Nephrocare Health Limited Link 
Allotment
The Nephrocare Health Services Ltd. IPO is a book-built issue of ₹871.05 crore, comprising a fresh issue of 0.77 crore shares aggregating to ₹353.60 crore and an offer for sale of 1.13 crore shares aggregating to ₹517.45 crore.
The IPO was open for bidding from December 10, 2025, to December 12, 2025, with the allotment finalized on December 15, 2025. The shares were subsequently listed on BSE and NSE on December 17, 2025.
The price band was set at ₹460 per share, with a lot size of 32 shares. The minimum investment for retail investors was ₹14,720 (32 shares at the upper price). For small NII (sNII) investors, the minimum application was 14 lots (448 shares), totaling ₹2,06,080, and for big NII (bNII) investors, it was 68 lots (2,176 shares), totaling ₹10,00,960.
The issue also included a reservation of up to 83,532 shares for employees, offered at a discount of ₹41 per share on the issue price.
ICICI Securities Ltd. acted as the book running lead manager, while Kfin Technologies Ltd. served as the registrar for the IPO.
For detailed information, refer to the Nephrocare Health IPO Draft Red Herring Prospectus (DRHP).
₹460
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Open
₹460
HIgh - Low
₹460
Previous Close
₹460
Total Traded Value
0
52 Weeks High
₹460
52 Weeks Low
₹460
Updates On
Dec 1, 2025
IPO. Open
Dec 10, 2026
IPO. Close
Dec 12, 2026
IPO. Price
₹460.00
IPO Market price
₹4,615.34 Cr
IPO Details
| IPO Date | 17 Dec |
| IPO Listing Date | 17 Dec |
| IPO Face Value | ₹2 per share |
| IPO Price Range | ₹460.00 |
| IPO Issue Size | 1,89,43,020 shares |
| IPO Sale Type | Fresh Capital & OFS |
| Employee Discount | ₹41.00 per equity share |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | BSE, NSE Platform |
| Share Holding Pre Issue | 9,26,50,799 shares |
IPO Timeline
| IPO Open Date | 10 Dec |
| IPO Close Date | 12 Dec |
| IPO Allotment (Tentative) | 15 Dec |
| Refunds | 16 Dec |
| Credit to Demat Account | 16 Dec |
| IPO Listing Date | 17 Dec |
IPO Reservation
| Category | Offer |
|---|---|
| QIB Shares Offered | 94,29,865 Shares |
| NII (HNI) Shares Offered | 28,28,960 Shares |
| Retail Shares Offered | 66,00,907 Shares |
IPO Lot Size
Investors can bid for a minimum of 32 shares, and in multiples of 32 shares thereafter.
| Application | Lots | Share | 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 |
Incorporated in 2010, Nephrocare Health Services Ltd. provides end-to-end dialysis care through a wide network of clinics across India and select international markets. The company’s services include diagnosis, haemodialysis, home and mobile dialysis, wellness programs, and are supported by an in-house pharmacy.
As of September 30, 2025, Nephrocare operated 519 clinics, including 51 clinics across the Philippines, Uzbekistan, and Nepal, which includes the world’s largest dialysis clinic in Uzbekistan. In India, the company had a presence across 288 cities in 21 States and 4 Union Territories, with approximately 77.53% of clinics located in tier II and tier III cities, serving critical healthcare needs in underserved regions.
During Fiscal 2025, Nephrocare served 29,281 patients and completed 2,885,450 dialysis treatments, accounting for roughly 10% of India’s total dialysis patient base. By September 30, 2025, it had served 31,046 patients and completed 1,591,377 treatments in India. The company operates 5,562 dialysis machines as of the same date.
Nephrocare has also formed strategic partnerships with leading hospital chains such as Max Super Speciality Hospital, Fortis Escorts Hospitals, Care Hospitals, Wockhardt Hospitals, Paras Healthcare, The Calcutta Medical Research Institute, Jehangir Hospital, and Ruby Hall Clinic to operate in-house dialysis centers.
Competitive Strengths
Largest dialysis chain in India and Asia, with market leadership across geographies
Scale and asset-light model driving cost efficiencies and operational excellence
Commitment to clinical excellence and quality through standardized protocols and advanced technology
Organic growth complemented by a proven track record of acquisitions and integration in India and internationally
Patient-centric leadership and a seasoned management team backed by marquee investors
Focus on sustainable dialysis leadership with strong environmental, social, and governance (ESG) measures
Demonstrated track record of sustainable growth, profitability, and returns
Company Financials (Consolidated)
| Assets | 1,193.68 | 996.46 | 806.02 |
| Total Income | 483.97 | 769.92 | 574.72 |
| Profit After Tax | 14.23 | 67.1 | 35.13 |
| EBITDA | 110.31 | 166.64 | 99.66 |
| NET Worth | 716.06 | 594.21 | 423.55 |
| Reserves and Surplus | 704.14 | 578.68 | 408.57 |
| Total Borrowing | 207.04 | 225.8 | 243.37 |
Key Performance Indicator (KPI)
| ROE | 13% |
| ROCE | 19% |
| Debt/Equity | - |
| RoNW | 13.19% |
| PAT Margin | 8.88% |
| EBITDA Margin | 22.05% |
| Price to Book Value | 7.72 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | - |
| 2 | To meet out the expenses of Working Capital Requirement | - |
| 3 | To meet out the General Corporate Purposes; | 60.05 |
| 4 | Offer for Sale (OFS) | - |
Contact Details
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: cs@nephroplus.com
Website: http://www.nephroplus.com/
Detail Registrar
IPO Registrar
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: nephrocare.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
The Nephrocare Health IPO was a ₹871.05 crore book-built issue, open from December 10–12, 2025, and successfully listed on BSE and NSE on December 17, 2025.
The issue price was fixed at ₹460 per share with a lot size of 32 shares, making the minimum retail investment amount ₹14,720 at the issue price.
The IPO included a fresh issue worth ₹353.60 crore and an offer for sale of ₹517.45 crore, aimed at clinic expansion, debt repayment, and general corporate purposes.
Nephrocare provides end-to-end dialysis care through an extensive network of clinics in India and select international markets, serving millions of treatments annually using an asset-light operating model.
The company is India’s largest dialysis chain, reporting strong FY25 growth with 34% revenue and 91% PAT increase, supported by scalable operations, partnerships, and experienced management.
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