Description

Nephrocare Health Services Limited allocated 5,657,919 equity shares to 14 anchor investors at ₹460 per share, raising ₹2,602.64 crore ahead of its IPO.

Summary

Nephrocare Health Services Limited announced the allocation of 5,657,919 equity shares to anchor investors at ₹460 per equity share (face value ₹2, share premium ₹458) on December 9, 2025. The anchor investor portion raised ₹2,602.64 crore from 14 institutional investors. The allocation was finalized by the board of directors in consultation with book running lead managers ICICI Securities Limited, Ambit Private Limited, IIFL Capital Services Limited, and Nomura Financial Advisory and Securities (India) Private Limited.

Key Points

  • Total anchor allocation: 5,657,919 equity shares at ₹460 per share
  • Total amount raised from anchor investors: ₹2,602,642,740 (₹2,602.64 crore)
  • Face value: ₹2 per equity share; Share premium: ₹458 per equity share
  • 14 anchor investors participated in the allocation
  • Domestic mutual funds received 2,582,944 shares (45.65% of anchor portion) through 6 schemes from 5 mutual funds
  • Life insurance companies and pension funds received 434,815 shares (7.69% of anchor portion) from 2 entities
  • Largest allocation: SBI Healthcare Opportunities Fund (760,896 shares, 13.45%)
  • Book running lead managers: ICICI Securities, Ambit Private, IIFL Capital Services, Nomura Financial Advisory

Anchor Investor Allocation Details

Major Allocations:

  • SBI Healthcare Opportunities Fund: 760,896 shares (13.45%) - ₹350.01 crore
  • DSP Healthcare Fund: 619,584 shares (10.95%) - ₹285.01 crore
  • ICICI Prudential Pharma Healthcare and Diagnostics Fund: 543,488 shares (9.61%) - ₹250.00 crore
  • Fidelity Funds - Pacific Fund: 492,288 shares (8.70%) - ₹226.45 crore
  • Multiple international funds: The Prudential Assurance Company Limited, Eastspring Investments, Polar Capital Funds, Manulife Global Fund (543,488 shares each, 9.61% each)

Domestic Mutual Fund Participation:

  • 5 domestic mutual funds applied through 6 schemes
  • Total allocation to mutual funds: 2,582,944 shares (45.65%)
  • Amount allocated to mutual funds: ₹1,188.15 crore

Insurance and Pension Funds:

  • 2 life insurance companies and pension funds allocated 434,815 shares (7.69%)
  • Includes SBI Life Insurance Company Limited and HDFC Life Insurance Company Limited

Regulatory Changes

No regulatory changes announced. This is a standard anchor investor allocation disclosure as per SEBI IPO regulations.

Compliance Requirements

  • The company disclosed anchor investor allocation details to BSE and NSE as required under SEBI (Issue of Capital and Disclosure Requirements) Regulations
  • Anchor investors are subject to lock-in requirements as per applicable regulations
  • The allocation was finalized by the board of directors on December 9, 2025

Important Dates

  • December 9, 2025: Board meeting held to finalize anchor investor allocation
  • December 9, 2025: Date of circular disclosure to stock exchanges

Impact Assessment

Market Impact:

  • Strong institutional participation signals positive sentiment toward the healthcare/diagnostics sector
  • Significant anchor allocation (₹2,602.64 crore) indicates robust demand for the IPO
  • 45.65% allocation to domestic mutual funds demonstrates strong domestic institutional interest
  • Participation from international funds (Fidelity, Eastspring, Polar Capital, Manulife) shows global investor confidence

Sector Impact:

  • Healthcare and diagnostics sector continues to attract institutional capital
  • Multiple healthcare-focused funds participated (SBI Healthcare, ICICI Prudential Pharma Healthcare, DSP Healthcare)

Investor Impact:

  • Anchor allocation price of ₹460 per share sets reference point for retail/institutional bidding
  • Strong anchor book may influence demand in the public offering
  • Retail and non-institutional investors can gauge institutional appetite through this allocation

Impact Justification

Significant IPO anchor allocation of ₹2,602.64 crore indicates strong institutional interest in healthcare sector IPO; impacts primary market activity and upcoming public offering