Nephrocare India to Raise INR 40 Cr Through IPO

Nephrocare India plans to allocate a significant portion of the IPO proceeds to establish a 100-bed hospital in Kolkata.

Nephrocare India (NCIL), a multi-specialty healthcare provider backed by industry veteran Deepak Parekh, is gearing up to raise around INR 40 Cr through an initial public offering (IPO) to fuel its expansion ambitions.

The funds will be primarily used to establish a new multi-specialty hospital in Madhyamgram, Kolkata, and for other general corporate purposes.

Nephrocare India plans to allocate a significant portion of the IPO proceeds to establish Vivacity Multi Speciality Hospital in Madhyamgram, Kolkata, a 100-bed facility that will provide comprehensive healthcare services.

The hospital will feature a 30-bed Critical Care unit equipped with an Intensive Care Unit (ICU), High Dependency Unit (HDU), Respiratory Therapy Unit (RTU), and Neonatal Intensive Care Unit (NICU).

Vivacity will offer a broad spectrum of medical services, including cardiology, medical oncology, gastroenterology, and gynecology, alongside an advanced renal transplant unit.

The hospital aims to cater to the growing healthcare needs in East India, providing high-quality medical care across various specialties.

Pre-IPO Funding Round

In December 2023, Nephrocare India completed a pre-IPO funding round of INR 8.08 Cr, attracting notable investors such as Deepak Parekh, the former chairman of HDFC, Bharat Shah, chairman of HDFC Securities, and Rajendra Agarwal, founder and MD of Macleods Pharmaceuticals.

The company planned to utilize the funds to support its ambitious plan to replicate its successful hub-and-spoke strategy by establishing 300 Nephrocare centers in India over the next eight to ten years.

Further, Nephrocare aims to open 22 high-end comprehensive kidney care facilities by March 2026, with the launch of four centers by the end of the current financial year.

Founded in 2014 by renowned nephrologist Dr Pratim Sengupta, Nephrocare India was established with a mission to provide comprehensive medical services for renal patients. Since its inception, the company has grown to become a key player in the healthcare sector in East India, focusing on delivering high-quality, specialized care.

In another IPO development in the healthcare sector, IKS Health, a digital health platform backed by the late Rakesh Jhunjhunwala's investment firm Rare Enterprises, set foot to file draft papers with SEBI for an imminent IPO last month. The company aims for an INR 2,500 Cr IPO by issuing 15% equity.

Similarly, healthtech and insurtech company Medi Assist Healthcare Service launched its IPO on January 15, making it 2024's maiden market subscription. The price band for the INR 1172 Cr IPO has been set at INR 398- 417 per equity share with a face value of INR 5.