Nephro Care IPO: Anchor investors, share allotment, issue objective

Nephro Care India IPO: This NSE-SME IPO was subscribed 5.5 times within hours on Day 1 of the offer period.

Nephro Care India IPO (Initial Public Offer) opened for subscription today, Friday, June 28024. The SME-based IPO is available on the NSE SME platform. 

The IPO is a book-building issue and comprises fresh issue of 45.84 lakh equity Shares with a face value of Rs 10 each in the price band of Rs 85 - Rs 90 per share. The IPO closes on July 02, 2024.

As of 1 PM, on Day 1 of the offer period, the Nephro Care India IPO received an overwhelming response from investors, and the issue was already subscribed 5.5 times.

As per the company's IPO prospectus, apart from 12.38 lakh equity shares reserved for the anchor investors; 6.19 lakh equity shares are allocated for the HNI portion, 8.25 lakh equity shares for net QIBs, 14.44 lakh equity shares to Retail (RII) portion accounts and 2.25 lakh equity shares to the employees.

 

Anchor book investors

On June 27, the company had successfully raised Rs 11.14 crore from a group of marquee investors subscription to the anchor book, including CCV Emerging Opportunities Fund - I, Persistent Growth Fund – Varsu India Growth Story Scheme 1 and Vikasa India EIF I Fund – Incube Global Opportunities.

According to a release issued by the company, CCV Emerging Opportunities Fund I subscribed to 62.92 per cent of the allotted anchor book quota; Persistent Growth Fund – Varsu India Growth Story Scheme 1 and Vikasa India EIF Fund Incube Global Opportunities subscribed to 28.04 per cent and 9.04 per cent, respectively.

In terms of number of shares, CCV Emerging Opportunities Fund I has been allotted 7.79 lakh shares, Persistent Growth Fund – Varsu India Growth Story Scheme 1 3.47 lakh shares and Vikasa India EIF Fund Incube Global Opportunities 1.12 lakh shares.
 

Objective of the Nephro Care India IPO 

The company aims to raise up to Rs 41.26 crore from the public share; off which, the Nephro Care intends to use Rs 26.17 crore for setting-up a multi-specialty healthcare facility in Kolkata, West Bengal.

The new hospital will be a unit of Nephro Care India 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, the release stated.

About Nephro Care India

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.