Deepak Parekh-backed Nephro Care India IPO booked 715.78x on Day 3. Check GMP, subscription status, more.

Nephro Care India IPO: The initial public offering of Nephro Care India Ltd has began subscription on Friday, June 28, and will close on Tuesday, July 2. The company raised about ₹11.15 crore from anchor investors on Thursday, June 27, as per chittorgarh.com. Nephro Care India IPO price band has been set in the range of ₹85 to ₹90 per share. The consists of a lot size of 1,600 shares.

The retail (RII) portion accounts for 14.44 lakh equity shares, while the HNI portion is allocated 6.19 lakh equity shares, the net QIBs are allocated 8.25 lakh equity shares, and the anchor investors are allocated 12.38 lakh equity shares. The market maker is allocated 2.3 lakh equity shares, and the employees are designated 2.25 lakh equity shares.

According to the red herring prospectus (RHP) of the firm, Nephro Care was established in 2014 by Dr. Pratim Sengupta in Kolkata with the goal of offering complete medical care to patients with kidney problems. As of right now, Nephro Care is a one-stop clinic with headquarters in Kolkata that treats patients for renal insufficiency as well as a variety of clinical and lifestyle options.

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The complete spectrum of behavioural, physiological, and spiritual dimensions of wellbeing is addressed by the therapy approach. Nephro Care's activities are bolstered by a team of highly qualified physicians, proficient paramedical personnel, and an accomplished management group.

There are no listed companies in India that engage in a business similar to that of the company.

Nephro Care India Limited successfully completed its pre-IPO funding round in December 2023. Among the participants were Rajendra Agarwal, the founder and managing director of Macleods Pharmaceuticals, Deepak Parekh, chairman of HDFC Securities Bharat Shah, and veteran banker Deepak Parekh.

In the first nine months of FY 2023–24, Nephro Care India reported revenue of ₹19.75 crore and profit (PAT) of ₹3.4 crore, as opposed to revenue of ₹17.09 crore and profit (PAT) of ₹1.94 crore in FY 2022–23.

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Nephro Care India IPO subscription status

Nephro Care India IPO subscription status is 715.78 times, on day 3.

The retail portion was subscribed 634.12 times, and NII portion was booked 1,787.19 times. Qualified Institutional Buyers has been booked 245.14 times.

The company has received bids for 2,22,98,01,600 shares against 31,15,200 shares on offer, according to data on chittorgarh.com.

Nephro Care India IPO subscription status was 16.84 times on the first day of bidding, and the issue was booked 139.29 times on day 2.

Nephro Care India IPO details

The Nephro Care India IPO, worth ₹41.26 crore, consists of a fresh issuance of 4,584,000 equity shares at face value of ₹10. There is no offer-for-sale component.

The RHP document states that NCIL plans to use the net proceeds from the IPO of ₹26.17 crore to establish the "Vivacity Multi Speciality Hospital," a multispecialty healthcare facility, in Madhyamgaram, Kolkata, West Bengal. The remaining funds will be used for general corporate purposes. The anticipated 100 inpatient beds at the new hospital, which will be a division of Nephro Care India Limited, would feature a 30-bed Critical Care unit with ICU, HDU, RTU, and NICU capabilities. Treatment services in numerous specialties, including gynecology, cardiology, medical oncology, gastroenterology, and an advanced kidney transplant program in East India, would be provided by Vivacity.

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

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Nephro Care India IPO GMP today

Nephro Care India IPO GMP today is +150. This indicates Nephro Care India share price were trading at a premium of ₹150 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, Nephro Care India IPO expected listing price was indicated at ₹245 apiece, which is 172.22% higher than the IPO price of ₹90.

Today's IPO GMP indicates higher and anticipates a solid listing based on the activity of the grey market over the past eight sessions. Analysts at investorgain.com estimate that the lowest GMP is ₹0 and the maximum GMP is ₹155.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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