Retail traders led the demand with 0.08 occasions subscription, bidding for five.17 lakh shares, towards the 67.35 lakh reserved for them
Nephrocare Well being Providers’ ₹871-crore preliminary public providing acquired a subdued response on the primary day of bidding, with the difficulty subscribed simply 0.04 occasions by noon on Wednesday. The IPO, priced within the ₹438-460 band, will shut on December 12.
Retail traders led the demand with 0.08 occasions subscription, bidding for five.17 lakh shares, towards the 67.35 lakh reserved for them. The worker quota was subscribed 0.20 occasions. Nevertheless, institutional participation remained just about absent, with certified institutional patrons but to submit bids and non-institutional traders subscribing simply 0.02 occasions their allotted portion.
On the higher value band, the corporate might be valued at a market capitalisation of ₹4,615-crore post-issue. The IPO contains a recent concern of ₹353 crore and an offer-for-sale of ₹518 crore.
Brokerage homes provided combined suggestions. Anand Rathi Analysis rated it “Subscribe-Lengthy Time period,” noting the corporate’s dominant place as India’s largest dialysis supplier, however cautioning the IPO is “absolutely priced” at 60.2 occasions FY25 earnings. SBI Securities additionally beneficial “Subscribe,” highlighting the corporate’s capital-efficient asset-light mannequin and powerful progress trajectory. Swastika Investmart instructed solely “aggressive long-term traders” ought to apply, citing aggressive valuation regardless of regular progress.
India’s largest dialysis chain operates 519 clinics throughout India and worldwide markets, together with the Philippines, Uzbekistan and Nepal, serving over 31,000 sufferers as of September 2025.
Printed on December 10, 2025
