Nephro Care IPO Day 3: Subscription At 715 Times, GMP Jumps

Nephro Care India IPO aims to raise ₹41.26 crores. The IPO is open for subscription from June 28, 2024, and will close today, July 2, 2024.

Nephro Care IPO Subscription Status

On the final day of bidding, the Nephro Care India IPO has been subscribed 715 times. The retail investor category saw a subscription of 634 times, while the QIB category was subscribed 245 times. The NII category witnessed a massive subscription of 1,787 times. The IPO received bids for 223 crore shares compared to the 31.15 lakh shares on offer.

Nephro Care IPO GMP

The Nephro Care IPO GMP is currently reported at ₹165. This is an increase from the ₹155 reported earlier. With the price band set at ₹90, the estimated listing price is ₹255, indicating a potential gain of 183% per share. However, it’s crucial to remember that GMPs are merely indicative and should not be the sole factor in predicting a stock’s performance upon listing.

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Nephro Care IPO Details

The issue, comprising a fresh issue of 45.84 lakh shares, has a price band set at ₹85 to ₹90 per share. The minimum lot size for an application is 1600 shares, requiring a minimum investment of ₹144,000 by retail investors. The net proceeds from the offering will be used to set up a Multi-Speciality Hospital in Kolkata, West Bengal, and address general corporate expenses.

Before the IPO launch, the company secured ₹11.15 crores from anchor investors, allotting 12,38,400 equity shares at ₹90 per share. The anchor book saw participation from CCV Emerging Opportunities Fund – I, Persistent Growth Fund – Varsu India Growth Story Scheme 1, and Vikasa India EIF I Fund – Incube Global Opportunities. The allotment for the Nephro Care IPO is expected to be finalized on Wednesday, July 3, 2024, with shares tentatively scheduled to be listed on the NSE SME on Friday, July 5, 2024.

In the first nine months of FY 2023–24, Nephro Care India reported revenue of ₹19.89 crore and a profit (PAT) of ₹3.4 crore, compared to revenue of ₹17.09 crore and a profit (PAT) of ₹1.94 crore in FY 2022–23.

About Nephro Care India

Established in 2014, Nephro Care India Limited is a comprehensive treatment centre located in Kolkata. It offers a wide range of clinical and lifestyle solutions, as well as renal insufficiency treatment for patients. The hospital provides healthcare services to approximately 900 Chronic Kidney Disease patients every month, delivered from its main Salt Lake clinic and three satellite clinics in West Bengal.

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