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Nephro Care India IPO subscribed nearly 716 times

Ruchika SharmaWritten by Ruchika Sharma Published On 2024-07-04T14:30:00+05:30  |  Updated On 4 July 2024 4:11 PM IST
IPOs in global biopharma industry surge to USD 8.52 billion in 2024: Report
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New Delhi: Nephro Care India's initial public offering (IPO) was subscribed 715.85 times on Tuesday, largely driven by robust participation from institutional investors.

Non-institutional investors subscribed 1,787.56 times, while retail individual investors subscribed 634.12 times, according to data from the NSE.

The Rs 41.26 crore initial share sale received bids for 2,23,00,38,400 shares against 31,15,200 shares on offer.

Additionally, the quota for qualified institutional buyers received 245.14 times subscription, and employee portion was subscribed 20.44 times, bringing the overall subscription to 715.85 times, as per a PTI report.
The Kolkata-headquartered healthcare provider said on Friday raised Rs 11.14 crore from anchor investors.
The IPO comprises fresh issuance of 45.84 lakh equity shares.
Shares were available for public subscription in the range of Rs 85-90 per scrip.
The kidney care provider intends to utilise Rs 26.17 crore of the IPO proceeds for setting-up a multi-speciality healthcare facility -- Vivacity Multi Speciality Hospital -- at Madhyamgram near Kolkata, while the remaining capital will be used for general corporate purposes.
The new hospital is proposed to include 100 in-patient beds, including a 30-bed critical care unit. The new hospital will offer treatment services in various disciplines such as cardiology, medical oncology, gastroenterology, gynaecology, and many others, including an advanced renal transplant unit in East India.
In December 2023, Nephro Care India 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 Founder and MD of Macleods Pharmaceuticals Rajendra Agarwal, among others.
In terms of financials, Nephro Care India posted a revenue of Rs 19.75 crore and earned a profit (PAT) of Rs 3.4 crore during the first nine months of FY24.
The shares of the company will be listed on NSE Emerge platform.
Corporate Capital Ventures is the book running lead manager, and Bigshare Services is the registrar for the issue.

Read also: Nephrocare India raises Rs 8.08 crore in pre-IPO round

initial public offeringIPOnephro care indiavivacity multi speciality hospital
Source : with inputs
Ruchika Sharma
Ruchika Sharma

    Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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