Nephro Care sets price band

New Delhi: Kidney care provider Nephro Care India Ltd on Tuesday said it is looking to raise a little over Rs41 crore through its initial share-sale, which will open for public subscription on June 28.The issue, with a price band of Rs 85-90 per share, will conclude on July 2. The bidding for anchor investors will open for a day on June 27, the Kolkata-headquartered healthcare provider said in a statement.

The IPO comprises fresh issuance of 45.84 lakh equity shares worth Rs 41.26 crore at the upper-end of the price band. Post-issue, shares of the company will be listed on the NSE Emerge platform. The kidney care provider intends to utilise Rs 26.17 crore of the IPO proceeds for setting-up a multi-speciality healthcare facility -- Vivacity Multi Speciality Hospital -- at Madhyamgram in Kolkata, West Bengal, and the remaining capital will be used for general corporate purposes. The new hospital is proposed to include 100 in-patient beds, including a 30-bed Critical Care unit.