Nureca IPO Subscription to Open on February 15; Check Price Band and Other Details Here


New Delhi: Nureca Ltd’s initial public offer (IPO) is set to open for subscription next week on February 15, 2021, after it received the approval of capital market regulator Securities and Exchange Board of India (Sebi) to raise Rs 100 crore through public issue. 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 and will close on February 17, 2021. Also Read – LIC IPO Date 2021: Govt Likely to Reserve 10% of LIC IPO for Policyholders

The IPO comprises issuance of equity shares worth Rs 100 crore, a draft red herring prospectus filed with Sebi showed. The company, which had filed its preliminary papers with Sebi in November, obtained its observations on January 11, an update with the capital markets regulator showed. Sebi’s observations are necessary for any company to launch public issues like initial public offer (IPO), follow-on public offer (FPO) and rights issue. Also Read – Brookfield’s REIT IPO Hits Capital Markets Today, Raises Rs 1,700 crore From Anchor Investors: Here’s All You Need to Know

According to the Red Herring Prospectus, the equity shares of Nureca are proposed to be listed on BSE and NSE. As per the draft papers, proceeds of the company’s issue will be used for funding incremental working capital requirements of the company and general corporate purposes. Also Read – Stove Kraft IPO Allotment Status: Here’s How You Can Check Share Allotment Status Directly

Interested investors can bid for a minimum one lot of 35 equity shares and in multiples thereafter, up to 14 lots. 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.

The company, Nureca Ltd has a strong e-presence and partners with various e-commerce players and it has also managed to add on to and increase its asset base on a YoY basis. As per a report, the revenue has grown nearly 60% from March 2019 to March 2020. The sector being under a broad category of FMCG is a defensive stock and prospects seem to be positive for the company.

Through listing, the company expects to enhance its visibility and brand image among existing and potential customers and creation of a public market for equity shares in India. ITI Capital is the sole book running lead manager to the issue. The equity shares will be listed on BSE and NSE.

Nureca Ltd is a B2C company engaged in the business of home healthcare and wellness products. The company sells its products through online channel partners such as e-commerce players, distributors and retailers. It also sells products through its own website.


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