot size for an application is 1600 Shares. Corporate Capital Ventures Pvt Ltd is the book-running lead manager of the Nephro Care India IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Nephro Care India IPO Overview

Detail	Description
IPO Date	June 28, 2024 to July 2, 2024
Listing Date	[.]
Face Value	₹10 per share
Price Band	₹85 to ₹90 per share
Lot Size	1600 Shares
Total Issue Size	4,584,000 shares (aggregating up to ₹41.26 Cr)
Fresh Issue	4,584,000 shares (aggregating up to ₹41.26 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Shareholding pre issue	11,902,400
Shareholding post issue	16,486,400
Market Maker portion	230,400 shares

Nephro Care India IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Friday, June 28, 2024
IPO Close Date	Tuesday, July 2, 2024
Basis of Allotment	Wednesday, July 3, 2024
Initiation of Refunds	Thursday, July 4, 2024
Credit of Shares to Demat	Thursday, July 4, 2024
Listing Date	Friday, July 5, 2024
Cut-off time for UPI mandate confirmation	5 PM on July 2, 2024

Nephro Care India IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	1600	₹144,000
Retail (Max)	1	1600	₹144,000
HNI (Min)	2	3,200	₹288,000

Nephro Care India IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Net Issue
Retail Shares Offered	Not less than 35% of the Net Issue
NII (HNI) Shares Offered	Not less than 15% of the Net Issue

Nephro Care India IPO Promoter Holding

Share Holding Pre Issue	85.02%
Share Holding Post Issue	61.39%

Nephro Care India IPO Anchor Investors Details

Bid Date	June 27, 2024
Shares Offered	1,238,400
Anchor Portion Size (In Cr.)	11.15
Anchor lock-in period end date for 50% shares (30 Days)	August 2, 2024
Anchor lock-in period end date for remaining shares (90 Days)	October 1, 2024

Company & Financials

Incorporated in 2014, Nephro Care India Limited is a comprehensive treatment center located in Kolkata, offering a wide range of clinical and lifestyle solutions, as well as renal insufficiency treatment for patients. Currently, the hospital provides healthcare services to approximately 900 Chronic Kidney Disease patients every month. The hospital has 5 permanent doctors, 10 visiting consultants, and 70 experienced paramedical professionals. These services are delivered from our main Salt Lake clinic, which covers an area of 5,352 square feet, and three satellite clinics located in Salt Lake (HB 113) and Chandannagar, West Bengal.
At present, Nephro Care offers the following services at its clinics:

● In-house Dialysis Unit
● Outpatient Services in areas of Nephrology, Diabetology, Cardiology, Ophthalmology and Neurology
● NABL-accredited in-house Pathology
● Inhouse Pharmacy
● Advance diagnostic facilities
● Renal Nutrition department
● Home Care
● Mukti (Lifestyle Support Program)
● Home Dialysis

Nephro Care India Limited Financial Information

Period Ended	31 Dec 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	2,029.85	831.11	462.93	112.84
Revenue	1,989.60	1,709.51	342.70	183.26
Profit After Tax	340.04	194.24	-0.98	8.87
Net Worth	1,392.32	243.76	49.52	1.50
Reserves and Surplus	1,332.81	193.76	-0.48	0.50
Total Borrowing		246.39	253.74	69.27
Amount in ₹ Lakhs

Key Performance Indicator

KPI	Values
ROE	41.57%
ROCE	36.56%
RoNW	24.42%
P/BV	8.04
PAT Margin (%)	17.22

	Pre IPO	Post IPO
EPS (Rs)	1.63	2.75
P/E (x)	55.15	32.73

Objectives of Nephro Care India

The company intends to utilize the Net Fresh Issue Proceeds for the following objectives:

1. Setting up of Multi Speciality Hospital in the name of "Vivacity Multi Specialty Hospital" (unit of Nephro Care) at Kolkata (Madhyamgram), West Bengal.
2. General Corporate Expenses.

Nephro Care India IPO Review

The company is engaged in providing healthcare services with renal insufficiency treatment. It marked inconsistency in its net earnings for the reported periods and the sudden surge in bottom-in for 9M-FY24 raised eyebrows and concern over its sustainability going forward. Based on its super annualized FY24 earnings, the issue appears aggressively priced. There is no harm in skipping this pricey bet.

FAQs for Nephro Care India IPO

What is the Nephro Care IPO?

Nephro Care IPO is an NSE SME IPO. They are going to raise ₹41.26 Crores via IPO. The issue is priced at ₹85 to ₹90 per equity share. The IPO is to be listed on NSE.
When will the Nephro Care IPO open?

The IPO will open on June 28, 2024, for QIB, NII, and Retail Investors.
What is Nephro Care IPO Investors Portion?

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
What is Nephro Care IPO Size?

Nephro Care's IPO size is ₹41.26 crores.
What is the Nephro Care IPO Price Band?

Nephro Care IPO Price Band is ₹85 to ₹90 per equity share.
What is Nephro Care IPO Minimum and Maximum Lot Size?

The IPO bid is 1600 shares with ₹144,000.
What is the Nephro Care IPO Allotment Date?

Nephro Care IPO allotment date is July 3, 2024.
What is the Nephro Care IPO Listing Date?

Nephro Care IPO listing date is July 5, 2024. The IPO to list on NSE SME.