Dialysis chain NephroPlus eyes Rs 2,000 crore IPO
Nephrocare Health Services
, which operates under the brand NephroPlus, is preparing to file a draft red herring prospectus (DRHP) with market regulator SEBI end of this month, said people familiar with the matter.
The Hyderabad-headquartered company is planning to raise over ₹2,000 crore through its initial public offering (IPO). the proposed IPO will be a mix of fresh issue and an offer for sale, sources familiar with the matter said.
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, Nomura and Ambit Capital will be book-running lead managers (BRLMs) to the issue, said a source familiar with the matter. Emails sent to the investment bankers and the company remained unanswered.
Proceeds from the fresh issue are expected to fund expansion of dialysis centres and acquisitions of mid-sized players, mainly in India and the Philippines, as the company looks to consolidate its leadership in the fast-growing renal care market.
Founded in 2010 by Vikram Vuppala and Kamal D Shah, NephroPlus runs more than 400 dialysis clinics across India and other Asian markets-Philippines, Uzbekistan and Nepal. According to India Ratings report, the company had a domestic market share of over 50% in FY24.
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Time of India
38 minutes ago
- Time of India
Telangana govt forms 3-member committee to inspect violations at fertility centres across state
Hyderabad: The Telangana govt has formed a high-level committee to inspect private IVF clinics and fertility centres across the state. This move follows a major surrogacy scam recently exposed in Hyderabad, where a couple discovered that the baby they received through a fertility centre was not their biological child. The baby was allegedly bought from a poor family in Assam and sold to the couple for Rs 35 lakh. The clinic involved, Universal Srushti Fertility Centre, operated despite its licence being cancelled, and several people, including its founder, Dr Athaluri Namratha, were arrested. Following this, the health, medical and family welfare department issued an order on Saturday, directing the formation of a three-member committee. It includes the commissioner of health and family welfare, the CEO of rajiv aarogyasri health care trust, and the director of medical education. The committee is tasked with inspecting the functioning of private IVF clinics, verifying whether they are registered under the Assisted Reproductive Technology (Regulation) Act, 2021, and the Surrogacy (Regulation) Act, 2021, and checking if proper documentation and ethical procedures are being followed. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How to Trade ETH/USD Without Holding Ether IC Markets Learn More Undo You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad The panel will also review existing complaints and legal cases against clinics and examine how such violations went unnoticed. It will investigate whether patients were misled and if there were lapses in how clinics handled egg or sperm donation, embryo transfers, or surrogacy procedures. The committee has been given ten days to submit its findings and can bring in external experts if needed. Officials stated that strict action will be taken against any clinic found violating the law. The govt has urged the public to be cautious and verify the credentials of fertility centres before undergoing any procedure. The goal, they said, is to ensure ethical and legal reproductive care in the state. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
Time of India
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- Time of India
Some Kenyan runners see doping as a path to glory, and to basic sustenance
ITEN , Kenya: Thousands of feet above the Great Rift Valley that runs through East Africa , the small city of Iten, Kenya, calls itself the Home of Champions . It has long produced and attracted world-class running talent, its high altitude and red dirt roads a training ground for thousands. The town also has a far less laudatory reputation. It is a well-documented center of a doping crisis that shows little sign of being tamed. Explore courses from Top Institutes in Please select course: Select a Course Category PGDM Product Management Design Thinking others Cybersecurity Data Science Project Management Degree Management Public Policy Healthcare Data Science MCA Data Analytics MBA Leadership Finance healthcare Digital Marketing Artificial Intelligence Operations Management CXO Others Technology Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details Runners come here for access to competition, coaching talent and the benefit of training in thin air, all to try to earn riches from running. Many Kenyans who try to join the elite endure cramped and dirty living conditions, little food and separation from their families in service of their ambitions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How Much Does It Cost to Rent a Private Jet - The Prices May Surprise You! Private Jet I Search Ads Learn More Undo In a region where the average annual income is the equivalent of little more than $2,000 and the competition so intense, the potentially life-changing lure of banned substances, referred to locally as 'the medicine,' is obvious. A few thousand dollars in prize money or participation in a single overseas race can be the difference between runners and their families eating three meals a day and scratching around for the next bite. They calculate that doping is worth the risks not only of getting caught, but also of damaging their health and, in some cases, even dying. Live Events In that environment, the doping industry has flourished, with pharmacies in the region's health care hub city of Eldoret said to serve as a conduit for performance-enhancing substances. The crisis pulls together extreme poverty, moneymaking opportunity, corruption and a region overflowing with running talent that makes getting an edge harder than just about anywhere. 'This economic reality means the high-risk situation is always going to be impossible to completely eradicate,' said Brett Clothier, the head of global track and field's unit responsible for anti-doping efforts. Many runners and coaches suspect that their rivals dope, and they point to the roster of athletes barred from international competitive racing. Kenya, which has a smaller population than 25 other countries, has the most names on the list. Some of Kenya's most prominent runners have been caught doping and barred from competition. The women's marathon world-record holder, Ruth Chepngetich, who is from the Rift Valley, was suspended this month after testing positive for a prohibited substance. Her agent did not respond to a request for comment. International officials have made headway. Kenyans are now among the most-tested athletes anywhere, Clothier said, adding that as widespread as the doping is, it was far worse just a few years ago. Yet, global anti-doping bodies suspect that policing efforts may be touching only the edges of a cheating epidemic. Officials in Kenya responsible for tackling doping have been caught taking bribes. Some have been arrested. The scale of the problem prompted track and field's governing body to threaten to ban Kenya from global competition unless its government committed to spending $25 million to fight doping, a staggering amount in the anti-doping world. 'We have to teach them a different way of seeing things: that using illegitimate means of doing well is not going to help them in the long run; it damages their health, and they might not be successful,' said Barnabas Korir, an executive committee member of Kenya's athletics federation who also sits on a multiagency anti-doping body. 'It's a matter of changing the whole attitude.' Runners Everywhere Before dawn on any given day, runners kick up the red earth along the main road to Iten or other training routes. At the busiest times, it can seem that more people are running than walking alongside the road. The best are on teams of their own. Their up-and-coming athletes sleep, eat and train in camps. The most promising compete in races locally and regionally, and if they succeed, teams send them abroad to earn prize money or sponsorships. Thousands of other athletes exist on the periphery of this structure, outside the teams. On a Tuesday this year, one of them, Daniel Rotich, 24, was at Kipchoge Keino Stadium, named for one of Kenya's most revered runners. It's a ramshackle building that is a magnet for runners looking to improve. Rotich arrived before first light, waiting for a coach who would ultimately not show. With a young child and another on the way, Rotich convinced his wife that he should try running because he had shown promise in school. He had maize and beans to last another few weeks, enough time, he hoped, to improve his pace and attract the attention of a camp that would provide housing and food in return for a share of any earnings. His wife sent him the equivalent of a dollar every second day, he said, and he slept on a thin blue mat in a room with a mud floor that a friend let him use. 'It's hard, but we have to survive until you make it,' he said after running 10 drills of 1,000 meters each. 'It might take two years or six months.' His story is typical. 'You'll never find anybody running for health,' Toby Tanser, a former runner who has written books on Kenyan running, said one morning above the cheers of children emanating from a field day nearby. Though many runners here convince themselves that they can rise above the pack, Tanser said, 'the sad reality is that around 95% of runners training in Iten are never going to have a career.' A Better Life To beat the competition and earn life-changing income, which could mean as little as $5,000 or $10,000 a year, doping is an attractive proposition. Over the past decade, Alfred, an athlete who acknowledged using banned drugs, achieved success in modest races. The income, he said, allowed him to provide a home for his immediate family and his mother, who had been living in the mud-and-thatch house where he was raised. Doping was the only route he saw to a better life, said Alfred, who agreed to be interviewed on the condition his last name not be used. Getting access to banned substances is straightforward, according to anti-doping officials and athletes. Pharmacies line the streets of Eldoret, a city of about a half million and the region's principal commercial hub, about a 30-minute drive from Iten. Runners can procure just about anything they need to boost performance. For those who can't pay, some pharmacists or doctors will strike deals for a percentage of future earnings, athletes and anti-doping officials said. Pharmacists in and around Iten and Eldoret declined to be interviewed. 'If any dodgy doctor or pharmacist says, 'Try this,' people just do it,' said Clothier, the anti-doping official. The authorities' crackdown also took aim at drug suppliers. In May, an Indian national was arrested in Iten carrying prohibited drugs, including human growth hormones. Efforts such as presentations about the risks of doping have backfired, said Joseph Cheromei, a well-regarded local coach known for his hard line against doping. The presentations from anti-doping officials, Cheromei added, instead outlined for runners which substances would increase their speed. Scrambling to Avoid Capture Blanket testing is the latest tool that officials have devised to catch cheats in Iten. One morning in November, officials descended on a track where scores of athletes were training, locking the gates behind them. Pandemonium ensued, according to Ben Kipchirchir, a Kenyan runner. Kipchirchir said he witnessed athletes clamber over walls and vault fences to escape. 'They were running this way and that,' he said, smiling ruefully. Often, Kenyans and others taking drugs show little regard for the physical risks, such as dangerously elevated heart rates, kidney and liver disease, and even death. In the fall of 2024, at the same Iten track, a 20-year-old man trying out for an American college scholarship collapsed and died after a 3,000-meter trial, news reports said. He is one of many young Kenyan athletes to die while running, according to news reports about their deaths. The causes of death have been hard for athletics officials to determine because they have been unable to get access to autopsy results. 'If someone drops dead like that, an athlete who is fit, a young one, there has to be a reason,' said Korir, the Kenyan official. 'It can't be someone just drops dead.' Kipchirchir's goal to go pro gets harder with each day, as younger rivals join the scramble to get ahead. Wearily, he watches them speed up, ultimately — thanks to 'the medicine,' he said — blitzing past him in the race to change their lives. 'It's not fair,' he said.
Time of India
an hour ago
- Time of India
Two further attacks on Indians in Dublin trigger Indian embassy to issue advisory
. LONDON: The Indian embassy in Dublin has issued a stark warning advising Indian citizens in Ireland to take precautions for their personal safety and avoid deserted areas, especially at odd hours, after two more Indian nationals have been brutally attacked and left with serious injuries. The Indians embassy notice said there has been 'an increase in the instances of physical attacks reported against Indian citizens in Ireland recently' and that the embassy was 'in touch with the authorities concerned'. It advised Indian nationals to take "reasonable precautions'. On July 19 in Tallaght, an Indian man was left with blood pouring out of his head, his underwear and trousers removed, after an unprovoked assault by around 10 teenagers who stabbed him in the face multiple times when he was walking to his temple. Then, on July 24, an Indian man, in his 20s, was attacked by a group of teenagers at a tram stop in Dublin at 10.30 pm local time. He was pushed, beaten, and stabbed in the face with a screwdriver and taken to Mater Misericordiae Hospital for treatment of serious injuries. On July 28, Dr Santosh Yadav, a senior data scientist in his 30s, was returning to his apartment in Dublin following dinner when six teenagers attacked him from behind. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Max Estates ₹6 Cr+ Homes In Gurgaon Max Estates - Estate 361 Book Now Undo 'They snatched my glasses, breaking them, and then beat me relentlessly across my head, face, neck, chest, hands, and legs, leaving me bleeding on the pavement,' he said. He managed to call the Gardaí and an ambulance took him to Connolly Hospital Blanchardstown. His cheekbone is fractured, and he has been referred for specialist care. 'Racist attacks on Indian men and other minorities are surging across Dublin — on buses, in housing estates, and on public streets. Yet, the govt is silent. We deserve to walk on the streets without fear,' Yadav said. Three protests were held last week in Dublin calling for an end to racism and justice for Indian victims. A Gardaí spokesperson confirmed the police are investigating all three attacks and said: 'Every hate crime reported to An Garda Síochána is professionally investigated.' S Aditya Mandal, an AI professional from West Bengal, who has been working in Dublin for eight years, told TOI: 'No one has been arrested till now in any of these three attacks. Indians here are feeling scared for their families and many are reconsidering whether they want to stay in Ireland.'
