The Initial Public Offer (IPO) of Nephro Care India (NCIL) became the first SME offer to draw bids worth over Rs 20,000 crore on the NSE Emerge platform. The IPO received an overwhelming response from the investors, recording 715.85 times subscriptions until the final day of bidding. The Kolkata-headquartered healthcare provider aimed to raise Rs 41.26 crore from the issue that was floated between June 28 – July 02, 2024.
While the Qualified Institutional Buyer (QIB) portion of the issue was subscribed 245.14 times, the HNI quota was subscribed 1787.56 times, the Retail Individual Investors (RII) quota was subscribed 634.12 times, and employee portion was subscribed 20.44 times, bringing the overall subscription to 715.85 times till the final day of bidding on Tuesday, July 02, 2024.
The price band of the issue is fixed at Rs 85-90/- per Equity Share with a face value of Rs 10 apiece. The IPO comprises a fresh issue of 45.84 Lakh Equity Shares with a face value of Rs 10/- through the book-building route. The minimum lot size for the application is 1,600 Equity Shares. The company is proposed to be listed on NSE Emerge.
Corporate Capital Ventures is the sole Book Running Lead Manager and Bigshare Services is the Registrar of the offer.
The company intends to utilise Rs 26.17 crore of net proceeds from the IPO to set up a multi-speciality healthcare facility, ‘Vivacity Multi Speciality Hospital’, at Madhyamgaram in Kolkata, West Bengal, and the company plans to use the remaining capital for general corporate purposes. The new hospital will be a unit of NCIL 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 in East India.