Nephrocare Health Services, a leading company in dialysis services, has announced the launch of an IPO. Therefore, they have filed a DRHP with the SEBI.
As per the Economic Times and Angel One, the IPO will be a combination of fresh issue ₹353.4 crore and OFS of up to 1.27 crore equity shares, wherein the company’s shareholders will sell their shares.
The shareholders will be Investcorp Private Equity Fund II, Healthcare Parent Limited, Investcorp Growth Opportunity Fund, and Edoras Investment Holdings Pte. Ltd.
Other shareholders selling their stakes include Investcorp India Private Equity Opportunity Limited, the International Finance Corporation, and 360 One–managed funds, namely Series 9 and Series 10 of the Special Opportunities Fund.
As per the sources, the company has decided on Pre-IPO placement of up to ₹70.6 crore, wherein lead managers, also, if this is successful, as a result, the fresh issue size will be reduced in the IPO.
Nephrocare Health Services, founded in 2009 and operating under the NephroPlus brand, is reportedly the largest dialysis provider in Asia and the fifth largest in the world based on the number of treatments done in FY25, according to a report by F&S.
The company operates a strong network of 447 clinics in 269 cities across 21 states and 4 Union Territories, serving over 33,000 patients each year.
Initially, they established their first centre in 1994, and around 60,000 patients have been treated by them over 680 dialysis centers, in which they offer around 10 million treatments per year.
Nephrocare Health Services IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Nephrocare Health Services Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2023 | ₹443.26 | ₹451.85 | ₹11.79 |
| 2024 | ₹574.72 | ₹541.56 | ₹35.13 |
| 2025 | ₹769.92 | ₹682.48 | ₹67.10 |
Nephrocare Health Services IPO Valuation – FY2025
Nephrocare Health Services IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| 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 | 5482.98 Cr. |
| Jupiter Life Line Hospitals | 29.47 | 51.27 | 14.27% | 192.55 | 1261.55 Cr. |
| Rainbow Children Hospital | 23.97 | 64.00 | 16.56% | 134.67 | 1515.87 Cr. |
| Dr. Agarwal’s Healthcare | 2.80 | 155.32 | NA | NA | 1711.00 Cr. |
| Vijaya Diagnostics | 13.95 | 73.20 | NA | NA | 681.39 Cr. |
| Dr. Lal Path Labs | 58.48 | 50.75 | 22.30% | 244.39 | 2461.40 Cr. |
| Metropolis Healthcare | 28.29 | 73.10 | NA | NA | 1331.20 Cr. |
Objects of the Issue
- Capital expenditure by our Company for opening new dialysis clinics in India and;
- Pre-payment, or scheduled repayment, in full or part, of certain borrowings availed by our Company; and
- General corporate purposes.
IPO Lead Managers aka Merchant Bankers
- ICICI Securities Limited
- Ambit Private Limited
- IIFL Capital Services Limited
- Nomura Financial Advisory and Securities (India) Private Limited
