Nephro Care IPO makes bumper debut on NSE SME; lists at 90% premium

Nephro Care India made a blockbuster debut on the NSE SME on Friday, with its shares getting listed at Rs 171, a 90 per cent premium over its issue price of Rs 90.

Post listing, Nephro Care shares moved higher to Rs 179.55, and locked in 5 per cent upper circuit, quoting 99.50 per cent higher over the issue price on the NSE SME. 

Nephro Care India's IPO aimed to raise Rs 41.26 crores, consisting solely of fresh issue shares of around 4.58 million shares. The IPO's price band was set between Rs 85 and Rs 90 per share, with a minimum lot size of 1600 shares requiring an investment of Rs 1,44,000 for retail investors.

Nephro Care India IPO had allotted 825,600 shares (18.01 per cent) to Qualified Institutional Buyers (QIBs), 619,200 shares (13.51 per cent) to Non-Institutional Investors (NIIs), 1,444,800 shares (31.52 per cent) to Retail Individual Investors (RIIs), and 1,238,400 shares (27.02 per cent) to Anchor Investors.

The issue was oversubscribed by 715.78 times. The public issue was subscribed 634.12 times in the retail category, 245.14 times in QIB, and 1,787.19 times in the NII category on the last day of its subscription window that opened on June 28, 2024 and ended on July 2, 2024. 

Corporate Capitalventures Pvt Ltd served as the book running lead manager for the Nephro Care India IPO, with Bigshare Services Pvt Ltd appointed as the registrar for the issue. Ss Corporate Securities was designated as the market maker for the IPO.

Established in 2014, Nephro Care India Limited, based in Kolkata, is a specialised treatment centre offering comprehensive clinical and lifestyle solutions for renal insufficiency patients. The facility is staffed by a team of expert doctors, visiting consultants, and skilled paramedical professionals. 

Nephro Care currently serves around 900 Chronic Kidney Disease patients monthly with a team comprising 5 permanent doctors and 70 paramedical staff.