Nephrocare Health Services IPO: Should you subscribe?
Nephrocare Health Services, India's biggest dialysis provider, is opening its IPO from December 10-12, with shares priced at ₹438-460 each.
You'll need at least ₹14,720 to buy the minimum lot of 32 shares.
The company aims to raise a total of ₹871 crore through fresh shares and an offer for sale.
What does the company do?
Nephrocare runs 447 clinics across India (and 519 globally), serving over 31,000 patients and handling 2.88 million treatments in FY25 alone.
With about a 10% share of India's dialysis market, it's also Asia's largest by treatment volume.
If fully subscribed at the top price band, Nephrocare's market cap would hit around ₹4,615 crore.
Other details
The company plans to use IPO funds for expanding clinics and paying down debt as demand for dialysis grows in India, as well as for investment in medical equipment and technology platforms and general corporate purposes.
In FY25, revenue jumped 27% to ₹769.92 crore and net profit rose by 35% to ₹67.10 crore.
Broker Anand Rathi has called it a "Subscribe Long Term," but keep in mind the valuation is on the higher side with a P/E ratio of about 60x.