Nephro Care India aims to raise Rs 35-40 cr via IPO

Kolkata, May 24 (PTI) Kidney care provider Nephro Care India Ltd on Friday said it aims at raising Rs 35-40 crore through an initial public offering (IPO), the majority of which will be utilised to complete its multi-speciality hospital near Kolkata.
    The IPO will comprise a fresh issuance of 45.84 lakh equity shares with a face value of Rs 10 each, said Founder and MD of Nephro Care India, Dr Pratim Sengupta.
    "The IPO is scheduled next month on the NSE Emerge platform, and is subject to approvals from the bourse," Sengupta said.
    The promoter stake will stand at 60-65 per cent after dilution post the IPO, he said.
    The 100-bed multi-speciality hospital at Madhyamgram near the metropolis will be inaugurated on July 1 on National Doctor’s Day, Sengupta told PTI here.
    The Kolkata-based company’s upcoming medical facility is being set up at a cost of Rs 36 crore, including internal funding of around Rs 10 crore, he said.
    Nephro Care India, founded in 2014, also plans to open three more kidney care units in eastern India in addition to its existing three such facilities in West Bengal.
    The company posted a revenue of Rs 19.90 crore and net profit of Rs 3.4 crore during the first nine months of the 2023-24 fiscal, compared with a topline of Rs 17.09 crore and bottomline of Rs 1.94 crore in the corresponding period a year ago.

(This story has not been edited by THE WEEK and is auto-generated from PTI)