The Nephrocare Health Services Ltd IPO is drawing attention as it closes on December 12, 2025. The company, a leading provider of dialysis services across India, has set the price band at ₹438–460 per share, aiming to raise funds to expand its network and repay borrowings.
Investor interest has been modest, with the IPO seeing a subscription of 0.47x by midday on the final day. The retail portion recorded 0.74x, the NII segment 0.35x, and the QIB portion 0.29x. Meanwhile, the employee portion received a 1.50x subscription. In total, bids were placed for 62.83 lakh shares against an offer of 1.32 crore shares.
Market Performance
The IPO has garnered moderate attention amid the broader Indian stock market trends, with investors carefully tracking healthcare sector listings. While the subscription numbers indicate tempered demand, Nephrocare’s presence in tier-II and tier-III cities positions it uniquely within the healthcare services segment.
Main News: Nephrocare Health IPO Details
Nephrocare Health Services has structured its IPO to fund growth and strengthen its financial position:
- IPO Closing Date: December 12, 2025
- Price Band: ₹438–460 per share
- Lot Size: 32 shares (minimum investment of ₹14,720 at the upper price band)
- Offer Structure: Fresh issue aimed at expanding dialysis clinics and repaying debt
- ₹129.1 crore for new clinics
- ₹136 crore for existing borrowings
- Balance for general corporate purposes
- Anchor Investors: Raised ₹260.26 crore before IPO opening
- Basis of Allotment: December 15, 2025
- Share Credit & Refunds: December 16, 2025
- Listing Date: Proposed for December 17, 2025, on BSE and NSE
The share allocation across investor categories is as follows:
- Qualified Institutional Buyers (QIBs): 49.38%
- Retail Investors: 34.85%
- Non-Institutional Investors (NIIs): 14.93%
- Employee Reservation: 83,532 shares at a ₹41 discount per share
Company Details
Founded in 2010, Nephrocare Health Services Ltd has grown into a significant provider of dialysis care, operating over 519 clinics by September 30, 2025. Its international presence includes 51 facilities in the Philippines, Uzbekistan, and Nepal, including the world’s largest dialysis clinic in Uzbekistan.
Within India, the company serves patients across 288 cities in 21 states and 4 union territories. Notably, 77.53% of centres are based in tier-II and tier-III cities, demonstrating a focus on underserved regions. Nephrocare offers comprehensive renal care from diagnostic services and haemodialysis to mobile and home-based dialysis supported by internal pharmacy operations and wellness programs.
Summary
The Nephrocare Health IPO closes today, presenting a structured approach for capital deployment toward network expansion and debt repayment. With a price band of ₹438–460, the IPO has drawn moderate investor interest so far, with retail and employee segments performing stronger relative to institutional bids. The company’s wide presence across India and selected international regions highlights its long-term focus on increasing access to dialysis services, especially in underserved areas.
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