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The recently launched IPO of Nephro Care India, a company in the medicare segment, has received a great response in the market. The IPO of this Kolkata-based company has been subscribed more than 715 times in 3 days. Will be listed on NSE SME Nephro Care India's Rs 41.26 crore IPO opened in the stock market on June 28. Bids for the IPO could be made till July 2, i.e. yesterday. This IPO had only fresh shares issue. 45.84 lakh new shares of the company are being issued through the IPO. The price band of this IPO of SME category was fixed at Rs 85 to Rs 90 per share. Its shares will be listed on NSE SME on July 5. This is how big was the Nephro Care IPO 1,600 shares were kept in one lot of Nephro Care India's IPO. According to the issue price, a retail investor needed at least Rs 1 lakh 44 thousand to invest in this IPO. In the HNI category, investors could bid for at least 2 lots, which means they needed to invest at least Rs 2 lakh 88 thousand. This is how the IPO was subscribed Despite the large lot size of the IPO and the high minimum required amount, it received a great response from investors. The IPO was subscribed the most in the NII category by 1,787.19 times. In the QIB category, investors subscribed the IPO 245.14 times. At the same time, the portion kept for retail investors was subscribed 634.12 times. In this way, the IPO got an overall subscription of 715.78 times. Legendary bankers also included among the investors Nephro Care India runs a hospital in Kolkata. The company was started by Dr. Pratim Sengupta in 2014. Many big names are included among the investors of the company. Veteran banker Deepak Parekh is also among them. According to the draft of the IPO, the company will use the money raised from the issue to start a multispecialty hospital. Apart from that, some amount will also be spent for general corporate purposes. Also read: Shock to stock market investors, now there will be no exemption from brokerage charges on Zerodha Source link

Nephro Care IPO: Investors flocked to this IPO, subscribed more than 715 times in 3 days