New Delhi, July 28 -- Nephrocare Health Services Limited, widely recognized under the brand name NephroPlus, has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs.353.4 crore through an initial public offering (IPO). The Hyderabad-based company plans to use the proceeds to expand its network of dialysis clinics across India and repay outstanding debt, with the balance allocated to general corporate purposes.

The IPO will include a fresh issue of equity shares worth Rs.353.4 crore and an offer-for-sale (OFS) of up to 1.27 crore equity shares by promoter and non-promoter shareholders. Among the OFS participants are Investcorp Private Equity Fund II, Healthcare Parent Limited, Edo...