Nephrocare Health to Launch INR 871 Cr IPO on December 10

From the fresh issue proceeds, Nephrocare Health proposes to utilise ₹129.1 crore to set up new dialysis clinics in various parts of the country.

The public offering of Nephrocare Health consists of a fresh issue of shares worth ₹353.4 crore and an offer for sale of 1.12 crore shares amounting to ₹517.64 crore by promoters and institutional shareholders.

The anchor book will open on December 9, while the company's shares are most likely to debut on NSE and BSE on December 17, as the allotment is scheduled on December 15.

From the fresh issue proceeds, Nephrocare Health proposes to utilise ₹129.1 crore to set up new dialysis clinics in various parts of the country. Another ₹136 crore would be used for repayment or prepayment of debt. The balance would be utilised for general corporate purposes as the company expands its operations.

Operating under the brand name NephroPlus since its inception in 2009, Nephrocare has grown into India’s most widespread dialysis network, covering 288 cities across 21 states and four union territories.

As of September 2025, the network comprises 519 clinics with 51 centres in the Philippines, Uzbekistan, and Nepal.

It has entered the Kingdom of Saudi Arabia through a joint venture with Arabian International Healthcare Holding Company, part of the Al Faisaliah Group. Its 165-bed dialysis facility in Tashkent remains the world’s largest dedicated dialysis clinic.

A substantial part of the company's footprint sits in tier II and III locations, accounting for 77% of its total clinics.

During FY25, Nephrocare delivered ₹756 crores of operating revenues and ₹67 crores of profit after tax, reflecting solid growth and accelerating demand for services.

The book-running lead managers are ICICI Securities, Ambit, IIFL Capital Services, and Nomura Financial Advisory and Securities (India), with Kfin Technologies being the registrar for the issue.

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