IPO News

Nureca’s Rs 100 crore public issue opens next week

Incorporated in 2016, the healthcare and wellness products distributor Nureca Limited is all set to release its IPO by next week.

The company has received SEBI’s consent to raise Rs 100 crore via its public issue.

Nureca’s issue will be open for subscription from February 15,2021 to February 17,2021. The price band of the issue is set at Rs 396 – Rs 400 per share with a face value of Rs 10 each.

The equity shares of the company will be listed on BSE and NSE.

Company has targeted to utilize all the issue net proceeds towards funding the incremental working capital requirements of the company. Also, the company will utilize the net proceeds in general corporate purposes.

Nureca currently operates under a very highly fragmented and shattered market.

However, the company has reflected a very impressive performance in terms of sales within the first six months FY21.

Nureca has recently adopted E-commerce strategy which is working very well and the company is set to continue this momentum going forward.

The QIB portion is reserved up to 75 percent of the issue. Also, the retail investors portion will not exceed 10%.

The Non-Institutional category or the NII portion is reserved at remaining 15 percent.

This issue also comprises of reservation of equity shares around Rs 50 lakh ready for subscription by eligible employees.

The company’s business currently deals in Chronic Disease Products, Mother and Child care and also Orthopedic products.

It has also collaborated with Chroma and became the first company selling healthcare products via Chroma stores.

Check all the recent news updates and share market updates


Get 90% Discount on Brokerage Now! Open Demat Account