Nephrocare Health Services IPO

Nephrocare Health Services Ltd., established in 2010, is a specialized renal care company focused on delivering affordable and accessible dialysis services. It operates an extensive network of clinics across India and selected overseas markets, providing a full spectrum of dialysis solutions such as haemodialysis, home and mobile dialysis, patient diagnostics, wellness programs, and pharmacy services.

As of September 30, 2025, the company managed 519 dialysis centers, including facilities in the Philippines, Uzbekistan, and Nepal, and operates the world’s largest dialysis clinic in Uzbekistan. In India, Nephrocare has a strong footprint across 288 cities in 21 states and 4 Union Territories, with a majority of its clinics located in tier II and tier III cities to cater to underserved populations.

In Fiscal 2025, Nephrocare delivered nearly 2.9 million dialysis sessions to more than 29,000 patients, representing approximately 10% of India’s dialysis patient population. The company is supported by over 5,500 dialysis machines and operates in collaboration with leading hospital groups such as Max Healthcare, Fortis Escorts, CARE Hospitals, Wockhardt Hospitals, Paras Healthcare, and other prominent institutions.

• India’s and Asia’s largest dialysis chain with leadership across our markets.
• Scale coupled with asset-light model driving cost efficiencies and operational excellence.
• Driving clinical excellence and quality through protocols and advanced technology.
• Organic growth augmented by proven track record of acquisitions and integration in India and internationally.
• Patient-centric leadership and seasoned management team backed by marquee investors.
• Driving sustainable dialysis leadership with environmental, social and governance measures.
• Track record of sustainable growth, profitability and return.

A major portion of the proceeds, amounting to ₹129.11 crore, will be used for capital expenditure towards setting up new dialysis clinics across India. This investment is aimed at expanding the company’s clinic network, especially in underserved regions, and increasing access to quality dialysis care.

An amount of ₹136.00 crore is proposed to be utilized for the pre-payment or scheduled repayment, in full or in part, of certain borrowings availed by the company. This will help reduce the company’s debt burden, improve its balance sheet, and lower interest costs.

The remaining ₹60.05 crore will be allocated towards general corporate purposes, which may include funding working capital requirements, strengthening operational capabilities, supporting business development initiatives, and meeting other strategic and administrative expenses

Nephrocare Health Services Limited proposes to utilize the net proceeds from its Initial Public Offering (IPO) primarily to support business expansion, strengthen its financial position, and meet general corporate needs.