Nephrocare Health Services Ltd.'s initial public offer was subscribed 12% on the launch day on Wednesday.
The IPO is a book-building issue worth Rs 871.05 crore. The IPO is a combination of fresh issue of 77 lakh shares, worth Rs 353.4 crore and an offer-for-sale (OFS) of 1.13 crore shares, aggregating to Rs 517.64 crore.
The Nephrocare Health IPO price band has been set between Rs 438 and Rs 460 per share. The IPO lot size consists of 32 shares. The retail investors need to apply for at least a single lot size, amounting to a minimum investment of Rs 14,720 based on the upper price band per application.
Incorporated in 2010, Nephrocare Health Services provides end-to-end dialysis care through a wide network of clinics across India and select international markets. The company offers services including diagnosis, haemodialysis, home and mobile dialysis, and wellness programs, supported by an in-house pharmacy.
The company will use Rs 136 crore from the fresh issue to repay debt and Rs 129 crore for capital expenditure for opening new dialysis clinics in India.
The share allotment status is expected to be finalised on Dec. 15. Nephrocare Health Services will list on the BSE and NSE on Dec. 17.
ICICI Securities is the book-running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Nephrocare Subscription Details
The Nephrocare Health Services IPO was subscribed 12% as of 5:00 p.m. on Wednesday.
Qualified Institutional Buyers (QIBs): Nil
Non-Institutional Investors (NIIS): 9%
Retail Individual Investors: 23%
Employee Reserved: 53%
Nephrocare IPO GMP
Nephrocare Health Services Ltd.'s grey market premium is at nil on Wednesday, according to Investorsgain website. The GMP indicates a listing price of Rs 460 apiece, which means upon listing, Nephrocare may offer no additional gain to investors.
Note: GMP does not represent official data and is based on speculation.
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