Nephrocare Health IPO Details
| IPO Open Date | December 10, 2025 |
| IPO Close Date | December 12, 2025 |
| Face Value | ₹2 Per Equity Share |
| IPO Price Band | ₹438 to ₹460 Per Share |
| Issue Size | Approx ₹871.05 Crores |
| Fresh Issue | Approx ₹353.40 Crores |
| Offer for Sale: | Approx 1,12,53,102 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Nephrocare Health IPO Review & Key Points
- Review:
Nephrocare Health IPO Market Lot
The Nephrocare Health IPO minimum market lot is 32 shares with ₹14,720 application amount. The retail investors can apply up-to 13 lots with 416 shares of ₹1,91,360 amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 32 | ₹14,720 |
| Retail Maximum | 13 | 416 | ₹1,91,360 |
| S-HNI Minimum | 14 | 448 | ₹2,06,080 |
| S-HNI Maximum | 67 | 2,144 | ₹9,86,240 |
| B-HNI Minimum | 68 | 2,176 | ₹10,00,960 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Nephrocare Health IPO Anchor Investors
| Anchor Bidding Date | December 9, 2025 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | January 14, 2026 |
| lock-in period end date 50% shares (90 Days) | March 15, 2026 |
Nephrocare Health IPO Dates
The Nephrocare Health IPO date is December 10 and the close date is December 12. The Nephrocare Health IPO allotment will be finalized on December 15 and the IPO listing on December 17.
| IPO Open Date: | December 10, 2025 |
| IPO Close Date: | December 12, 2025 |
| Basis of Allotment: | December 15, 2025 |
| Refunds: | December 16, 2025 |
| Credit to Demat Account: | December 16, 2025 |
| IPO Listing Date: | December 17, 2025 |
| IPO Bidding Cut-off Time: | December 12, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Vikram Vuppala, Bessemer Venture Partners Trust, Edoras Investment Holdings Pte. Ltd., Healthcare Parent Limited, Investcorp Private Equity Fund Ii And Investcorp Growth Opportunity Fund.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 9,26,50,799 | 78.90% |
| Promoter Holding Post Issue | 10,03,33,516 | 71.49% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Capital expenditure by the Company for opening new dialysis clinics in India and | ₹129.11 |
| Pre-payment, or scheduled repayment, in full or part, of certain borrowings availed by the Company | ₹136 |
| General corporate purposes | ₹- |
About Nephrocare Health IPO
Nephrocare Health Services Ltd. has been in the business of offering end-to-end dialysis care since 2010, with a large network of clinics across India and international markets. Diagnosis, haemodialysis, home and mobile dialysis, and wellness programs are among the services provided by Nephrocare, which also has its own pharmacy.
The company runs a total of 490 clinics, 447 in India and 43 across the Philippines, Uzbekistan, and Nepal as of March 31, 2025. Currently, the business is present in 269 towns in 21 Indian states and four union territories.
As of March 2025, the company had 5068 dialysis machines serving 29,281 patients and performing over 2.88 million dialysis sessions. Max, Fortis Escorts, Care Hospitals, Wockhardt, Paras, CMRI, Jehangir Hospital, and Ruby Hall Clinic are some of the major hospitals the company partnered with to run an in-house dialysis center.
Nephrocare Health IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹443.26 | ₹451.85 | ₹11.79 | ₹666.23 |
| 2024 | ₹574.72 | ₹541.56 | ₹35.13 | ₹806.02 |
| 2025 | ₹769.92 | ₹682.48 | ₹67.10 | ₹996.46 |
| September 2025 | ₹483.97 | ₹456.07 | ₹14.23 | ₹1,193.68 |
Nephrocare Health IPO Valuation – FY2025
Check Nephrocare Health IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 13.45% |
| ROCE: | -% |
| EBITDA Margin: | 22.05% |
| PAT Margin: | 8.88% |
| Debt to equity ratio: | 0.58 |
| Earning Per Share (EPS): | ₹8.28 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 13.19% |
| Net Asset Value (NAV): | ₹59.56 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Narayana Health | 38.90 | 50.62 | NA | NA | 5,482.98 Cr. |
| Jupiter Life Line Hospitals | 29.47 | 51.27 | 14.27% | 192.55 | 1,261.55 Cr. |
| Rainbow Children Hospital | 23.97 | 64.00 | 16.56% | 134.67 | 1,515.87 Cr. |
| Dr. Agarwal’s Healthcare | 2.80 | 155.32 | NA | NA | 1,711 Cr. |
| Vijaya Diagnostics | 13.95 | 73.20 | NA | NA | 681.39 Cr. |
| Dr. Lal Path Labs | 58.48 | 50.75 | 22.30% | 244.39 | 2,461.40 Cr. |
| Metropolis Healthcare | 28.29 | 73.10 | NA | NA | 1,331.20 Cr. |
IPO Lead Managers aka Merchant Bankers
- ICICI Securities Ltd.
- Ambit Pvt.Ltd.
- IIFL Capital Services Ltd.
- Nomura Financial Advisory & Securities (India) Pvt.Ltd.
Company Address
Nephrocare Health Services Ltd.
5 th Floor, D Block, iLabs Centre,
Plot 18, Software Units Layout,
Survey No. 64, Madhapur, Shaikpet,
Hyderabad, Telangana, 500081
Phone: +91 40 4240 8039
Email: [email protected]
Website: http://www.nephroplus.com/
IPO Registrar
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://ipostatus.kfintech.com/
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