Nephrocare Health Services IPO subscribed 36 pc on day 2

New Delhi, Dec 11 (PTI) The initial public offering of dialysis services provider Nephrocare Health Services received 36 per cent subscription on the second day of share sale on Thursday.

The Rs 871-crore initial public offering (IPO) received bids for 48,58,496 shares against 1,33,87,854 shares on offer, according to the NSE data.

The portion for Retail Individual Investors (RIIs) received 45 per cent subscription, while the quota for Qualified Institutional Buyers (QIBs) subscribed 30 per cent. Non-Institutional Investors' portion fetched 22 per cent subscription.

Nephrocare Health Services, known for its brand NephroPlus, on Tuesday garnered Rs 260 crore from anchor investors.

This comes after secondary transactions worth Rs 136 crore concluded on December 8-9.

The Hyderabad-based company's IPO will conclude on December 12. It has fixed a price band of Rs 438-460 per share, valuing the company at over Rs 4,600 crore.

The IPO is a combination of a fresh issue of shares aggregating to Rs 353.4 crore and an Offer For Sale (OFS) of 1.12 crore shares valued at Rs 517.6 crore, at the upper end, taking the total issue size to Rs 871 crore.

As a part of the OFS, promoters -- Investcorp Private Equity Fund II, Healthcare Parent, Investcorp Growth Opportunity Fund, Edoras Investment Holdings Pte, -- along with other shareholders -- Investcorp India Private Equity Opportunity, International Finance Corporation and 360 One Special Opportunities Funds--will offload shares.

Of the fresh issue, the company proposes to utilise Rs 129.1 crore for the opening of new dialysis clinics in India; Rs 136 crore payment of debt; and the balance for general corporate purposes.

Incorporated in 2009, NephroPlus had a global network of 519 clinics, including 51 clinics across the Philippines, Uzbekistan and Nepal, as of September 30, 2025.

Financially, NephroPlus posted revenue from operations of Rs 756 crore and profit after tax of Rs 67 crore in FY25.

ICICI Securities, Ambit, IIFL Capital Services and Nomura Financial Advisory and Securities (India) Private Ltd are the book-running lead managers to the issue. PTI HG HG MR