Nephro Care shares list at 90% premium on NSE SME platform

The shares of Nephro Care listed on the NSE SME platform on Friday with a premium of 90%. The stock debuted at Rs 171 as against an offer price of Rs 90.

Ahead of the listing, the company's shares traded with a premium of Rs 230 in the unlisted market.

The IPO, which was completely a fresh equity sale of 45.84 lakh shares generated massive response among investors with an overall subscription of over 700 times at close.

The Kolkata-based company plans to utilise a portion of the net proceeds from the IPO to set up a 100-bed multispeciality hospital called ‘Vivacity Multi Speciality Hospital’ at Madhyamgram in Kolkata. The remaining part of the proceeds will be utilised for general corporate purposes.

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.

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Vivacity will offer treatment services in various disciplines such as cardiology, medical oncology, gastroenterology, gynecology and many others, including an advanced renal transplant unit in East India.

Nephro Care was founded in the year 2014 by Dr. Pratim Sengupta, in Kolkata, with the objective of providing comprehensive medical services for renal patients. Dr Sengupta has over 20 years of active clinical experience, claimed the release saying that he has successfully performed more than 1,000 kidney transplants till now.

Nephro Care India operates on a multidimensional patient engagement framework comprising programs and facilities such as mukti, home dialysis, home care and diagnostics.

While Mukti takes care of the overall well-being of the patient to improve the quality of life through a blend of modern medicine and ancient yogic wisdom, home dialysis offers dialysis at the comfort of homes to CKD patients who are unable to visit the dialysis centres.

Meanwhile, home care services ensure clinical and lifestyle support beyond clinics to take care of all collateral medical needs of the patients.

The company posted a revenue of Rs 19.90 crore and earned a profit (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 profit (PAT) of Rs 1.94 crore in FY23.