Nephro Care India IPO Day 2: Issue booked over 40 times so far, retail investors lead

Nephro Care India Ltd’s initial public offering (IPO) saw significant demand on the second day of bidding and was booked 40 times so far. The Kolkata-based healthcare firm received bids for over 12.47 crore shares compared to the 31.15 lakh shares on offer, leading to a subscription of 40.03 times.

Retail investors led the demand for the issue, placing bids for 8.90 crore shares compared to 14.44 lakh shares set aside for them. The issue was subscribed 61.6 times in the retail category.

Non-institutional Investors (NIIs) placed bids for 3.55 crore shares against the 6.19 lakh shares allocated to them. The NII category of the IPO was booked 57.4 times.

Qualified Institutional Buyers (QIB) placed bids for 89,600 shares against 8.25 lakh shares set aside for the category. The issue was booked 0.11% by QIBs.

Nephro Care India IPO: Price band, offer size

Nephro Care India's public offer is aimed at raising ₹41.26 crore. The book-built issue consists of a fresh issue of 45.84 lakh shares, offered at a price band in the range of ₹85 to ₹90 per share.

Nephro Care India IPO: Lot size and minimum investment

Retail investors can place bids for a minimum lot size of one lot of 1600 shares, which aggregates to an investment of ₹1,44,000. The minimum lot size to bid for Nephro Care India IPO for high net-worth investors (HNIs) is two lots or 3,200 shares, totalling a minimum investment of ₹2,88,000 at the upper price band.

Nephro Care India IPO: Allotment date, listing date

The bidding window for Nephro Care India IPO will be open from June 28 to July 2. The share allotment status of the public issue is likely to be finalised by Wednesday, July 3. After the allotment of shares is finalised, successful bidders will receive shares of the company in their demat accounts on Thursday, July 4. Refunds for bidders who have not been allotted shares against their bids will also be initiated on the same day.

Nephro Care India’s shares are likely to be listed on the NSE SME platform on Friday, July 5.

Nephro Care India Limited IPO objective

The net proceeds from the issue of shares in Nephro Care India IPO will be used for setting up a multi-speciality hospital, Vivacity Multi Specialty Hospital, in Kolkata.

A portion of the money raised in the IPO will also be used for general corporate purposes.

About Nephro Care India IPO

Nephro Care India Limited, incorporated in 2014, offers a wide range of clinical and lifestyle solutions through its treatment centre in Kolkata. The hospital currently provides services to over 900 chronic kidney disease patients every month.