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Nephrocare Health Services IPO Review

Nephrocare Health Services IPO has been reviewed by 11 analysts, and the overall consensus is Strong Apply — carrying a score of 92. Out of the 11 analysts who have covered this IPO, 10 recommend subscribing while 1 advises caution or avoidance — reflecting a broadly positive view from the analyst community.

The issue is priced in the band of ₹438 – 460 per share, with a minimum application size of 32 shares (minimum investment of approximately ₹14,016 at the upper band). Subscription ran from 10 Dec 2025 to 12 Dec 2025. The issue size is ₹871 crore, a mix of fresh issue and offer for sale. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
92/ 100
Strong Apply 10 of 11 recommend subscribing
How analysts voted
Apply 10
Neutral 1
Not rated 2

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Nephrocare Health Services Ltd operates India’s largest organized dialysis network with 519+ clinics domestically and abroad.


Its ₹871.05 crore IPO (Dec 10–12, 2025) priced at ₹438–460 per share saw strong institutional subscription.


Proceeds will fund new clinics, debt repayment, and corporate purposes.


Shares listed with a positive debut on NSE/BSE.

Listing gains

The notes value the issue between about 57.4 and 67 times FY25 earnings, with EV to EBITDA near 19 to 26 times and an implied market cap around ₹4,615 crore. Analysts describe this as broadly in line with healthcare industry standards, and eleven of thirteen said subscribe.

Short-term strategy

EBITDA was ₹110.31 crore in the latest period against ₹166.64 crore for the prior full year, on revenue of ₹483.97 crore. One note points out the multiple rises sharply to about 128 times on forecast FY26 earnings, which signals expected near-term margin pressure as the network expands.

Long-term strategy

Analysts recommend a medium to long-term view, resting on steady growth in dialysis and nephrology care, a service with recurring demand from a chronic patient base. That recurring nature is the core long-term argument, since patients require regular treatment over many years rather than one-off procedures.

How this is written: an AI-assisted summary of the 13 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Nephrocare Health Services IPO?

The analyst consensus for Nephrocare Health Services IPO tracked on this page is Strong Apply, with a score of 92/100. Out of 11 analysts who have reviewed this IPO, 10 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 92 mean for Nephrocare Health Services IPO?

The score of 92 is an aggregate of all analyst ratings tracked for Nephrocare Health Services IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Read the individual analyst verdicts above for more context.

What was the actual listing price of Nephrocare Health Services IPO?

Nephrocare Health Services IPO listed on December 17, 2025 at ₹490, against the issue price of ₹460 — a gain of +6.52% (₹30 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Nephrocare Health Services IPO?

Nephrocare Health Services IPO was priced at ₹438 – 460 per share. The minimum lot size is 32 shares, making the minimum investment approximately ₹14,016 at the upper end of the price band. Subscription ran from 10 Dec 2025 to 12 Dec 2025.

Explore Nephrocare Health Services IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Nephrocare Health Services IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Strong Apply
Score
92 / 100
Listed at
₹490
Full IPO details