Nephrocare Files IPO Papers to Raise ₹353.4 Crore
NephroPlus, owned by Nephrocare Health Services, is the largest organized dialysis service network in India
Mumbai: Hyderabad-based Nephrocare Health Services has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO). The proposed IPO is a combination of a fresh issue of equity shares aggregating up to ₹353.4 crore and an offer for sale (OFS) of up to 1.27 crore equity shares by the selling shareholders.
Nephrocare proposes to utilize the net proceeds from the fresh issue towards capital expenditure of ₹129.1 crore for opening new dialysis clinics in India, ₹136 crore for pre-payment or scheduled repayment of certain borrowings availed by the company, and the rest for general corporate purposes.
NephroPlus, owned by Nephrocare Health Services, is the largest organized dialysis service network in India, operating 447 clinics across 269 cities in 21 states and 4 Union Territories. It has also expanded its international footprint to the Philippines (34 clinics), Uzbekistan (4 clinics), and Nepal (5 clinics), and has recently entered the Middle East market through the Kingdom of Saudi Arabia.
