According to the Red Herring Prospectus (RHP), the Hyderabad-based company’s initial public offering will be completed on December 12 and anchor bidding will take place on December 9.
The IPO raised Rs. There is a combination of fresh issue of up to 353.4 crore shares and offer for sale (OFS) of 1.12 crore shares by selling shareholders.
As part of OFS, the promoters– Investcorp Private Equity Fund II, Healthcare Parent, Investcorp Growth Opportunity Fund, Adoras Investment Holdings Pte. Ltd — along with other shareholders — Investcorp India Private Equity Opportunity, International Finance Corporation and 360 One Special Opportunity Funds — will offload the shares.
From the latest issue, the company has raised Rs. 129.1 crore has been proposed to be utilized; Rs. 136 crore debt repayment; and balances for general corporate purposes. Founded in 2009, NephroPlus had a global network of 519 clinics, including 51 clinics in the Philippines, Uzbekistan and Nepal as of September 30, 2025.
In fiscal 2024, it also expanded into the Kingdom of Saudi Arabia (KSA) market by forming a joint venture with Arabian International Healthcare Holding Company, a company of the Al Faisaliyah Group.
Also, its 165-bed dialysis clinic in Tashkent, Uzbekistan is the largest dialysis clinic globally.
NephroPlus is also the largest distributed dialysis network in India with an extensive pan-India network of clinics in 288 cities spread across 21 states and 4 union territories by September 2025. 77 percent of these clinics are located in Tier II and Tier III cities and towns.
Financially, NephroPlus in FY25 raised Rs. 756 crore in income from operations and Rs. It reported a profit after tax of 67 crores.
ICICI Securities, Ambit, IIFL Capital Services and Nomura Financial Advisory & Securities (India) Pvt Ltd are the book-running lead managers to the issue.
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