The Initial Public Offer (IPO) of Nephro Care India Limited today became the first SME offer to draw bids worth over Rs. 20,000 crore on the NSE Emerge platform. The IPO received an overwhelming response from the investors, recording 715.85 times subscription until the final day of bidding. The Kolkata-headquartered healthcare provider aimed to raise Rs. 41.26 crore from the issue that was floated between June 28 - July 02, 2024.
While the Qualified Institutional Buyer (QIB) portion of the issue was subscribed 245.14 times, the HNI quota was subscribed 1787.56 times, the Retail Individual Investors (RII) quota was subscribed 634.12 times, and employee portion was subscribed 20.44 times, bringing the overall subscription to 715.85 times till the final day of bidding on Tuesday, July 02, 2024.
The price band of the issue is fixed at Rs. 85-90/- per Equity Share with a face value of Rs. 10 apiece. The IPO comprises a fresh issue of 45.84 Lakh Equity Shares with a face value of Rs. 10/- through the book-building route. The minimum lot size for the application is 1,600 Equity Shares. The company is proposed to be listed on NSE Emerge.
Corporate Capital Ventures is the sole Book Running Lead Manager, and Bigshare Services Private Limited is the Registrar to the offer.
The company intends to utilise Rs. 26.17 crore of net proceeds from the IPO to set up a multi-speciality healthcare facility, 'Vivacity Multi Speciality Hospital', at Madhyamgaram in Kolkata, West Bengal, and the company plans to use the remaining capital for general corporate purposes. The new hospital will be a unit of Nephro Care India Limited and is proposed to include 100 inpatient beds, including a 30-bed Critical Care unit having ICU, HDU, RTU and NICU facilities. Vivacity will offer treatment services in various disciplines such as cardiology, medical oncology, gastroenterology, gynaecology and many others, including an advanced renal transplant unit in East India.
NCIL offers a wide range of clinical and lifestyle solutions and renal insufficiency treatment to patients. The treatment framework at NCIL covers the entire range of lifestyle, physiological and spiritual aspects of wellness. Nephro Care operates on a multidimensional patient engagement framework comprising programs and facilities such as Mukti, Home Dialysis, Home Care and Diagnostics. NCIL's clinics are operated on a 'hub-and-spoke' model, where each clinic is independent and individually well-equipped with skilled healthcare professionals and advanced infrastructure to serve the healthcare needs of the patients and ensure their rehabilitation.
Nephro Care was founded in the year 2021 by one of the leading nephrologists in India, Dr. Pratim Sengupta, in Kolkata, with the objective of providing comprehensive medical services for renal patients. With over 20 years of active clinical experience, Dr. Sengupta, has successfully performed more than 1,000 kidney transplants till now and is a pioneer in holistic renal care through a combination of clinical intervention, yoga and lifestyle support. Dr. Sengupta has been awarded the "Bharat Jyoti Award" for meritorious services, outstanding achievement and remarkable role by the India International Friendship Society in 2019. |
