Nephro Care IPO listing on Friday: Check subscription, allotment and refund details

Nephro Care India, a Kolkata-based healthcare service provider, is scheduled to debut on the Dalal Street tomorrow, July 5. The company's shares will be listed on the NSE Emerge platform.

Nephro Care India IPO allotment status finalised

The allotment status of Nephro Care India IPO was finalised on Wednesday, July 3. The public issue, which was open for subscription on three working days ending July 2, was booked 716 times. The IPO subscribers can check their allotment status through the following steps:

• Go to the website of IPO registrar BigShare Services (https://ipo.bigshareonline.com/ipo_status.html)
• Under the 'Company Selection' dropdown menu, click on Nephro Care India IPO
• In 'Selection Type', click on PAN, beneficiary ID or application number
• Feed the selected detail, which could be your PAN, beneficiary ID or application number
• Enter the captcha and click on submit button

The IPO subscribers who could not be allotted the shares will be paid back their subscription amount. The refund process was to be initiated by the company starting today (July 4).

Nephro Care India IPO subscription details

The company's public issue was subscribed 715.85 times on Tuesday -- the final day of bidding -- helped by heavy participation from institutional investors.

The ₹41.26 crore initial share sale received bids for 2,23,00,38,400 shares against 31,15,200 shares on offer.

The portion for non-institutional investors received 1,787.56 times subscription, the quota for retail individual investors subscribed 634.12 times, as per the NSE data.

Additionally, the quota for qualified institutional buyers received 245.14 times subscription, and employee portion was subscribed 20.44 times, bringing the overall subscription to 715.85 times.

The Kolkata-headquartered healthcare provider said on Friday raised ₹11.14 crore from anchor investors.

The IPO comprised of fresh issuance of 45.84 lakh equity shares. Shares were available for public subscription in the range of ₹85-90 per scrip.

The kidney care provider intends to utilise ₹26.17 crore of the IPO proceeds for setting-up a multi-speciality healthcare facility -- Vivacity Multi Speciality Hospital -- at Madhyamgram near Kolkata, while the remaining capital will be used for general corporate purposes.

The new hospital is proposed to include 100 in-patient beds, including a 30-bed critical care unit. The new hospital 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 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 Founder and MD of Macleods Pharmaceuticals Rajendra Agarwal, among others.

In terms of financials, Nephro Care India posted a revenue of ₹19.75 crore and earned a profit (PAT) of ₹3.4 crore during the first nine months of FY24.

Corporate Capital Ventures was the book running lead manager, and Bigshare Services was the registrar for the issue.