Deepak Parekh-backed multi-speciality healthcare provider in East India, Nephro Care India is likely to raise around Rs 40 crore through the initial public offering (IPO) to fund its expansion plans.
The company plans to utilise a portion of the net proceeds from the IPO to set up a 100-bedded multispeciality hospital called Vivacity Multi Speciality Hospital at Madhyamgram in Kolkata, West Bengal and the remaining for general corporate purposes. The IPO is set to open shortly.
According to the statement, 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 in East India.
In December 2023, Nephro Care India successfully closed the pre-IPO funding round, which saw the participation of banking veteran and former chairman of HDFC, Deepak Parekh, Chairman of HDFC Securities Bharat Shah, and Rajendra Agarwal, Founder and MD of Macleods Pharmaceuticals, among others.