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Business News/ Markets / Ipo/  Kolkata- based Nephro Care India files DRHP with SEBI to launch IPO
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Kolkata- based Nephro Care India files DRHP with SEBI to launch IPO

As outlined in the draft papers , the IPO involves a fresh issuance of 45,84,000 equity shares, each valued at ₹10.

Nephro Care India IPO (iStock)Premium
Nephro Care India IPO (iStock)

Nephro Care India (NCIL), a prominent healthcare provider specializing in multiple disciplines in East India, has submitted its draft red herring prospectus (DRHP) to NSE Emerge, intending to secure funds via an initial public offering (IPO).

As outlined in the draft papers , the IPO involves a fresh issuance of 45,84,000 equity shares, each valued at 10.

Based in Kolkata, the healthcare provider offers a comprehensive array of clinical services, lifestyle solutions, and treatments for renal insufficiency. 

Also read: Vodafone Idea FPO: GQG Partners, Fidelity, HDFC MF, Quant MF likely to participate in anchor book, says Report

In December 2023, Nephro Care India concluded its pre-IPO funding round successfully, with notable participation from banking veteran and former HDFC Ltd chairman Deepak Parekh, HDFC Securities chairman Bharat Shah, and Rajendra Agarwal, Founder and MD of Macleods Pharmaceuticals, among others. 

As per the Draft Red Herring Prospectus (DRHP), NCIL plans to utilize the net proceeds from the IPO to establish 'Vivacity Multi Speciality Hospital' in Madhyamgram, Kolkata, West Bengal, as well as for general corporate purposes.

The upcoming hospital, a subsidiary of Nephro Care India Limited, is slated to feature 100 beds for inpatient care, including a 30-bed Critical Care unit equipped with ICU, HDU, RTU, and NICU facilities. Vivacity, under this establishment, will provide comprehensive medical services spanning cardiology, medical oncology, gastroenterology, gynecology, and more, with a specialized focus on advanced renal transplant procedures in East India.

Also read: Faalcon Concepts IPO price band fixed at 62 per share; SME IPO to open on April 19

Nephro Care India Limited presently attends to approximately 900 chronic kidney disease (CKD) patients monthly. Its flagship Salt Lake clinic, spanning 5,352 sq. ft., houses over 5 permanent physicians, alongside 10 visiting consultants and a team of 70 skilled professionals. Additionally, the company operates satellite clinics in Salt Lake (HB 113) and Chandannagar, near Kolkata, with plans to inaugurate three more satellite clinics in Alipurduar and Shyambazar in West Bengal and Balasore in Odisha.

For the first nine months of FY 2023-24, NCIL reported a revenue of 19.90 crore and a profit (PAT) of 3.4 crore, marking an increase from FY 2022-23's revenue of 17.09 crore and a PAT of 1.94 crore.A

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Published: 16 Apr 2024, 05:38 PM IST
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