Nureca IPO opens on Monday. All you need to know

Nureca will launch the shares in the fixed price band between ₹396 to ₹400 with a piece of the face value of ₹10 per share.

Nureca, a company which deals in home healthcare and wellness products and owns Dr Trust, will open its initial public offering (IPO) on Monday. The bidding window for the IPO will remain open for two days starting Monday and will end on February 17, Wednesday.

The healthcare and wellness company had filed its preliminary papers with SEBI in November last year and it received its observations in January. (Mint Archives)

Nureca will launch the shares in the fixed price band between ₹396 to ₹400 with a piece of the face value of ₹10 per share. Earlier in January, Nureca received markets watchdog Securities and Exchange Board of India’s (SEBI) approval to raise ₹100 crore through an initial public offering.

The healthcare and wellness company had filed its preliminary papers with SEBI in November last year and it received its observations in January. SEBI’s observations are necessary for companies if they wish to launch public issues like initial public offer (IPO), follow-on public offer (FPO) and rights issue.

The draft papers outline that the proceeds of the IPO will be used for providing funds for the incremental working capital requirements of Nureca as well as general corporate purposes. Nureca is also aiming to expand its base and gain potential customers. The IPO will also enhance Nureca’s visibility and brand image and help in building a public market for the company in the country.

Nureca’s IPO consists of equity shares which consist of ₹100 crore, according to the company’s draft red herring prospectus filed with Securities and Exchange Board of India (Sebi). Nureca’s equity shares will be listed on the National Securities Exchange and the Bombay Stock Exchange.

Nureca’s products can be bought online via e-commerce websites, distributors and retailers and also uses its own website drtrust.in to sell its products.