Nephro Care India files DRHP for SME IPO: Check Key details

Healthcare services company Nephro Care India (NCIL) has filed the draft paper (DRHP) with the National Stock Exchange of India (NSE) to raise funds through an initial public offer.

The Kolkata-based healthcare services provider plans a fresh issue of 45.84 lakh equity shares of ₹10 each, according to the draft papers.

The company will launch its IPO on the SME platform of National Stock Exchange, NSE Emerge.

Nephro Care provides an array of clinical services, lifestyle solutions, and treatments for renal insufficiency. It is a prominent healthcare company in East India, with specialisation in multiple disciplines.

Nephro Care to raise funds for setting up a multi-speciality hospital in Kolkata

According to draft papers, Nephro Care India plans to set up a multispeciality facility, Vivacity Multi Speciality Hospital, in Kolkata West Bengal.

The new healthcare facility will be a 100-bed capacity hospital. It will include a 30-bed criticial care unit which will comprise intensive care unit, HDU, RTU and NICU facilities.

Vivacity Hospital will offer medical services such as cardiology, gastroenterology, gynaecology, medical oncology, laparoscopic surgery, neurology, neurosurgery, spine surgery, nephrology and others. Its focus however will be on advanced renal transplant procedures in Eastern states.

Moreover, Vivacity will offer special mother and child care services through a dedicated unit and also run 10 OPDs to serve outpatient footfall.

The Vivacity hospital is being set up at a project cost of ₹ 36.50 crore, which will be partly funded by IPO proceeds and partly by internal accruals. The company has projected to utilise ₹26.15 crore of the net proceeds for the new facility. Vivacity Multi Specialty Hospital, a unit of Nephro Care, has taken the property on a lease of 21 years.

Deepak Parekh, Bharat Shah participate in pre-IPO funding

Former HDFC chairman Deepak Parekh, HDFC Securities chairman Bharat Shah, Macleods Pharmaceuticals founder and Managing Director Rajendra Agarwal and other investors participated in the pre-IPO funding round by Nephro Care India. The funding round was completed in December 2023.

Currently, promoters and promoters group hold 85.02% stake in Nephro Care India. Public investors hold 14.98% stake.

About Nephro Care India Ltd

Nephro Care was founded in 2014 by Dr. Pratim Sengupta in Kolkata to provide comprehensive medical services for renal patients. Nephro Care is a one-stop treatment centre based in Kolkata that offers a wide range of clinical and lifestyle solutions and services and renal insufficiency treatment to patients.

The healthcare services provider attends to around 900 chronic kidney disease (CKD) patients monthly. Its Salt Lake facility has five permanent physicians, 10 visiting consultants and a team of 70 skilled professionals.

Nephro Care India also operates satellite clinics in Salt Lake (HB 113) and Chandannagar, near Kolkata.

The company also plans to open three more satellite clinics in Alipurduar and Shyambazar in West Bengal and Balasore in Odisha.

Nephro Care India reported a revenue of ₹17.09 crore and a PAT of ₹1.94 crore in 2022-23. Its revenue was ₹3.42 crore in 2021-22 and ₹1.82 crore in 2020-21. It reported a loss of 0.98 crore in 2021-22 and a profit of ₹8.87 lakh in 2020-21.

For the first nine months of FY24, ending December 2023, Nephro Care India posted a revenue of ₹19.9 crore. Its profit (PAT) stood at ₹3.4 crore in the period.

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