Nephro Care India Ltd stock makes stellar debut on NSE Emerge, lists at 90% premium

Nephro Care India Limited ("NCIL" or "The Company"), a leading multi-speciality healthcare provider in East India, today made a spectacular debut on the NSE Emerge platform. The company's stock becomes the first to register more than 2 crore shares awaiting purchase amidst bumper opening. NCIL was listed at Rs. 171/-, at an upper circuit premium of 90% over the fixed price band of Rs. 90/- and traded at Rs. 179.55 at an upper circuit with a 99.50% gain over the IPO price.

Earlier this week, the issue received an overwhelming response from the investors, as the QIB portion was subscribed 245.14 times, the NII portion was subscribed 1787.56 times, the Retail individual investors (RII) quota was subscribed 634.12 times, and the Employees portion was subscribed 20.44 times, bringing the overall subscription to 715.85 times until the final day of bidding on July 02, garnering record bids worth over Rs. 20,070 crore.

The IPO comprised a fresh issue of 45.84 Lakh Equity Shares, having a face value of Rs. 10/- through the book-building route. Corporate Capital Ventures is the sole Book Running Lead Manager, and Bigshare Services Private Limited is the Registrar for the issue.

The anchor book of the IPO was subscribed to by a group of high-profile investors, including CCV Emerging Opportunities Fund - I, Persistent Growth Fund - Varsu India Growth Story Scheme 1 and Vikasa India EIF I Fund - Incube Global Opportunities. The company has allotted 12.38 Lakh equity shares for the Anchor investors, 2.3 Lakh equity shares for the market maker, 2.25 Lakh equity shares for the employees, 6.19 Lakh equity shares allocated for the HNI portion, 8.25 Lakh equity shares for net QIBs, and the Retail (RII) portion accounts for 14.44 Lakh equity shares. The lot size is 1,600 shares.

The Kolkata-headquartered healthcare provider aims to raise Rs. 41.26 crore from the issue and intends to utilise Rs. 26.17 crore of net proceeds from the IPO to set up a multi-speciality healthcare facility, 'Vivacity Multi Speciality Hospital', at Madhyamgaram in Kolkata, West Bengal, and the company plans to use the remaining capital for general corporate purposes. The new hospital will be a unit of Nephro Care India Limited and is proposed to include 100 inpatient beds, including a 30-bed Critical Care unit having ICU, HDU, RTU and NICU facilities. Vivacity will offer treatment services in various disciplines such as cardiology, medical oncology, gastroenterology, gynaecology and many others, including an advanced renal transplant unit in East India.

In December 2023, Nephro Care India Limited successfully closed the pre-IPO funding round, which saw the participation of banking veteran and former chairman of HDFC Ltd, Deepak Parekh, chairman of HDFC Securities Bharat Shah, and Rajendra Agarwal, Founder and MD of Macleods Pharmaceuticals, among others.

The Kolkata-headquartered healthcare provider offers a wide range of clinical and lifestyle solutions and renal insufficiency treatment to patients. The treatment framework at NCIL covers the entire range of lifestyle, physiological and spiritual aspects of wellness. Nephro Care operates on a multidimensional patient engagement framework comprising programs and facilities such as Mukti, Home Dialysis, Home Care and Diagnostics. NCIL's clinics are operated on a 'hub-and-spoke' model, where each clinic is independent and individually well-equipped with skilled healthcare professionals and advanced infrastructure to serve the healthcare needs of the patients and ensure their rehabilitation.

Nephro Care was founded in the year 2021 by one of the leading nephrologists in India, Dr. Pratim Sengupta, in Kolkata, with the objective of providing comprehensive medical services for renal patients. With over 20 years of active clinical experience, Dr. Sengupta, has successfully performed more than 1,000 kidney transplants till now and is a pioneer in holistic renal care through a combination of clinical intervention, yoga and lifestyle support. Dr. Sengupta has been awarded the "Bharat Jyoti Award" for meritorious services, outstanding achievement and remarkable role by the India International Friendship Society in 2019.

Source : Equity Bulls

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