The IPO of Nephro Care India, which specialises in kidney-related treatments, is currently subject to receipt of necessary approval from the NSE Emerge. Credit: Peakstock/Shutterstock.com.

Kidney care services provider Nephro Care India is reportedly set to raise Rs300m to Rs400m ($3.6m to $4.8m) through an initial public offering (IPO). 

The IPO will consist of a fresh issue of 4.584 million equity shares, each with a face value of Rs10, Business Standard reported.  

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The IPO is currently subject to receipt of necessary approval from the National Stock Exchange (NSE) Emerge platform. 

Business Standard quoted Nephro Care India founder and managing director Dr Pratim Sengupta as saying: “The IPO is scheduled next month on the NSE Emerge platform and is subject to approvals from the bourse. The promoter stake will stand at 60% to 65% after dilution post the IPO.” 

The majority of the proceeds from the IPO are expected to be used for the establishment of Nephro Care’s upcoming multi-specialty hospital, known as ‘Vivacity Multi Speciality Hospital’, in Madhyamgram, Kolkata. 

This upcoming facility is being developed with an estimated cost of Rs360m, which also includes Rs100m of internal funding. 

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It is expected to feature 100 inpatient beds, including a 30-bed critical care unit with intensive care unit (ICU), high-dependency unit (HDU), neonatal intensive care unit (NICU) and other key facilities.  

The hospital will provide advanced treatment services across various disciplines, such as gastroenterology, cardiology, gynecology, medical oncology, as well as a renal transplant unit, positioning it as a key healthcare institution in East India. 

Sengupta claimed that the new hospital is scheduled to open on 1 July, coinciding with National Doctor’s Day. 

The remaining capital from the IPO is earmarked for general corporate purposes. 

Nephro Care India, which specialises in kidney-related treatments, has seen a significant increase in financial performance, reporting a revenue of Rs199m and a net profit of Rs34m in the first nine months of the 2023-24 fiscal year. 

Beyond this expansion, Nephro Care India, established in 2014, plans to open three additional kidney care units in eastern part of the country, complementing its existing three facilities in West Bengal.