The Hyderabad-headquartered company is planning to raise over ₹2,000 crore through its initial public offering (IPO). the proposed IPO will be a mix of fresh issue and an offer for sale, sources familiar with the matter said.
ICICI Securities, IIFL Capital Services, Nomura and Ambit Capital will be book-running lead managers (BRLMs) to the issue, said a source familiar with the matter. Emails sent to the investment bankers and the company remained unanswered.
Proceeds from the fresh issue are expected to fund expansion of dialysis centres and acquisitions of mid-sized players, mainly in India and the Philippines, as the company looks to consolidate its leadership in the fast-growing renal care market.
Founded in 2010 by Vikram Vuppala and Kamal D Shah, NephroPlus runs more than 400 dialysis clinics across India and other Asian markets-Philippines, Uzbekistan and Nepal. According to India Ratings report, the company had a domestic market share of over 50% in FY24.
