Nephrocare Health Services IPO Price: ₹438 to ₹460 per share
IPO Dates: 10th December 2025 – 12th December 2025
Company Overview
Incorporated in 2010, Nephrocare Health Services Ltd. provides end-to-end dialysis care through an extensive network of clinics across India and select international markets. The company’s services include diagnosis, haemodialysis, home and mobile dialysis, wellness programs, and an in-house pharmacy, offering comprehensive renal care solutions.
Product & Brand Portfolio
As of September 30, 2025, Nephrocare operated 519 clinics, including 51 clinics across the Philippines, Uzbekistan, and Nepal. This network also includes the world’s largest dialysis clinic in Uzbekistan.
In India, the company has a presence across 288 cities in 21 states and 4 union territories, with 77.53% of its clinics located in tier II and tier III cities, helping bridge critical healthcare gaps in underserved regions.
Patient Footprint & Treatment Capacity
- During Fiscal 2025, Nephrocare served 29,281 patients and completed 2,885,450 dialysis treatments, representing about 10% of India’s total dialysis patient base.
- By September 30, 2025, the company had served 31,046 patients and completed 1,591,377 treatments in India.
- As of the same date, Nephrocare operated 5,562 dialysis machines, supporting large-scale treatment delivery.
Strategic Partnerships
Nephrocare collaborates with several leading hospital chains to run in-house dialysis centers, including:
- Max Super Speciality Hospital
- Fortis Escorts Hospitals
- Care Hospitals
- Wockhardt Hospitals
- Paras Healthcare
- The Calcutta Medical Research Institute
- Jehangir Hospital
- Ruby Hall Clinic
These partnerships strengthen its reach and enhance patient accessibility to quality renal care.
Competitive Strengths
- India’s and Asia’s largest dialysis chain with market leadership across regions
- Asset-light model enabling cost efficiencies and high operational excellence
- Strong clinical protocols and advanced technology driving clinical quality
- Proven track record of organic growth and successful acquisitions in India and abroad
- Patient-centric leadership supported by experienced management and marquee investors
- Commitment to ESG, driving sustainable dialysis operations
- Consistent growth, profitability, and returns backed by scale and efficiency
Bidding Starts In
Nephrocare Health Services IPO Specifics:
| IPO Date | December 10, 2025 to December 12, 2025 |
| Face Value | ₹2 per share |
| Price Band | ₹438 to ₹460 per share |
| Lot Size | 32 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,89,35,819 shares (aggregating up to ₹871.05 Cr) |
| Fresh Issue | 76,82,717 shares (aggregating up to ₹353.40 Cr |
| Offer for Sale | 1,12,53,102 shares of ₹2 (aggregating up to ₹517.64 Cr) |
| Employee Discount | ₹41.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 9,26,50,799 shares |
| Share Holding Post Issue | 10,03,33,516 shares |
Nephrocare Health Services IPO Timetable (Important Dates)
| IPO Open Date | Wed, Dec 10, 2025 |
| IPO Close Date | Fri, Dec 12, 2025 |
| Tentative Allotment | Mon, Dec 15, 2025 |
| Initiation of Refunds | Tue, Dec 16, 2025 |
| Credit of Shares to Demat | Tue, Dec 16, 2025 |
| Listing Date | Wed, Dec 17, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Dec 12, 2025 |
Nephrocare Health Services IPO Lot Size
Bidders have the opportunity to bid for a minimum of 14 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 32 | ₹14,720 |
| Retail (Max) | 13 | 416 | ₹1,91,360 |
| S-HNI (Min) | 14 | 448 | ₹2,06,080 |
| S-HNI (Max) | 67 | 2,144 | ₹9,86,240 |
| B-HNI (Min) | 68 | 2,176 | ₹10,00,960 |
Nephrocare Health Services IPO Reservation
| QIB Shares Offered | Not less than 50% of the Net Offer |
| Retail Shares Offered | Not more than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Net Offer |
Nephrocare Health Services IPO Financial Information
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 1,193.68 | 996.46 | 806.02 | 666.23 |
| Total Income | 483.97 | 769.92 | 574.72 | 443.26 |
| Profit After Tax | 14.23 | 67.10 | 35.13 | -11.79 |
| EBITDA | 110.31 | 166.64 | 99.66 | 48.60 |
| NET Worth | 716.06 | 594.21 | 423.55 | 384.73 |
| Reserves and Surplus | 704.14 | 578.68 | 408.57 | 383.50 |
| Total Borrowing | 207.04 | 225.80 | 243.37 | 196.21 |
Key Performance Indicator – Nephrocare Health Services IPO
| KPI | Values |
|---|---|
| ROE | 13.45% |
| ROCE | 18.67% |
| RoNW | 13.19% |
| PAT Margin | 8.88% |
| EBITDA Margin | 20.55% |
| Price to Book Value | 7.72 |
| Market Capitalization | ₹4,615.34 Cr. |
| EPS | 7.24 |
| P/E (x) | 63.52 |
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
News Desk
