Nureca IPO: Nureca Ltd, a B2C company known for its products in the home healthcare and wellness department, on Monday kicked off its initial public offering (IPO) at a fresh issue of Rs 100 crore. Nureca shares are currently being sold at a price band of Rs 396-400 at a face value of Rs 10 each. On the first itself, the public issue has been subscribed 3.64 times, largely backed by retail investors.
Nureca’s public issue opened a month after the company received SEBI approval for raising Rs 100 crore through IPO. The issue is open from today (February 15) and will close on February 17.
Nureca’s public offer has received total bids of 51 lakh equity shares against an IPO size of 14.01 lakh shares, the subscription data showed on BSE and NSE. Investors can bid for a minimum of one lot of 35 shares and a maximum of 14 lots, equivalent to 490 shares.
Notably, Nureca employees are getting an additional discount of Rs 20 per share. The firm has reserved shares worth Rs 1 crore for its employees.
Nureca Ltd is a digital-first company has a strong e-presence with online channel partners like e-commerce players, distributors and retailers as well as through its website, drtrust.in. The company focuses on tools to help customers monitor chronic ailments and other diseases.
Nureca has raised Rs 44.55 crore from two anchor investors. The company’s revenue has grown nearly 60 per cent from March 2019 to March 2020, according to reports.