Nephro Care India IPO: Details on Anchor Investors, Share Allotment, and Objectives

India IPO

Updated June 28, 2024

Nephro Care India IPO: Details on Anchor Investors, Share Allotment, and Objectives

The Nephro Care India IPO started accepting subscriptions today, June 28, and will close on July 2. The company, founded in 2014 and focused on kidney care, plans to raise ₹11.15 crore from anchor investors. The IPO price range is ₹85 to ₹90 per share, with a lot size of 1,600 shares.

Share Allotment and Investor Allocation

- Retail Investors:

14.44 lakh shares

- HNIs:

6.19 lakh shares

- Qualified Institutional Buyers (QIBs):

8.25 lakh shares

- Anchor Investors:

12.38 lakh shares

- Market Maker:

2.3 lakh shares

- Employees:

2.25 lakh shares

Company Background

Established by Dr. Pratim Sengupta in Kolkata, Nephro Care India provides comprehensive care for kidney patients. The clinic offers a wide range of treatments, focusing on both medical and lifestyle aspects. The company boasts a team of skilled physicians, paramedics, and management.

Pre-IPO Funding

Notable participants in the December 2023 pre-IPO funding round included Rajendra Agarwal, founder of Macleods Pharmaceuticals, Deepak Parekh, chairman of HDFC Securities, and Bharat Shah.

Financial Performance

For the first nine months of FY 2023–24, Nephro Care reported revenue of ₹19.75 crore and a profit of ₹3.4 crore, compared to ₹17.09 crore in revenue and ₹1.94 crore in profit for FY 2022–23.

Subscription Status

On the first day, the IPO was subscribed 16.51 times. The retail portion was subscribed 29.55 times, the NII portion 13.97 times, and QIBs 9%. Bids were received for 5,14,24,000 shares against 31,15,200 shares on offer by 17:11 IST.

IPO Objectives

The IPO, valued at ₹41.26 crore, includes a fresh issue of 4,584,000 equity shares with no offer-for-sale component. Proceeds will fund the establishment of the Vivacity Multi-Specialty Hospital in Madhyamgaram, Kolkata, with 100 inpatient beds, including a 30-bed Critical Care unit.

The hospital will offer services in various specialties, including gynecology, cardiology, medical oncology, gastroenterology, and a kidney transplant program. Remaining funds will be used for general corporate purposes.

Market Details

Corporate Capitalventures Pvt Ltd and Bigshare Services Pvt Ltd are the book running lead manager and registrar, respectively. Ss Corporate Securities is the market maker for the IPO.

Grey Market Premium

The grey market premium (GMP) for the Nephro Care India IPO is +₹100, indicating a trading price of ₹190 per share, a 111.11% increase over the IPO price of ₹90, according to investorgain.com. The GMP reflects investors' willingness to pay a premium over the issue price.