Nephro Care India (NCIL), a distinguished healthcare provider operating across various disciplines in East India, has taken a significant stride towards expansion by submitting its draft red herring prospectus (DRHP) to NSE Emerge, signaling its intent to raise funds through an initial public offering (IPO).
The IPO entails a fresh issuance of 45,84,000 equity shares, each valued at ₹10. Headquartered in Kolkata, NCIL specializes in delivering a wide spectrum of clinical services, lifestyle solutions, and treatments for renal insufficiency, catering to the diverse healthcare needs of the region.
In December 2023, Nephro Care India successfully concluded its pre-IPO funding round, attracting notable participation from esteemed personalities such as banking veteran and former HDFC Ltd chairman Deepak Parekh, HDFC Securities chairman Bharat Shah, and Rajendra Agarwal, Founder and MD of Macleods Pharmaceuticals, among others.
According to the Draft Red Herring Prospectus (DRHP), NCIL intends to utilize the net proceeds from the IPO primarily towards the establishment of ‘Vivacity Multi-Speciality Hospital’ in Madhyamgram, Kolkata, West Bengal, in addition to addressing general corporate purposes.
The forthcoming hospital, a subsidiary of Nephro Care India Limited, is poised to offer a comprehensive range of medical services, with a specific emphasis on renal care. With a capacity of 100 beds for inpatient care, including a dedicated 30-bed Critical Care unit equipped with state-of-the-art facilities, Vivacity aims to provide specialized medical care in cardiology, medical oncology, gastroenterology, gynecology, and advanced renal transplant procedures, catering to the burgeoning healthcare needs of East India.
Presently, Nephro Care India Limited serves approximately 900 chronic kidney disease (CKD) patients monthly. Its flagship Salt Lake clinic, covering an area of 5,352 sq. ft., hosts a team of over 5 permanent physicians, along with 10 visiting consultants and a skilled workforce of 70 professionals.
Additionally, the company operates satellite clinics in Salt Lake (HB 113) and Chandannagar, near Kolkata, with plans to inaugurate three more satellite clinics in Alipurduar and Shyambazar in West Bengal and Balasore in Odisha, further expanding its reach and accessibility.
In terms of financial performance, NCIL reported a revenue of ₹19.90 crore and a profit after tax (PAT) of ₹3.4 crore for the first nine months of FY 2023-24, showcasing growth compared to FY 2022-23’s revenue of ₹17.09 crore and a PAT of ₹1.94 crore. This upward trajectory underscores the company’s commitment to delivering quality healthcare services while maintaining financial sustainability and growth.
