Deepak Parekh-backed Nephro Care to raise around Rs 40 crore via SME IPO

Kolkata-headquartered healthcare provider Nephro Care India Ltd said it could raise around Rs 40 crore through the initial public offering (IPO) to fund its expansion plans. The SME (small and medium enterprise) initial share sale is backed by banking veteran and ex-HDFC chairman Deepak Parekh.

The IPO will comprise a fresh issuance of 45.84 lakh equity shares with a face value of Rs 10 each. The issue will be listed on NSE Emerge. The company plans to utilise a portion of the IPO net proceeds to set up a 100-bed multi-speciality hospital called Vivacity Multi-Specialty Hospital at Madhyamgram in Kolkata and the remaining for general corporate purposes. The IPO is set to open shortly, Nephro Care said. The company is yet to announce the exact date for its public issue.

"The hospital will be a unit of Nephro Care India and is proposed to include 100 inpatient beds, including a 30-bed Critical Care unit having ICU, HDU, RTU and NICU facilities. Vivacity will offer treatment services in various disciplines such as cardiology, medical oncology, gastroenterology, gynaecology and many others, including an advanced renal transplant unit," it also mentioned.

In December last year, Nephro Care India successfully closed the pre-IPO funding round, which saw the participation of Deepak Parekh, Bharat Shah (chairman of HDFC Securities) and Rajendra Agarwal (founder and MD of Macleods Pharmaceuticals), among others.

The Kolkata-headquartered firm offers a wide range of clinical and lifestyle solutions and renal insufficiency treatment to patients. The treatment framework covers the entire range of lifestyle, physiological and spiritual aspects of wellness.

Corporate Capital Ventures Pvt Ltd is the sole book-running lead manager to the issue and Bigshare Services Pvt Ltd is the registrar.

Nephro Care was founded in 2014 by Dr Pratim Sengupta, in Kolkata, to provide comprehensive medical services for renal patients.

The company posted a revenue of Rs 19.90 crore and earned a profit after tax (PAT) of Rs 3.4 crore during the first nine months of FY 2023-24, compared to a revenue of Rs 17.09 crore, with a PAT of Rs 1.94 crore in FY 2022-23.