Nephrocare Health Services Ltd IPO

Nephrocare Health Services Limited provides comprehensive dialysis care through their network of clinics, covering diagnosis, treatment, and wellness programs, including haemodialysis, home and mobile dialysis, supported by pharmacy services. They are India’s largest dialysis service provider in terms of patients served, number of clinics, cities covered, treatments performed, revenue, and EBITDA (excluding other income) in Fiscal 2025, with operating revenue 4.4 times that of the next largest organized dialysis provider in India in Fiscal 2024 (Source: F&S Report). In Fiscal 2025, the company served 29,281 patients and completed 2,885,450 treatments in India, representing approximately 10% of the country’s total dialysis patients. Nephrocare Health Services Limited is also the largest dialysis service provider in Asia in 2025 and the fifth largest globally based on the number of treatments performed in Fiscal 2025. They are the only Indian dialysis services provider to have scaled internationally, operating a global network of 490 clinics, including 43 clinics across the Philippines, Uzbekistan, and Nepal, as of March 31, 2025. The company also operates the most widely distributed dialysis network in India, with clinics across 269 cities and 21 States and four Union Territories, with 76.73% of their clinics located in tier II and tier III cities and towns, as of March 31, 2025.