BSE List Price : ₹491.70

NSE List Price : ₹490.00

subscription

Category	Times
QIBs	26.82x
HNIs	24.77x
Retail	2.35x
Total : 14.08x

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	1	32	₹14,720
Retail Maximum	13	416	₹191,360
S-HNI Minimum	14	448	₹206,080
S-HNI Maximum	67	2,144	₹986,240
B-HNI Minimum	68	2,176	₹1,000,960

About the Company

Nephrocare Health Services Ltd. has been providing comprehensive dialysis solutions since 2010, operating an extensive network of centers throughout India and select international locations. Its offerings include diagnostic services, haemodialysis, home-based and mobile dialysis, along with wellness programs, supported by an in-house pharmacy.

The company manages 490 centers—447 in India and 43 in the Philippines, Uzbekistan, and Nepal as of March 31, 2025. It currently operates across 269 cities in 21 states and four union territories in India.

By March 2025, Nephrocare had 5,068 dialysis machines catering to 29,281 patients and delivering over 2.88 million dialysis treatments. It collaborates with leading hospitals such as Max, Fortis Escorts, Care Hospitals, Wockhardt, Paras, CMRI, Jehangir Hospital, and Ruby Hall Clinic to operate on-site dialysis units.

Company Financial Report

_{Amount ₹ in Crores}

Period Ended	Revenue	Expense	PAT	Assets
2023	₹443.26	₹451.85	₹-11.79	₹666.23
2024	₹574.72	₹541.56	₹35.13	₹806.02
2025	₹769.92	₹682.48	₹67.10	₹996.46
September 2025	₹483.97	₹456.07	₹14.23	₹1193.68

Company Promoter

Vikram Vuppala

Know before investing

• • Strengths

  Nephrocare Health has a strong nationwide and international presence in dialysis services, supported by a large network of clinics, advanced equipment, and long-term partnerships with major hospitals.

  The company operates in a high-demand, recurring-revenue healthcare segment, providing stable growth potential and consistent cash flows through its comprehensive, end-to-end renal care model.

• • Risks

  The company is highly exposed to regulatory changes in the healthcare and dialysis sector, which could affect pricing, operations, and overall profitability.

  A significant portion of its business depends on long-term hospital partnerships and government contracts, making it vulnerable to contract renewals, pricing pressures, and competitive bids.

Objects of the Issue & Utilisation of proceeds

Capital expenditure by the Company for opening new dialysis clinics in India and

Pre-payment, or scheduled repayment, in full or part, of certain borrowings availed by the Company

General corporate purposes

Company  Address

Nephrocare Health Services Ltd.
5 th Floor, D Block, iLabs Centre,
Plot 18, Software Units Layout,
Survey No. 64, Madhapur, Shaikpet,
Hyderabad, Telangana, 500081
Phone: +91 40 4240 8039
Email: cs@nephroplus.com
Website: http://www.nephroplus.com/

IPO Registrar

Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: nephrocare.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/

IPO Review

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