Nephrocare Health Services is entering the public markets through Mainboard IPO with an issue size of ₹871.05 crore. The issue consists of a fresh issue of ₹353.40 crore and an offer for sale of ₹517.64 crore. The shares are proposed to be listed on NSE & BSE.
The IPO subscription window opens on December 10, 2025 and will remain open until December 12, 2025. The company plans to list its shares on December 17, 2025. Since this is a Mainboard IPO, participation is expected from a wide range of investors.
Nephrocare Health Services Limited IPO Timeline
IPO Quick Facts
This section covers the main IPO details of Nephrocare Health Services that investors generally review before applying.
IPO Details at a Glance
| Company Name | Nephrocare Health Services |
|---|---|
| IPO Segment | Mainboard |
| Sale Type | Fresh Issue + Offer For Sale |
| Issue Type | Bookbuilding IPO |
| Price | ₹460 Per Share |
| Lot Size | 32 Shares |
| Face Value | ₹2 Per Share |
| Exchange | NSE & BSE |
IPO Documents
| RHP | DRHP |
|---|---|
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Investor Category & Share Allocation
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| Qualified Institutional Buyers (QIB) | 9,429,865 | 49.78% |
| — Anchor Investor | 5,657,919 | 29.87% |
| — QIB (Ex Anchor) | 3,771,946 | 19.91% |
| NII (HNI) | 2,828,960 | 14.93% |
| — bNII > ₹10L | 1,885,973 | 9.96% |
| — sNII < ₹10L | 942,987 | 4.98% |
| Retail | 6,600,907 | 34.85% |
| Employee Reservation | 83,532 | 0.44% |
| Total Shares Offered | 18,943,264 | 100.00% |
Nephrocare Health Services IPO Important Dates
The following table highlights the key dates for the Nephrocare Health Services IPO, covering the subscription period and the expected listing timeline.
| IPO Opening Date | 10 Dec 2025 |
|---|---|
| IPO Closing Date | 12 Dec 2025 |
| Allotment Finalization | 15 Dec 2025 |
| Initiation of Refunds | 16 Dec 2025 |
| Credit of Shares | 16 Dec 2025 |
| IPO Listing Date | 17 Dec 2025 |
Nephrocare Health Services IPO Size & Structure
| Total IPO Size | ₹871.05 Crore |
|---|---|
| Offer For Sale | ₹517.64 Crore |
| Fresh Issue | ₹353.40 Crore |
Nephrocare Health Services IPO Lot Size & Minimum Investment
The table below shows the lot size and investment amount for the Nephrocare Health Services IPO, which is a fixed price IPO priced at ₹460 per share.
Investors can apply for the IPO with a minimum of 32 shares. Applications must be made in multiples of 32 shares.
- Retail investors can apply from 1 lot to 13 lots.
- Small HNI (SHNI) investors must apply for at least 14 lots.
- Big HNI (BHNI) investors need to apply for a minimum of 68 lots.
This information helps investors understand the minimum investment required before applying for the IPO.
Note: Retail investors generally apply at the cut-off price, which is ₹460 per share.
| Category | Lots | Shares | Price | Amount |
|---|---|---|---|---|
| Retail (Min) | 1 | 32 | ₹460 | ₹14,720 |
| Retail (Max) | 13 | 416 | ₹460 | ₹191,360 |
| S-HNI (Min) | 14 | 448 | ₹460 | ₹206,080 |
| S-HNI (Max) | 67 | 2,144 | ₹460 | ₹986,240 |
| B-HNI | 68 | 2,176 | ₹460 | ₹1,000,960 |
Nephrocare Health Services IPO GMP (Grey Market Premium)
The latest Nephrocare Health Services IPO GMP (Grey Market Premium), along with Kostak rates and Subject to Sauda rates, helps in understanding market sentiment. The current Nephrocare Health Services IPO GMP is ₹40 (8.70%), compared to the IPO issue price of ₹460. Based on the current GMP, the expected listing price is around ₹500. The Lowest GMP was ₹0 on 10 Dec 2025, while the highest GMP reached ₹40 on 17 Dec 2025.
Nephrocare Health Services IPO was listed on the stock exchange on 17 Dec 2025. The IPO was subscribed 13.73 times. The first reported GMP was ₹0 (0%), while the latest recorded GMP stood at ₹40 (8.7%).Listing Details:
- Issue Price: ₹460 per share.
- Listing Price: ₹491.70 (approx. 6.89% gain)
- Listing Date: 17 Dec 2025
Nephrocare Health Services IPO GMP Today - Trend Analysis
| Date | Issue Price (₹) | GMP Price (₹) | Estimated Gain (%) | Estimated Price (₹) | Estimated Profit (₹) |
|---|---|---|---|---|---|
| 17 Dec 2025 | ₹460 | ▲ ₹40 | ▲ 8.7% | ₹500 | ₹1,280 |
| 16 Dec 2025 | ₹460 | ▼ ₹37 | ▼ 8.04% | ₹497 | ₹1,184 |
| 15 Dec 2025 | ₹460 | ▲ ₹38 | ▲ 8.26% | ₹498 | ₹1,216 |
| 13 Dec 2025 | ₹460 | ▲ ₹30 | ▲ 6.52% | ₹490 | ₹960 |
| 12 Dec 2025 | ₹460 | ₹20 | 4.35% | ₹480 | ₹640 |
| 11 Dec 2025 | ₹460 | ▲ ₹20 | ▲ 4.35% | ₹480 | ₹640 |
| 10 Dec 2025 | ₹460 | ₹0 | 0% | ₹460 | ₹0 |
| 09 Dec 2025 | ₹460 | ₹0 | 0% | ₹460 | ₹0 |
| 08 Dec 2025 | ₹460 | ₹0 | 0% | ₹460 | ₹0 |
| 06 Dec 2025 | ₹460 | ₹0 | 0% | ₹460 | ₹0 |
| 05 Dec 2025 | ₹460 | ₹0 | 0% | ₹460 | ₹0 |
| 04 Dec 2025 | ₹460 | ₹0 | 0% | ₹460 | ₹0 |
Nephrocare Health Services IPO GMP gives retail and institutional investors an idea about short-term market expectations. Although grey market premium does not guarantee listing performance, it is still commonly referred to while analysing IPOs. Investors are advised to look at Nephrocare Health Services fundamentals along with IPO GMP data before making any investment decision.
GMP Disclaimer: GMP (Grey Market Premium) prices are unofficial and only reflect market sentiment. We neither participate in grey-market trading nor encourage it. Investors are strongly advised to review the company’s fundamentals, risks, and official documents before considering an investment in the Nephrocare Health Services IPO.
Nephrocare Health Services IPO Subscription Status
Nephrocare Health Services IPO was subscribed 13.73 times overall on the final day of bidding (as of 12 Dec 2025).The subscription opened on 10 Dec 2025. The Retail portion was subscribed 1.96 times, while QIB and NII categories were subscribed 27.47 times and 24.02 times respectively. The Employee category was subscribed 2.59 times, reflecting broad investor interest across segments.
Subscription by Category (QIB, NII, Retail, Employee)
Daily Subscription Trend (Day-wise):
| Date | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| 10 Dec 2025 | — | 0.09x | 0.2x | 0.53x | 0.12x |
| 11 Dec 2025 | 0.3x | 0.22x | 0.45x | 1.18x | 0.36x |
| 12 Dec 2025 | 27.47x | 24.02x | 1.96x | 2.59x | 13.73x |
On the first day, the Nephrocare Health Services IPO received good initial interest, with early participation from Employee and Retail investors.
Demand for the Nephrocare Health Services IPO strengthened further on Day-2, driven mainly by higher bids from Employee, followed by Retail investors.
By the end of the bidding period, the IPO was subscribed 13.73x overall, reflecting strong demand from key investor categories, led by QIB, followed by NII and Retail investors. Overall subscription for the Nephrocare Health Services IPO increased from 0.12x on Day-1 to 13.73x by the final day.
Nephrocare Health Services IPO Final Subscription
| Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 27.47x |
| Non-Institutional Investors (NII) | 24.2x |
| Retail Investors | 2.21x |
| Employee | 2.64x |
| Total | 13.9x |
Nephrocare Health Services IPO Allotment Status
The Nephrocare Health Services IPO allotment status was released on 15 Dec 2025. Investors who applied for the IPO can now check their Nephrocare Health Services allotment status online through the official registrar website and NSE / BSE portal.
- 🗓 Allotment Date: 15 Dec 2025
- 📈 Listing Date: 17 Dec 2025
How to Check Nephrocare Health Services IPO Allotment Status Online?
Investors can check the Nephrocare Health Services IPO allotment status online through KFin Technologies Limited, NSE and BSE websites. All platforms provide easy access to the IPO allotment details.
Just follow the below mentioned steps to check your allotment status.You can also visit
KFin Technologies
to know more about the IPO registrar.
Check on KFin Technologies Limited (IPO Registrar)
- Visit → KFin Technologies Limited
- Select Nephrocare Health Services
- Enter Application No / Demat Account / PAN details
- Click Submit to view allotment status
Check on NSE (National Stock Exchange) Website
- Go to → NSE Website
- Select Equity & SME IPO Bid Details.
- Choose Nephrocare Health Services IPO.
- Enter your PAN & Application Number.
- Click on Submit button.
The National Stock Exchange (NSE) provides an online facility to check the Nephrocare Health Services IPO allotment status.
Check on BSE (Bombay Stock Exchange) Website
- Visit → BSE Website.
- Select Issue Type: Equity.
- Choose Nephrocare Health Services IPO.
- Enter your PAN or Application Number.
- Click on Search button.
The Bombay Stock Exchange (BSE) also allows investors to check the Nephrocare Health Services IPO allotment status online.
Note: Allotment status is published only on the official registrar websites. We do not collect investor data or provide allotment verification directly.
How to Apply for Nephrocare Health Services IPO?
Login to Your Trading App
Open your trading app such as Angel One, Zerodha, Upstox, Groww or any brokerage app.
Go to the IPO Section
Navigate to the IPO section in the app, search for the IPO, and enter your bid details.
Enter Your UPI ID
Provide your UPI ID that is linked to your bank account for payment authentication.
Approve the Mandate
Open your UPI app and approve the payment mandate to block the required amount.
Application Confirmation
Application submitted successfully, the funds will remain blocked until allotment is finalized.
Nephrocare Health Services IPO Listing Analysis
Below is a quick summary of the Nephrocare Health Services IPO issue price, listing price, and listing gain on BSE and NSE.
| IPO Status | Issue Price | Listing Price | Listing Gain |
|---|---|---|---|
| Listed (BSE) | ₹460 | ₹492 | ▲ 6.89% |
| Listed (NSE) | ₹460 | ₹490 | ▲ 6.52% |
Nephrocare Health Services debuted at ₹491.7, listing at a premium of +₹32 (+6.89%). The stock closed at ₹471.6, gaining -4.09%. Investors earned a profit of +₹371 per lot.
📌 IPO Issue Price and Lot Size
The IPO of Nephrocare Health Services was offered in the price band of ₹460 to ₹460 per share.
- The final issue price was fixed at ₹460.
- One lot consisted of 32 shares.
- Minimum investment: ₹460 × 32 = ₹14,720
- Investment after Day-1: ₹471.6 × 32 = ₹15,091
- By the end of the listing session, investors made a profit of +₹371 per lot.
📌 IPO Subscription Analysis
With an overall subscription of 13.73×, supported by QIB participation of 27.47×, the IPO delivered steady listing gains. The stock debuted at 6.89% and closed at 2.52%.
| Day | QIB | NNI | Retail | Total |
|---|---|---|---|---|
| Day 1 | 0x | 0.09x | 0.2x | 0.12x |
| Day 2 | 0.3x | 0.22x | 0.45x | 0.36x |
| Day 3 | 27.47x | 24.02x | 1.96x | 13.73x |
📌 Final Assessment
Overall Outcome: Successful IPO
- Subscription Phase: Moderate investor participation
- Listing Phase: Strong listing performance
- Investor Experience: Mild positive returns for investors
About Nephrocare Health Services Limited
Incorporated in 2010, Nephrocare Health Services Ltd. provides end-to-end dialysis care through a wide network of clinics across India and select international markets.
IPO Financial Summary
- Total Assets changed by 23.63% in FY 2024-2025.
- Total Revenue changed by 33.96% in FY 2024-2025.
- Profit After Tax changed by 91% in FY 2024-2025.
- Reserves & Surplus changed by 41.64% in FY 2024-2025.
- Total Borrowings changed by -7.22% in FY 2024-2025.
| Metric | 2025-09-30 | 2025-03-31 | 2024-03-31 | 2023-03-31 |
|---|---|---|---|---|
| Total Assets (₹ Cr) | 1,193.68 | 996.46 | 806.02 | 666.23 |
| Total Revenue (₹ Cr) | 483.97 | 769.92 | 574.72 | 443.26 |
| Profit After Tax (₹ Cr) | 14.23 | 67.10 | 35.13 | -11.79 |
| Reserves & Surplus (₹ Cr) | 704.14 | 578.68 | 408.57 | 383.50 |
| Total Borrowings (₹ Cr) | 207.04 | 225.80 | 243.37 | 196.21 |
Nephrocare Health Services Peer Comparison
The following table helps investors compare Nephrocare Health Services IPO with its listed peers based on important financial and valuation parameters as of March 31, 2025.
| # | Company Name | EPS (₹) | P/E (x) | NAV (₹) | P/BV (x) | RoNW (%) |
|---|---|---|---|---|---|---|
| 1 | Nephrocare Health Services Limited | 8.28 | - | 59.56 | - | 13.19 |
| 2 | Narayana Health | 38.90 | 45.21 | 160.35 | 10.99 | 21.77 |
| 3 | Jupiter Life Line Hospitals | 29.47 | 51.10 | 192.55 | 7.84 | 14.27 |
| 4 | Rainbow Children Hospital | 23.97 | 56.84 | 134.69 | 10.11 | 16.56 |
| 5 | Dr. Agarwal's Healthcare | 2.80 | 179.42 | 55.13 | 9.05 | 5.73 |
| 6 | Dr. Lal Path Labs | 58.48 | 52.47 | 245.26 | 12.51 | 22.30 |
| 7 | Metropolis Healthcare | 28.29 | 69.48 | 236.34 | 8.28 | 10.90 |
| 8 | Vijaya Diagnostics | 13.95 | 73.14 | 70.98 | 14.54 | 17.99 |
Utilisation of Proceeds
The Company proposes to utilise the net IPO proceeds of approximately ₹325.16 crore towards the following objectives:
| # | Purpose | Amount (₹ Cr) | % of Total |
|---|---|---|---|
| 1 | Capital expenditure by the Company for opening new dialysis clinics in India | 129.11 | 39.71% |
| 2 | Pre-payment, or scheduled repayment, in full or part, of certain borrowings availed by the Company | 136.00 | 41.83% |
| 3 | General corporate purposes | 60.05 | 18.47% |
| Total | 325.16 | 100% | |
Nephrocare Health Services IPO Promoter Holding
| Promoter(s) | Vikram Vuppala, Bessemer Venture Partners Trust, Edoras Investment Holdings Pte. Ltd., Healthcare Parent Limited, Investcorp Private Equity Fund II and Investcorp Growth Opportunity Fund |
|---|---|
| Pre-Issue Holding | 78.90% |
| Post-Issue Holding | 71.49% |
Nephrocare Health Services IPO FAQs
The Nephrocare Health Services IPO is a Mainboard Bookbuilding IPO with a total issue size of ₹871.05 crore. The issue consists of a fresh issue of ₹353.40 crore and an offer for sale of ₹517.64 crore.
The IPO will open for subscription on Wed, 10 Dec 2025 and will close on Fri, 12 Dec 2025.
The shares are being offered at a fixed issue price of ₹460 per equity share.
Investors can apply for the IPO with a minimum lot size of 32 shares.
At the upper price band, the minimum investment required for one lot is approximately ₹14,720.
The shares of Nephrocare Health Services are expected to be listed on NSE & BSE on Wed, 17 Dec 2025.
The Grey Market Premium (GMP) of Nephrocare Health Services IPO is ₹40.
The expected listing price of Nephrocare Health Services IPO is around ₹500 based on current GMP. This indicates a potential return of approximately 8.70% , with an estimated profit of ₹1,280 per lot, subject to market conditions.
The Nephrocare Health Services IPO was subscribed 13.9 times on the final day of subscription.
The retail portion is subscribed 1.96 times as of 12 Dec 2025.
The QIB portion is subscribed 27.47 times and the NII portion is subscribed 24.02 times .
The IPO registrar of Nephrocare Health Services is KFin Technologies Limited. KFin is responsible for processing IPO applications, finalizing allotment, crediting shares, and initiating refunds.
The allotment date is expected on Mon, 15 Dec 2025.
Allotment status is generally updated in the evening (6 PM – 10 PM) on Mon, 15 Dec 2025 on the registrar or exchange website.
Shares are expected to be credited by Tue, 16 Dec 2025.
Refunds for unsuccessful applicants will be initiated on Tue, 16 Dec 2025.
Investors can check refund status via:
- UPI mandate / bank account (NACH, NEFT, RTGS)
- ASBA bank portal
Nephrocare Health Services IPO is listed on NSE (NEPHROPLUS) and BSE (544647).
The current share price of Nephrocare Health Services Limited is ₹575.75. The stock opened at ₹582.25, hit a high of ₹587.10 and a low of ₹571.25.
Nephrocare Health Services Limited share price has decreased by ₹5.80 (1.00%) compared to the previous close. The stock has gained 17.09% from its listing price of ₹491.70 on BSE and gained 17.50% from its listing price of ₹490.00 on NSE.
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