NephroPlus IPO: India's 99th mainboard issue of 2025 opens soon
What's the story
Nephrocare Health Services, the company behind the NephroPlus brand, will launch its initial public offering (IPO) on December 10. The issue will close on December 12, with anchor bidding scheduled for December 9. The dialysis services provider has set a price band of ₹438-₹460 per share for its upcoming IPO.
Fundraising details
NephroPlus's IPO: Fresh issue and offer for sale
The IPO comprises a fresh issue of shares worth ₹353.4 crore and an offer for sale (OFS) of up to 1.12 crore equity shares by promoters and existing investors. The OFS includes stakes from Investcorp, Healthcare Parent, Edoras Investment Holdings, International Finance Corporation (IFC), and 360 ONE. Currently, promoters hold 78.9% in NephroPlus while public shareholders including IFC and 360 ONE own the remaining 21.1%.
Utilization strategy
NephroPlus's plans for fresh issue proceeds
NephroPlus plans to use ₹129.1 crore from the fresh issue to open new dialysis clinics across India. The company also intends to use ₹136 crore to repay debt and the remaining amount for general corporate purposes. Founded in 2009, NephroPlus operates 519 clinics globally, including 51 centers across the Philippines, Uzbekistan and Nepal. It also runs India's largest dialysis network, with clinics in 288 cities spanning 21 states and four union territories.
Financial growth
NephroPlus's financial performance and IPO details
NephroPlus has witnessed strong financial growth in recent years. Its profit for FY25 nearly doubled to ₹67 crore from ₹35.1 crore a year ago, while revenue increased by 33.5% to ₹755.8 crore from ₹566.2 crore. For the six months ending September 2025, NephroPlus posted a profit of ₹14.2 crore on revenue of ₹473.5 crore. The allotment of shares will happen on December 15 and listing on BSE and NSE is set for December 17.