Nephro Care India Limited Launches IPO, Anchor Book Fully Subscribed

Nephro Care India  (NCIL), a multi-speciality healthcare provider in East India, has launched its Initial Public Offering (IPO) completing its anchor book subscription. The company  in a press statement on Friday informed that it raised Rs. 11.14 crore through the sale of 12.38 lakh equity shares at Rs. 90 per share.

Prominent investors participated in the anchor book subscription, including CCV Emerging Opportunities Fund - I, Persistent Growth Fund – Varsu India Growth Story Scheme 1, and Vikasa India EIF I Fund – Incube Global Opportunities. CCV Emerging Opportunities Fund I subscribed to 62.92 per cent of the anchor book, while Persistent Growth Fund and Vikasa India EIF I Fund subscribed to 28.04 per cent and 9.04 per cent, respectively.

The IPO opens today, June 28, 2024, and will close on Tuesday, July 2, 2024. Nephro Care India Limited aims to raise approximately Rs. 41.26 crore from the offering. The company plans to use Rs. 26.17 crore of the net proceeds to establish 'Vivacity Multi Speciality Hospital' in Madhyamgaram, Kolkata, West Bengal, with the remaining funds allocated for general corporate purposes. The new hospital will feature 100 inpatient beds, including a 30-bed Critical Care unit with ICU, HDU, RTU, and NICU facilities. It will offer treatment services in cardiology, medical oncology, gastroenterology, gynaecology, and other disciplines, including an advanced renal transplant unit.

The price band of the issue is set at Rs. 85-90 per equity share, with a face value of Rs. 10 apiece. The IPO comprises a fresh issue of 45.84 lakh equity shares through the book-building route. Corporate Capital Ventures Private Limited is the sole Book Running Lead Manager for the issue, and Bigshare Services Private Limited is the Registrar.

The company has allocated 12.38 lakh equity shares for anchor investors, 2.3 lakh equity shares for the market maker, 2.25 lakh equity shares for employees, 6.19 lakh equity shares for the HNI portion, 8.25 lakh equity shares for net QIBs, and 14.44 lakh equity shares for the retail portion.