New Delhi: IPO-bound NephroCare Health Services on Wednesday announced that it has scaled its operations significantly, growing from a single clinic in India in 2010 to 500 clinics across India, Nepal, the Philippines, and Uzbekistan. The company now serves over 33,000 patients annually.
The Hyderabad-based firm had filed its draft papers with capital markets regulator SEBI in July this year to raise funds through an initial public offering (IPO). As of March 31, 2025, NephroCare Health Services operated 125 clinics in tier II cities and 218 clinics in tier III cities across India.
In fiscal year 2025, the company generated 1,642 jobs in tier II and tier III cities and trained 132 dialysis technicians, according to its draft papers.
“Reaching 500 clinics is a proud milestone for all of us at NephroPlus. This achievement belongs to our guests who trust us, our partners who support us, and our teammates who power us every day. We are moving faster, reaching further, and aiming higher to redefine dialysis care in India and across borders,” said Rohit Singh, Group Chief Executive Officer, NephroCare Health Services, in a statement.
Besides its strong presence in India and other countries, NephroCare Health Services, known for its NephroPlus brand, expanded into the Middle East by entering the Kingdom of Saudi Arabia (KSA) in fiscal 2024. This was achieved through a joint venture with Arabian International Healthcare Holding Company, part of the Al Faisaliah Group.
The company continues to pursue growth through brownfield opportunities, which involve taking over and operating existing dialysis clinics run by hospitals, not-for-profits, or other private providers looking to outsource their dialysis operations.
On the financial front, NephroCare Health Services reported a total revenue of Rs 755.81 crore in FY25, up from Rs 566.16 crore in FY24. The company’s net profit stood at Rs 67.1 crore in FY25, compared to Rs 35.13 crore in the previous fiscal year.
Regarding the IPO, the offer comprises a fresh issue of equity shares worth Rs 353.4 crore and an offer for sale (OFS) of 1.27 crore shares by promoters and existing shareholders. Of the fresh capital raised, approximately Rs 129 crore will be utilised to open around 167 new dialysis centres in India by FY28.
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