The Nephrocare Health IPO, worth ₹871.05 Cr, is a book-built IPO. The IPO is a fresh issue of 76,82,717 equity shares of ₹353.40 Cr, along with an offer-for-sale of 1,12,53,102 shares of ₹517.64 Cr.
The issue will be available for subscription from 10 December 2025 and will last till 12 December 2025. The allotment is to be finalised on 15 December 2025, while the shares are expected to list on both BSE and NSE on 17 December 2025.
The IPO’s price band is within the range of ₹438 and ₹460 per share. The minimum bid size is 32 shares, requiring retail investors to invest at least ₹14,720, calculated at the upper price. The minimum application size for the sNII is 14 lots, 448 shares, costing ₹2,06,080, and for the bNII, it stands at 68 lots, 2,176 shares, amounting to ₹10,00,960.
Nephrocare Health IPO Details
Mentioned below are the Nephrocare Health IPO details in India:
| Bid Opens On | 10 December 2025 |
| Bid Closes On | 12 December 2025 |
| Face Value | ₹2 |
| Price Band | ₹438–₹460/per share |
| Issue Price | – |
| IPO Lot Size | 32 shares |
| Sale Type | Fresh capital & Offer-for-sale |
| Offer for Sale | 1,12,53,102 shares (₹517.64 Cr) |
| Fresh Issue | 76,82,717 shares (₹353.40 Cr) |
| Issue Type | Book-built |
| Listing | BSE & NSE |
| Total Issue Size (₹ Cr) | 1,89,35,819 shares ( ₹871.05 Cr) |
| Reservation for Market Maker | – |
| Net Offered to the Public | – |
| Minimum Investment(₹) | ₹14,720 (for retail investors) |
| Retail Discount | – |
| Employee Discount | – |
Nephrocare Health IPO Timeline
Check out the complete Nephrocare Health IPO schedule:
| Bidding Opens | 10 December 2025 |
| Bidding Closes | 12 December 2025 |
| Shares Allotment | 15 December 2025 |
| Initiation of Refunds | 16 December 2025 |
| Shares Credited to demat | 16 December 2025 |
| Listing Date | 17 December 2025 |
| Deadline for UPI Mandate Confirmation | 5 PM, 12 December 2025 |
Nephrocare Health Limited Key Performance Indicator
Here’s a view of Nephrocare Health’s key financial metrics over its recent financial performance.
| KPIs | 2025 | 2024 | 2023 |
| ROE (%) | 13.45 | 8.76 | -3 |
| ROCE (%) | 18.67 | 10 | 0.44 |
| Debt-Equity Ratio (in times) | – | – | – |
| RoNW (%) | 13.19 | 8.69 | (3.02 |
| PAT Margin (%) | 8.88 | 6.21 | -2.7 |
| EBITDA Margin (%) | 22.05 | 17.6 | 11.11 |
| Price-Book Value | – | – | – |
Nephrocare Health Ltd. Financials
| Aspect | 2025 (₹ Cr) | 2024 (₹ Cr) | 2023 (₹ Cr) |
| Revenue | 755.81 | 566.16 | 437.30 |
| Total Asset | 996.460 | 806.02 | 666.23 |
| Profit/Loss | 67.10 | 35.13 | (11.79) |
Nephrocare Health IPO: Grey Market Premium
Nephrocare Health IPO GMP today is at flat ₹0. A rising GMP normally reflects improving market sentiment and shows that more investors are beginning to show interest in the issue.
| Date | GMP (₹) | Estimated Listing Price | Estimated Listing Gain | Trend |
| 27 November 2025 | ₹0 | ₹460 | (0.00%) | – |
| 26 November 2025 | ₹0 | ₹ (0.00%) | – | – |
Note: An IPO GMP is an unofficial indicator of an IPO, and it is subject to change based on demand, market sentiment and investor interest before the issue opens.
Nephrocare Health IPO Reservation
The Nephrocare Health IPO shares are reserved for the various investor categories as follows.
| Category | % of Shares Offered | Shares offered |
| QIBs | Maximum 50% | – |
| Retail Investors | Minimum 35% | – |
| NII (HNI) | Minimum 15% | – |
| Total Shares Offered | 100% | – |
Nephrocare Health IPO Lot Size
Below are the minimum investment requirements for each investor category, along with a breakdown of the Nephrocare Health IPO lot size.
| Application | Lot Size | Shares | Amount(in ₹) |
| Retail Investors (Minimum) | 1 | 32 | 14,720 |
| Retail Investors (Maximum) | 13 | 416 | 1,91,360 |
| S-HNI (Minimum) | 14 | 448 | 2,06,080 |
| S-HNI (Maximum) | 67 | 2,144 | 9,86,240 |
| B-HNI (Minimum) | 68 | 2,176 | 10,00,960 |
Nephrocare Health IPO Anchor Investors Details
Details regarding the reservation for anchor investors in the Nephrocare Health IPO are as follows:
| Bidding Date | 9 December 2025 |
| Offered Shares | – |
| Anchor Investor Portion Size (₹ Cr.) | – |
| 30-Day lock-in period for 50% of the shares | – |
| 90-Day lock-in period for the remaining shares | – |
Nephrocare Health IPO Prospectus
Review the Nephrocare Health IPO official filings for more details about the IPO submitted to SEBI.
About Nephrocare Health Ltd.
| Founded in | 18 December 2009 |
| Chairman & Managing Director | Vikram Vuppala |
| Services/Products Offered | Clinics network, including Diagnosis, treatment, and wellness programs |
| Book running lead managers | ICICI Securities Ltd., Ambit Private Ltd., IIFL Capital Services Ltd., & Nomura Financial Advisory and Securities (India) Private Ltd. |
| Registrar of the issue | KFin Technologies Limited |
Nephrocare Health IPO: Objectives
Nephrocare Health Ltd. plans to utilise the capital generated from the IPO in the following manner.
| Particulars | Amount (in ₹ lakh) |
| Funding for the establishment of new dialysis clinics | 129.11 |
| Payment of borrowings | 135.91 |
| General corporate purpose | – |
Nephrocare Health Ltd.: Strengths
- Leading in Dialysis Care: The company has established a strong reputation in kidney treatment, supported by an expanding network of dialysis centres across the country.
- Skilled Healthcare Professionals: The company’s operations are driven by experienced nephrologists, well-trained technicians, and qualified nursing teams, who help in maintaining treatment standards and long-term patient trust.
- Multiple Business Formats: The company runs its services through various models, including standalone centres, hospital tie-ups, and public–private partnership units.
- Emphasis on Quality and Technology: The company uses advanced equipment, strict medical processes, and digital systems to enhance accuracy, safety, and overall treatment quality.
Nephrocare Health Ltd.: Risks
- Risks Related to Service Quality and Compliance: Failure to maintain high medical standards in dialysis care could subject the company to legal action, patient dissatisfaction, and damage to its brand and financial health.
- Dependence on Expert Medical Professionals: The company’s operations depend on trained doctors, nurses, and technicians, and difficulty in hiring or retaining them can impact service delivery and overall functioning.
- Barriers in Geographic Expansion: Scaling operations into new regions, whether within India or overseas, may face regulatory constraints, infrastructure challenges, and operational complexities.
- Potential Disruptions in Operations and PPP Agreements: Breakdown in standalone, captive, or PPP centres or inability to meet contract conditions may cause financial losses, penalties, or loss of future projects.
Nephrocare Health IPO Review
Nephrocare Health Limited offers a well-established dialysis network backed by strong medical expertise and steady financial growth. However, the IPO shows no listing premium in the grey market, and the business relies heavily on the company’s skilled staff and compliance standards. The outlook is stable, but the gains will depend on long-term expansion and operational execution rather than short-term listing upside.
Other Recent IPO List
Explore the list of Indian IPOs, including the currently open for bidding and the ones scheduled to launch soon in 2025:
| Vidya Wires IPO | Milky Mist Dairy IPO |
| Aequs IPO | ICICI Prudential IPO |
| Helloji Holidays IPO | Invicta Diagnostic IPO |
| Neochem Bio IPO | Meesho IPO |
Nephrocare Health IPO FAQs
The Nephrocare Health IPO is a mainboard public issue worth ₹871.05 Cr, featuring both fresh equity shares and an offer-for-sale. The company operates a large dialysis network across India, offering kidney care services through standalone, hospital-based, and PPP centres.
The interested investors can apply through supported brokers or banking apps using ASBA or UPI. After selecting the IPO, choose the lot size, enter the UPI details, approve the mandate, and wait for allotment updates.
Nephrocare Health Ltd. has a strong market presence and rising financial performance, but its growth depends on maintaining clinical standards and securing skilled medical staff. Listing gains may be uncertain due to flat GMP, making it more suitable for investors with a long-term view.
The Nephrocare Health IPO, with a current GMP of ₹0, has no major anticipated listing premium. The returns will depend more on the company’s long-term business performance, network expansion, and consistent profitability rather than immediate market gains.
The Nephrocare Health IPO opens for subscription on 10 December 2025 and closes on 12 December 2025.
The Nephrocare Health IPO minimum lot size for retail investors is 32 shares, requiring a minimum application amount of ₹14,720 at the upper price band.
The allotment for the Nephrocare Health IPO is expected to be finalised on 15 December 2025, followed by refunds and demat credit on 16 December 2025.
The shares of Nephrocare Health are scheduled to list on BSE and NSE on 17 December 2025, subject to market conditions.
