Pursuant to Reg 32 of SEBI LODR Regulations, 2015 read with Reg 41 of SEBI ICDR Regulations, 2018, please find enclosed Monitoring Agency Report for quarter ended March 31, 2026.
NEPHROPLUS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Crisil Ratings Limited, as Monitoring Agency, submitted its Q4 FY2026 report on Nephrocare Health Services' IPO proceeds utilization. The company raised Rs 3,534.05 million (net proceeds: Rs 3,251.53 million) through its IPO in December 2025. As of March 31, 2026, Rs 1,756.54 million (49.7%) has been utilized: Rs 1,359.99 million fully repaid borrowings, Rs 37.22 million spent on new dialysis clinic capital expenditure, Rs 218.69 million on general corporate purposes, and Rs 140.64 million on issue expenses. The remaining Rs 1,777.51 million is parked in fixed deposits and bank accounts. A notable delay exists in capital expenditure - the company planned Rs 131.51 million for FY2026 but only spent Rs 37.22 million because new dialysis centers were still in various stages of finalization.
Borrowing repayment is complete, reducing debt burden. The capital expenditure delay suggests slower-than-expected clinic expansion, though this is permitted under prospectus provisions if delayed due to business considerations. Overall IPO fund deployment is progressing but remains significantly ahead of schedule only on debt repayment.