The issue opened for bidding on 10 December 2025 and it will close on 12 December 2025. The price band of the IPO is fixed between Rs 438 and 460 per share.

The IPO comprises fresh issue of equity shares worth up to Rs 353.4 crore and an offer for sale of 1,12,53,102 equity shares aggregating up to Rs 517.64 crore by existing shareholders including Investcorp Private Equity Fund II, Healthcare Parent, Investcorp Growth Opportunity Fund, Edoras Investment Holdings, among others.

The objectives for the fresh issue include Rs 129.1 crore for capital expenditure for opening new dialysis clinics in India, Rs 135.99 crore for pre-payment, or repayment, of certain borrowings, and remaining amount for general corporate purpose.

The promoters are Vikram Vuppala, BVP Trust, Edoras Investment Holdings, HPL, IPEF II and IGOF. The promoters and promoter group hold an aggregate of 7,31,03,833 equity shares, aggregating to 78.9% of the pre-offer issued and paid-up equity share capital. Their post IPO shareholding is expected to be around 66.72%.

Ahead of the IPO, Nephrocare Health Services on 2 December 2025, the company raised Rs 2,439.54 crore from anchor investors, by allotting 21.97 lakh crore shares at Rs 111 each to 125 anchor investors.

Nephrocare Health Services offers comprehensive dialysis care through its clinic network, covering diagnosis, treatment, and wellness programs. Its offerings include haemodialysis, home and mobile dialysis, hemodiafiltration, holiday dialysis, dialysis on call, and dialysis on wheels, supported by an in-house pharmacy, providing patients with convenient and holistic care.

In India, the company has a presence across 288 cities in 21 States and 4 Union Territories. Approximately 77.35% of its clinics were in tier II and tier III cities, addressing a critical need in underserved regions. The company operates a network of 519 clinics, with 51 clinics internationally across the Philippines, Uzbekistan and Nepal, as of September 30, 2025

India operations contributed 60.04% of revenue, international operations 39.96% in H1 FY2026. The company's dialysis machine count increased to 5,562 as of September 30, 2025, from 5,068 on March 31, 2025.

For the six months ended 30 September 2025, the firm recorded a consolidated net profit of Rs 14.23 crore and sales of Rs 473.50 crore.

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