Nephro Care makes a stellar debut on NSE SME, lists at 90% premium against issue price

The public issue opened for subscription on June 28 and closed on July 3, 2024

Shares of Nephro Care India made a stellar debut on NSE SME, listing at Rs 171 per share on July 5, commanding a premium of 90 percent over issue price of Rs 90 per share on the upper price band. This is the first SME IPO to make debut after NSE imposed 90 percent cap on SME stocks in open session on the listing day.

The Rs 41.26 crore-IPO garnered bids exceeding Rs 20,000 crore, marking the first-ever SME IPO to achieve such a feat. On the final day, Nephro Care IPO received 715.78 times subscription, with 22.98 crore bids as against 31 lakh shares on the offer. The quota for non-institutional investors received 1,789.19 times subscription, while retail portion was subscribed 634 times, and qualified institutional buyers (QIBs) fetched 245 times subscription.

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The public issue opened for subscription on June 28 and closed on July 3, 2024, wherein its price band was fixed between Rs 85-90 apiece. The public issue is entirely a fresh issue of Rs 45.84 lakh shares and investors had to apply a minimum of 1,600 equity share and in multiples thereof.

The company intends to utilise proceeds towards setting up of multi-specialty hospital in the name of ‘Vivacity Multi Specialty Hospital’ (unit of Nephro Care) at Kolkata (Madhyamgaram), West Bengal; and for general corporate expenses.

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Nephro Care, founded in 2014, is a comprehensive treatment centre located in Kolkata, offering a wide range of clinical and lifestyle solutions, as well as renal insufficiency treatment for patients. Nephro Care is supported by expert doctors, experienced paramedical professionals, and a skilled management team. The hospital currently provides healthcare services to nearly 900 chronic kidney disease patients every month.

Corporate Capitalventures is the book running lead manager of the Nephro Care India IPO, while Bigshare Services is the registrar for the issue. The market maker for Nephro Care India IPO is Ss Corporate Securities.

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