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15 Days Price Change

Nephrocare Health Se IPO

Closing In

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Issue Size 615.84 Cr
Profile
Price Range 438  to  460 per share
Profile
Min Investment ₹460
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Lot Size 1
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Face Value ₹2
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Draft Prospectus
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Profile
  • Basic Info
  • IPO Tentative Timetable
  • IPO Lot Size
  • Subscription Status
  • Financials
  • Profit & Loss
  • Balance Sheet
  • Cash Flow
  • Ratios
  • Growth Rates
  • Other info

Overview

We offer comprehensive dialysis care through our network of clinics – from diagnosis to treatment and wellnessprograms including haemodialysis, home and mobile dialysis, supported by pharmacy. We are India’s largestdialysis service provider in terms of number of patients served, clinics, cities covered, treatments performed,revenue, and EBITDA (excluding other income) in Fiscal 2025, and it is 4.4 times the size of the next largestorganized dialysis provider in India in terms of operating revenue in Fiscal 2024. (Source: F&S Report) In Fiscal2025, we served 29,281 patients and completed 2,885,450 treatments in India which represented approximately10% of the total dialysis patients in India. (Source: F&S Report) We are also the largest dialysis service providerin Asia in 2025 and the fifth largest globally based on the number of treatments performed in Fiscal 2025. Read More

Basic Info

Face Value 2 per share

Price 438  to  460 per share

P/E (x) 55.4

Sales( Cr.) 756

PAT( Cr.) 67

EPS 8.3

Draft Prospectus

Exchange BSE-NSE

Promoter

Company Promoters

Vikram Vuppala Bessemer Venture Partners Trust Edoras Investment Holdings Pvt. Ltd. Healthcare Parent Ltd. Investcorp Pvt Equity Fund II Investcorp Growth Opportunity Fund

Pre Issue Share Holding 75.81%

Post Issue Share Holding 63.85%

Listing Details:

Listing Price: 491.7

Listing Gain: 6.45%

Current Price: 598.7

Gain On Issue: 598.7 | 0%

GMP: 40

GMP %: 8.7 %

IPO Tentative Timetable

Opening Date Dec 10, 2025
Closing Date Dec 12, 2025
Allotment Dec 15, 2025
Refund Dec 16, 2025
Delivery of Shares Dec 16, 2025
Listing Date Dec 17, 2025

IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 32 14,720
Retail (Max) 13 416 191,360
S-HNI (Min) 14 448 206,080
S-HNI (Max) 67 2144 986,240
B-HNI (Min) 68 2176 1,000,960

Objective of the Issue

1. Capital expenditure by our Company for opening new dialysis clinics in India and 2. Pre-payment, or scheduled repayment, in full or part, of certain borrowings availed by our Company 3. General corporate purposes.

Issue

Category Nos Bid Bid (x)
QIB 3678793 101069088 27.5x
NII 2886270 70051008 24.3x
Retail 6734630 15538304 2.3x
EMP 88161 235136 2.7x
Total 13387854 186893536 14x

Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

Nephrocare Health Se Profit & Loss

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 437 566 756
Other Income 6 9 14
Total Income 443 575 770
Total Expenditure 389 465 589
Operating Profit 55 109 181
Interest 16 20 21
Depreciation 47 56 72
Exceptional Income / Expenses 0 0 0
Profit Before Tax -9 33 87
Provision for Tax 3 -2 20
Profit After Tax -12 35 67
Adjustments 0 0 0
Profit After Adjustments -12 35 67
Adjusted Earnings Per Share -13.6 40.2 76

Nephrocare Health Se Balance Sheet

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 389 414 584
Minority's Interest 0 0 0
Borrowings 81 123 96
Other Non-Current Liabilities 5 3 12
Total Current Liabilities 175 243 284
Total Liabilities 650 782 976
Fixed Assets 239 356 396
Other Non-Current Assets 86 37 34
Total Current Assets 324 390 545
Total Assets 650 782 976

Nephrocare Health Se Cash Flow

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 19 14 61
Cash Flow from Operating Activities 11 72 135
Cash Flow from Investing Activities -78 -51 -125
Cash Flow from Financing Activities 60 27 54
Net Cash Inflow / Outflow -7 48 65
Closing Cash & Cash Equivalent 14 61 126

Nephrocare Health Se Ratios

# Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -13.55 40.18 76.03
CEPS(Rs) 40.33 104.34 158.15
DPS(Rs) 0 0 0
Book NAV/Share(Rs) 433.46 461.91 643.5
Core EBITDA Margin(%) 11.11 17.82 22.05
EBIT Margin(%) 1.76 9.42 14.33
Pre Tax Margin(%) -1.96 5.86 11.57
PAT Margin (%) -2.7 6.21 8.88
Cash Profit Margin (%) 8.02 16.12 18.47
ROA(%) -1.81 4.91 7.63
ROE(%) -3.13 9 13.81
ROCE(%) 1.31 8.59 14.76
Receivable days 132.3 116.42 113.27
Inventory Days 21.93 16.82 12.69
Payable days 110.84 123.18 172.42
PER(x) 0 0 0
Price/Book(x) 0 0 0
Dividend Yield(%) 0 0 0
EV/Net Sales(x) 0.43 0.33 0.1
EV/Core EBITDA(x) 3.43 1.71 0.42
Net Sales Growth(%) 0 29.47 33.5
EBIT Growth(%) 0 594.53 102.98
PAT Growth(%) 0 398.02 90.98
EPS Growth(%) 0 396.48 89.25
Debt/Equity(x) 0.52 0.6 0.4
Current Ratio(x) 1.86 1.61 1.92
Quick Ratio(x) 1.71 1.5 1.83
Interest Cover(x) 0.47 2.64 5.2
Total Debt/Mcap(x) 0 0 0

Sihora Industries Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 34% 0% 0% 0%
Operating Profit CAGR 66% 0% 0% 0%
PAT CAGR 91% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR NA% NA% NA% NA%
ROE Average 14% 7% 7% 7%
ROCE Average 15% 8% 8% 8%

Company Contact Information

Nephrocare Health Services Ltd.

Kishore Kathri

+91 40 4240 8039

cs@nephroplus.com

5th Floor, D Block Ilabs Centre, Plot 18, Software Units Layout Survey No. 64, Madhapur,, Shaikpet

IPO Lead Manager(s)

Nephrocare Health Services Ltd.

ICICI Securities Ltd

Ambit Pvt Ltd.

IIFL Capital Services Ltd.

Nomura Financial Advisory & Securities (India) Pvt Ltd.

Registrar Info

Nephrocare Health Services Ltd.

KFIN Technologies Ltd.

301, The Centrium, 3rd Floor, 57, Lal Bahadur Shastri Road, Nav Pada, Kurla (West), Kurla, Mumbai, Mumbai, Maharashtra, India, 400070

Frequently Asked Questions

All You Need To Know About IPO

When you leave without vesting, generally unvested ESOPs are cancelled. Vested ESOPs usually can be exercised after you depart, often within 3 to 6 months, depending on the company's ESOP plan.

For companies listed on a stock exchange, you can sell the shares any time after you exercise the ESOP option and the shares are in your demat account. If the company is unlisted or otherwise a startup, you can only sell the shares if and when the company announces a buyback or has a process for secondary sales.

Whenever you exercised your options to hold shares, you entered into a market risk situation, and if the valuation of the company drops, so do the shares.

Yes. ESOPs are valuable to the employer in that the employer is able to retain the best talent, align employee interests with company goals, and preserve cash while rewarding performance.

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