Nureca IPO to open tomorrow. Dates, price band and more

Nureca, which had filed its preliminary papers with the Securities and Exchange Board of India (Sebi) in November, got its observations on January 11.

Nureca Ltd will open its three-day initial public offering (IPO) for subscription on Monday, February 15, almost a month after it received the approval of the Securities and Exchange Board of India (Sebi) to raise ₹100 crore through public issue. The company, which owns the Dr Trust brand, will be sold in the price band of ₹396-400 a piece of the face value of ₹10 each.

Nureca plans to raise ₹100 crore through the issue, which includes a reservation of shares worth ₹1 crore for its employees, (iStock)

Nureca, which had filed its preliminary papers with Sebi in November, got its observations on January 11. The capital markets regulator’s observations are necessary for any company to launch public issues like IPO, follow-on public offer (FPO) and rights issue. Nureca’s revenue has grown nearly 60% from March 2019 to March 2020, according to a report. Nureca raised ₹44.55 crore from two anchor investors on Friday.

Nureca, which is a home healthcare and wellness products company, sells its products through its own website and online channel partners such as e-commerce players, distributors and retailers.

Here is what you need to know about Nureca’s IPO:

1. The issue will close on February 17, 2021.

2. Nureca plans to raise ₹100 crore through the issue, which includes a reservation of shares worth ₹1 crore for its employees, who will get shares at a discount of ₹20 a share.

4. Up to 75% of the net issue will be reserved for Qualified Institutional Buyers (QIB). And, up to 10% for retail investors and the remaining 15% for the non-institutional category.

5. Proceeds of the issue will be used for funding incremental working capital requirements of the company and general corporate purposes.

6. The company also expects to enhance its visibility and brand image among existing and potential customers and the creation of a public market for equity shares in India through the listing.

7. ITI Capital is the sole book-running lead manager to the issue.

8. The equity shares will be listed on BSE and NSE.

(With PTI inputs)