Nephrocare Health Shares Debut At 7% Premium Over IPO Price
On the BSE, Nephrocare Health debuted at Rs 491.70, a 6.89% premium.
Nephrocare Health Services Ltd. listed on the National Stock Exchange on Wednesday at Rs 490 apiece, a premium of 6.52% over its issue price of Rs 460 apiece.
On the BSE, the stock debuted at Rs 491.70, a 6.89% premium.
The initial public offering 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 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.
