NephroPlus IPO to open on opens Dec 10; check price band, issue size & other key details
Nephrocare Health Services, the operator of the NephroPlus dialysis network, will launch its initial public offering (IPO) on December 10, which shall close on December 12.
- Dec 4, 2025,
- Updated Dec 4, 2025 9:08 AM IST
Nephrocare Health Services, the operator of the NephroPlus dialysis network, will launch its initial public offering (IPO) on December 10, which shall close on December 12. The price band for the IPO is set at Rs 438 to Rs 460 per share, and the minimum application lot is 32 shares, translating to a minimum investment of Rs 14,720 for retail investors.
The total issue size stands at Rs 871.05 crore, comprising a fresh issue of Rs 353.4 crore and an offer for sale of up to 1.12 crore equity shares by existing shareholders. ICICI Securities, Ambit, IIFL Capital Services, and Nomura Financial Advisory and Securities are acting as the lead managers. Anchor bidding is scheduled for 9 December, and the IPO is the 99th mainboard offering of 2025.
Current promoter holding in NephroPlus is 78.9%, with the remainder held by public shareholders such as International Finance Corporation and 360 ONE. The offer for sale will see existing investors including Investcorp, Healthcare Parent, Edoras Investment Holdings, IFC, and 360 ONE reduce their stakes, thereby broadening the shareholder base. The IPO is expected to provide liquidity to these investors and enhance public participation.
Nephrocare intends to utilise Rs 129.1 crore from the fresh issue proceeds to open new dialysis clinics across India, while Rs 136 crore will be allocated towards debt repayment. The balance is earmarked for general corporate purposes, supporting the company’s expansion and operational capabilities.
Established in 2009, NephroPlus is the most extensively spread dialysis network in India, with 519 clinics globally as of 30 September 2025. The network includes 51 overseas centres in the Philippines, Uzbekistan, and Nepal, while in India, its presence covers 288 cities across 21 states and 4 union territories. Notably, 77% of its clinics are in tier two and tier three cities, aiming to improve healthcare accessibility.
Financial results reflect significant growth, with profit after tax for FY25 nearly doubling to Rs 67 crore from Rs 35.1 crore in the previous year. Revenue surged by 33.5% to Rs 755.8 crore from Rs 566.2 crore. For the six months ended September 2025, reported profit was Rs 14.2 crore on turnover of Rs 473.5 crore, indicating continued performance momentum.
The allotment of shares is scheduled for finalisation on 15 December, and NephroPlus is expected to list on the BSE and NSE on 17 December.
Nephrocare Health Services, the operator of the NephroPlus dialysis network, will launch its initial public offering (IPO) on December 10, which shall close on December 12. The price band for the IPO is set at Rs 438 to Rs 460 per share, and the minimum application lot is 32 shares, translating to a minimum investment of Rs 14,720 for retail investors.
The total issue size stands at Rs 871.05 crore, comprising a fresh issue of Rs 353.4 crore and an offer for sale of up to 1.12 crore equity shares by existing shareholders. ICICI Securities, Ambit, IIFL Capital Services, and Nomura Financial Advisory and Securities are acting as the lead managers. Anchor bidding is scheduled for 9 December, and the IPO is the 99th mainboard offering of 2025.
Current promoter holding in NephroPlus is 78.9%, with the remainder held by public shareholders such as International Finance Corporation and 360 ONE. The offer for sale will see existing investors including Investcorp, Healthcare Parent, Edoras Investment Holdings, IFC, and 360 ONE reduce their stakes, thereby broadening the shareholder base. The IPO is expected to provide liquidity to these investors and enhance public participation.
Nephrocare intends to utilise Rs 129.1 crore from the fresh issue proceeds to open new dialysis clinics across India, while Rs 136 crore will be allocated towards debt repayment. The balance is earmarked for general corporate purposes, supporting the company’s expansion and operational capabilities.
Established in 2009, NephroPlus is the most extensively spread dialysis network in India, with 519 clinics globally as of 30 September 2025. The network includes 51 overseas centres in the Philippines, Uzbekistan, and Nepal, while in India, its presence covers 288 cities across 21 states and 4 union territories. Notably, 77% of its clinics are in tier two and tier three cities, aiming to improve healthcare accessibility.
Financial results reflect significant growth, with profit after tax for FY25 nearly doubling to Rs 67 crore from Rs 35.1 crore in the previous year. Revenue surged by 33.5% to Rs 755.8 crore from Rs 566.2 crore. For the six months ended September 2025, reported profit was Rs 14.2 crore on turnover of Rs 473.5 crore, indicating continued performance momentum.
The allotment of shares is scheduled for finalisation on 15 December, and NephroPlus is expected to list on the BSE and NSE on 17 December.