Nephrocare Health Ipo
Nephrocare Health IPO Review & Key Points
Review:
IPO Lead Managers aka Merchant Bankers
ICICI Securities Ltd.
Ambit Pvt.Ltd.
IIFL Capital Services Ltd.
Nomura Financial Advisory & Securities (India) Pvt.Ltd.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 32 | ₹14,720 |
| Retail Maximum | 13 | 416 | ₹1,91,360 |
| S-HNI Minimum | 14 | 448 | ₹2,06,080 |
| S-HNI Maximum | 67 | 2,144 | ₹9,86,240 |
| B-HNI Minimum | 68 | 2,176 | ₹10,00,960 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
| Anchor Bidding Date | December 9, 2025 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | January 14, 2026 |
| lock-in period end date 50% shares (90 Days) | March 15, 2026 |
| IPO Open Date: | December 10, 2025 |
| IPO Close Date: | December 12, 2025 |
| Basis of Allotment: | December 15, 2025 |
| Refunds: | December 16, 2025 |
| Credit to Demat Account: | December 16, 2025 |
| IPO Listing Date: | December 17, 2025 |
| IPO Bidding Cut-off Time: | December 12, 2025 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 9,26,50,799 | 78.90% |
| Promoter Holding Post Issue | 10,03,33,516 | 71.49% |
| Purpose | Crores |
| Capital expenditure by the Company for opening new dialysis clinics in India and | ₹129.11 |
| Pre-payment, or scheduled repayment, in full or part, of certain borrowings availed by the Company | ₹136 |
| General corporate purposes | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹443.26 | ₹451.85 | ₹11.79 | ₹666.23 |
| 2024 | ₹574.72 | ₹541.56 | ₹35.13 | ₹806.02 |
| 2025 | ₹769.92 | ₹682.48 | ₹67.10 | ₹996.46 |
| September 2025 | ₹483.97 | ₹456.07 | ₹14.23 | ₹1,193.68 |
| KPI | Values |
| ROE: | 13.45% |
| ROCE: | -% |
| EBITDA Margin: | 22.05% |
| PAT Margin: | 8.88% |
| Debt to equity ratio: | 0.58 |
| Earning Per Share (EPS): | ₹8.28 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 13.19% |
| Net Asset Value (NAV): | ₹59.56 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Narayana Health | 38.90 | 50.62 | NA | NA | 5,482.98 Cr. |
| Jupiter Life Line Hospitals | 29.47 | 51.27 | 14.27% | 192.55 | 1,261.55 Cr. |
| Rainbow Children Hospital | 23.97 | 64.00 | 16.56% | 134.67 | 1,515.87 Cr. |
| Dr. Agarwal’s Healthcare | 2.80 | 155.32 | NA | NA | 1,711 Cr. |
| Vijaya Diagnostics | 13.95 | 73.20 | NA | NA | 681.39 Cr. |
| Dr. Lal Path Labs | 58.48 | 50.75 | 22.30% | 244.39 | 2,461.40 Cr. |
| Metropolis Healthcare | 28.29 | 73.10 | NA | NA | 1,331.20 Cr. |
| IPO Open Date | December 10, 2025 |
| IPO Close Date | December 12, 2025 |
| Face Value | ₹2 Per Equity Share |
| IPO Price Band | ₹438 to ₹460 Per Share |
| Issue Size | Approx ₹871.05 Crores |
| Fresh Issue | Approx ₹353.40 Crores |
| Offer for Sale: | Approx 1,12,53,102 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |