• Source:PTI
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Nephro Care India IPO: Kidney care company Nephro Care India Ltd stated on Tuesday that it is aiming to raise just over Rs 41 crore via its initial public offering (IPO), which will be opened for public subscription on June 28. The price band of the issue is Rs 85-90 per share, and it will close on July 2, according to a statement from the Kolkata-headquartered healthcare company. On June 27, bids will be opened for anchor investors for one day.

The IPO involves the fresh issue of 45.84 lakh equity shares worth Rs 41.26 crore at the upper end of the price band. The company's shares will be listed on the NSE Emerge platform after the issue.

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The kidney care provider intends to use Rs 26.17 lakh crore from the IPO proceeds to construct a multi-specialty healthcare facility - Vivacity Multi Specialty Hospital - at Madhyamgram in Kolkata, West Bengal, and the remaining capital will be used for public sector enterprises.

The new hospital is planned to have 100 inpatient beds, including a 30-bed intensive care unit. The new hospital will deliver treatment services in a variety of specialties, including cardiology, medical oncology, gastroenterology, gynecology, and many others, as well as an advanced kidney transplant unit in eastern India.

In December 2023, Nephro Care India completed its pre-IPO funding round, which was attended by banking veteran and former HDFC Ltd chairman Deepak Parekh, HDFC Securities Chairman Bharat Shah, Macleods Pharmaceuticals founder and CEO Rajendra Agarwal, and others.

Nephro Care India recorded revenue of Rs 19.75 lakh crore and profit of Rs 3.4 lakh crore in the first nine months of the fiscal year 2023-24. Corporate Capital Ventures is the lead book-runner, and Bigshare Services Private Ltd is the registrar for the issue.

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(With PTI's Input)