Asia’s largest dialysis services provider, NephroPlus, is set to launch its Initial Public Offering (IPO) on Wednesday, December 10, 2025, with the issue closing on Friday, December 12, 2025. The Hyderabad-based company, which is also the world’s fifth-largest dialysis service provider by number of treatments performed in Fiscal 2025, has fixed the price band at ₹438–₹460 per equity share. Eligible employees will receive a discount of ₹41 per share.
The IPO consists of a fresh issue of equity shares aggregating up to ₹353.4 crore and an offer for sale (OFS) of up to 1,12,53,102 equity shares by existing shareholders.
NephroPlus plans to use ₹129.1 crore from the fresh issue proceeds for capital expenditure to open new dialysis clinics across India. An additional ₹136 crore will go toward pre-payment or scheduled repayment of certain borrowings.
Founded in 2009, NephroPlus is India’s largest organised dialysis network, operating clinics across 288 cities in 21 states and 4 Union Territories. The company has a global footprint of 519 clinics, including 51 centres in the Philippines, Uzbekistan and Nepal. Its 165-bedded dialysis clinic in Tashkent, Uzbekistan, is currently the largest standalone dialysis clinic in the world.
NephroPlus offers a full suite of haemodialysis services, including home haemodialysis, hemodiafiltration, holiday dialysis, dialysis on call, and dialysis on wheels, enabling patients to choose flexible and specialised treatment options.
India’s dialysis services market, valued at USD 818 million in Fiscal 2024, is projected to grow to USD 1,979 million by 2029, driven by rising burden of chronic kidney disease and expanding demand for quality dialysis care.
