IPO Trending
NEPHROPLUSEQ / NSE, BSEListed
Nephrocare Health Services

Incorporated in 2010, Nephrocare Health Services Ltd. provides comprehensive dialysis care through an extensive network of clinics across India and select international markets. As of March 31, 2025, the company operated 490 clinics—447 in India and 43 across the Philippines, Uzbekistan, and Nepal—including the world’s largest dialysis clinic in Uzbekistan. Nephrocare serves 269 cities across 21 states and 4 union territories, with nearly 77% of its centers located in tier II and III regions to improve access for underserved populations. In FY 2025, it treated 29,281 patients and delivered over 2.88 million dialysis sessions, representing about 10% of India’s dialysis patient base. The company managed 5,068 dialysis machines by March 2025, demonstrating consistent growth over prior years. Nephrocare has also partnered with leading hospital chains such as Max, Fortis Escorts, Care Hospitals, Wockhardt, Paras, CMRI, Jehangir Hospital, and Ruby Hall Clinic to operate in-house dialysis centers and enhance service reach.

₹438 - ₹46014.08x sub
Listed Price₹491.70
Listing Gain+6.89%

IPO Schedule & Timeline

Bookbuilding IPO
Open10 Dec 2025
Close12 Dec 2025
Allotment15 Dec 2025
Listing17 Dec 2025

Quota Reservation & Application Lots

Quota Reservation (% Shares)

Anchor56,57,919 shares
29.88%
QIB37,68,224 shares
19.9%
HNI28,27,843 shares
14.93%
Retail65,98,301 shares
34.85%
Employee83,532 shares
0.44%

Minimum Application Lots

Retail1 Lot (32 shares)
₹14,720
sHNI14 Lots (448 shares)
₹2,06,080
bHNI68 Lots (2,176 shares)
₹10,00,960

Company Promoters

Vikram VuppalaBessemer Venture Partners TrustEdoras Investment Holdings Pte. Ltd.Healthcare Parent LimitedInvestcorp Private Equity Fund IIInvestcorp Growth Opportunity Fund

Company Background

Incorporated in 2010, Nephrocare Health Services Ltd. provides comprehensive dialysis care through an extensive network of clinics across India and select international markets. As of March 31, 2025, the company operated 490 clinics—447 in India and 43 across the Philippines, Uzbekistan, and Nepal—including the world’s largest dialysis clinic in Uzbekistan. ...

Financial Performance

Figures in ₹ Crores
Metric Breakdown

Revenue

Latest (Sep-25)₹483.97 Cr
Growth+9.2%
Revenue Trend (₹ in Crores)
0.0295.1590.3885.4Mar-23Mar-24Mar-25Sep-25
PeriodRev (Cr)PAT (Cr)AssetsDebt
Sep-25483.9714.231,193.68207.04
Mar-25769.9267.1996.46225.8
Mar-24574.7235.13806.02243.37
Mar-23443.26-11.79666.23196.21

Key Performance Indicators (KPIs)

PeriodEPSROEROCEP/E (Pre)P/E (Post)
Sep-251.692.19%11.99%0162.19
Mar-258.2813.45%18.67%63.520
Mar-244.558.76%10.00%00
Mar-23-1.53-3.00%0.44%00

Peer Comparison & Valuation

Financial Performance

Nephrocare Health Services Limited

NAV/Share (₹)59.56
RONW(%)13.19
EPS (Basic) (₹)8.28

Narayana Health

NAV/Share (₹)160.35
RONW(%)21.77
EPS (Basic) (₹)38.9

Jupiter Life Line Hospitals

NAV/Share (₹)192.55
RONW(%)14.27
EPS (Basic) (₹)29.47

Rainbow Children Hospital

NAV/Share (₹)134.69
RONW(%)16.56
EPS (Basic) (₹)23.97

Dr. Agarwal’s Healthcare

NAV/Share (₹)55.13
RONW(%)5.73
EPS (Basic) (₹)2.8

Dr. Lal Path Labs

NAV/Share (₹)245.26
RONW(%)22.3
EPS (Basic) (₹)58.48

Metropolis Healthcare

NAV/Share (₹)236.34
RONW(%)10.9
EPS (Basic) (₹)28.29

Vijaya Diagnostics

NAV/Share (₹)70.98
RONW(%)17.99
EPS (Basic) (₹)13.95

Valuation

Nephrocare Health Services Limited

P/E(X)0
CMP* (₹)0
Face value (₹)2.00

Narayana Health

P/E(X)45.21
CMP* (₹)1758.80
Face value (₹)10.00

Jupiter Life Line Hospitals

P/E(X)51.10
CMP* (₹)1506.00
Face value (₹)10.00

Rainbow Children Hospital

P/E(X)56.84
CMP* (₹)1355.10
Face value (₹)10.00

Dr. Agarwal’s Healthcare

P/E(X)179.42
CMP* (₹)498.80
Face value (₹)1.00

Dr. Lal Path Labs

P/E(X)52.47
CMP* (₹)3064.10
Face value (₹)10.00

Metropolis Healthcare

P/E(X)69.48
CMP* (₹)1955.90
Face value (₹)2.00

Vijaya Diagnostics

P/E(X)73.14
CMP* (₹)1018.10
Face value (₹)10.00

Broker & Analyst Reviews

Review Not Available

Institutional broker reviews and analyst reports have not been released for this issue yet. Reviews are typically published 2 to 3 days prior to the issue opening date.

IPO Allotment & Registrar Status

Official Registrar: Kfin Technologies Limited

Allotment Finalized
Allotment Date
15 Dec 2025
Official Status
Out / Finalized
Registrar
Kfin Technologies Limited
Listing Date
17 Dec 2025

Official Allotment Verification Links

Official Registrar Portal
Kfin Technologies Limited

Direct allotment verification on the official registrar portal appointed for Nephrocare Health Services. Check with PAN or Application No.

Check on Registrar Portal
Stock Exchange Portal
BSE India Investor Portal

Official Bombay Stock Exchange investor verification channel using Issue Name and PAN Number.

Check on BSE India

Allotment Schedule & Milestones

IST
1. Allotment Finalization15 Dec 2025Basis of allotment declared
2. Refund Initiation1 day post allotmentUPI / ASBA mandate unblocked
3. Demat CreditPrior to listingShares credited to CDSL/NSDL
4. Listing Date17 Dec 2025Trading commences on exchange

How to Check Nephrocare Health Services Allotment Online

1Open Portal

Click on the official registrar link or BSE portal button above.

2Select Company

Select Nephrocare Health Services from the issue drop-down list.

3Enter Details

Select PAN, Application No., or DP Client ID and type your details.

4View Allocation

Click Submit to check your allotted share count and status.

Prospectus & Official Filings

Allotment FAQs & Help

About Nephrocare Health Services IPO

Complete issue overview for Nephrocare Health Services (NEPHROPLUS) IPO. The issue features an equity share price band of ₹438 – ₹460 per share with a minimum retail lot size of 32 Shares (minimum application amount of ₹14,720). Explore live market tracking on our GMP Tracker, compare against All IPO GMP Today, or view category bidding on the Subscription Page. Verify official allotment via IPO Registrars or review participating investment bankers in our Lead Managers Directory.

Frequently Asked Questions