Nephrocare Health Services Share Price In Focus As Stock Debuts On D-Street Today
Investors can expect potential gains of up to 9% when the IPO of Nephrocare Health is listed on the bourses on December 17.
The initial public offering (IPO) of Nephrocare Health Services saw strong demand, closing with an overall subscription of 13.96 times on the third and final day of bidding on Dec. 12. The issue received bids for 18,68,94,592 shares, far exceeding the 1,33,87,854 shares on offer.
The company initiated refunds and transfer of shares to the demat accounts on Dec. 16. Shares of Nephrocare Health Services will debut on the BSE and NSE on Dec. 17.
With the listing around the corner, here is a closer look at Nephrocare Health Services’ IPO, including its grey market premium (GMP), price band, issue size and other important details.
Nephrocare Health Services IPO GMP Today
According to InvestorGain, the grey market premium (GMP) for the Nephrocare Health IPO stood at Rs 37 as of 7:30 a.m. on Dec. 17. Based on the upper end of the IPO price band of Rs 460, the estimated listing price for the IPO shares stands at Rs 502 The latest GMP indicates a potential listing gain of 9.13% over the upper limit of the issue price.
Note: GMP does not represent official data and is based on speculation.
Nephrocare Health Services IPO Key Details
The Nephrocare Health Services IPO was a book-building issue worth Rs 871.05 crore, comprising a fresh issue of 77 lakh shares, aggregating to Rs 353.40 crore, and an offer-for-sale (OFS) portion of 1.13 crore shares, worth Rs 517.64 crore. The Nephrocare Health Services IPO price band was fixed in the range of Rs 438 to Rs 460 per share.
ICICI Securities Ltd. is the book-running lead manager for the issue, while Kfin Technologies Ltd. is the registrar.
Nephrocare Health Services Business And Financials
Nephrocare Health Services, founded in 2010, offers dialysis care through a broad network of clinics in India and select international markets. Its services include diagnosis, haemodialysis, home and mobile dialysis and wellness programmes, supported by an in-house pharmacy.
As of Sept. 30, the company had a network of 519 clinics, including 51 centres across the Philippines, Uzbekistan and Nepal. In India, the company has a presence in 288 cities across 21 states and four Union Territories.
Use Of Proceeds
Nephrocare Health Services plans to use the IPO funds to invest in opening new dialysis clinics across India. The company has also proposed to utilise a portion of the IPO funds for repayment of some of the existing borrowings, either in full or in part. Lastly, a portion of the funds will be allocated for general corporate purposes.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
