The Healthcare and wellness products distributor Nureca will open its initial public offering (IPO) for subscription on February 15.
The company plans to raise Rs 100 crore through the issue
About Company
Nureca Limited was incorporated on November 2, 2016. Nureca is a B2C company engaged in the business of home healthcare and wellness products, which offers quality, durability, functionality, usability and innovative designs.
Voltas enables their customers with tools to help them monitor chronic ailments and other diseases, to improve their lifestyle.
Nureca believes in innovation and catering new products to the ever-growing needs of the home health care sector.
Important Dates
Price Band
Nureca Ltd, which owns the Dr Trust brand, will be sold in the price band of Rs 396-400 a piece of face value of Rs 10 each
Market Lot
Interested investors can bid for a minimum one lot of 35 equity shares and in multiples thereafter, up to 14 lots.
Reservation Quota
A total of up to 75 per cent of the net issue will be reserved for Qualified Institutional Buyers (QIB).
And, up to 10 per cent for retail investors and remaining 15 per cent for the non-institutional category.
Equity shares worth Rs 50 lakh will be reserved for eligible employees and these will be offered at a discount of Rs 20 per share for employees bidding in the employee reservation portion.
Proceed Utilise
Nureca will utilise the proceeds for incremental working capital requirements and general corporate purposes.
Company’s Financial
The total income of the company increased by 208.85 per cent from Rs 200.69 million in fiscal 2018 to Rs 619.83 million during the fiscal 2019.
For fiscal 2020, the total income of the company increased by 60.51 per cent at Rs 994.87 million.
Lead Manager
ITI Capital is the sole book running lead manager to the issue.
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