Nephro Care India shares list with 90% premium at ₹171 apiece on NSE SME

Nephro Care India share price made a remarkable stock market debut on Friday after strong response to its initial public offering (IPO). Nephro Care shares were listed at ₹171 apiece on the NSE SME, a premium of 90% to the IPO price of ₹90 per share.

Ahead of the listing, Nephro Care India IPO GMP was ₹175 per share, indicating a premium of nearly 195%.

Nephro Care India IPO listing is the first SME IPO to be listed after the National Stock Exchange (NSE) on Thursday imposed a price control cap on the issue price of SME IPOs during the pre-opening session.

The NSE circular came into force on July 4, 2024.

NSE decided to put an overall capping up to 90% over the Issue price for SME IPOs to standardize the opening price discovery/ equilibrium price across exchanges during the special pre-open session for IPO for the SME platform, it said.

Nephro Care India IPO opened for subscription on June 28 and closed on July 2. The IPO allotment was finalized on July 3 and the IPO listing date was today, July 5.

Nephro Care India IPO price band was set at ₹ ₹85 to ₹90 per share. At the upper-end of the price band, the company raised ₹41.26 crore from the book-built issue. The SME IPO was entirely a fresh issue of 45.84 lakh equity shares.

Nephro Care India IPO received robust demand as the issue was subscribed 715.78 times in total. The public issue was subscribed 634.12 times in the retail category, 245.14 times in the Qualified Institutional Bidders (QIB) category, and 1,787.19 times in the Non-Institutional Investors (NII) category.

Corporate Capitalventures Pvt Ltd is the book running lead manager of the Nephro Care India IPO, while Bigshare Services Pvt Ltd is the IPO registrar.

The anchor book of the Nephro Care IPO was subscribed to by a group of high-profile investors, including CCV Emerging Opportunities Fund - I, Persistent Growth Fund – Varsu India Growth Story Scheme 1 and Vikasa India EIF I Fund – Incube Global Opportunities.

Deepak Parekh-backed Nephro Care India Ltd is a comprehensive treatment center located in Kolkata. The hospital offers a wide range of clinical and lifestyle solutions, as well as renal insufficiency treatment for patients.

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

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