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Nureca IPO subscribed nearly 40 times

Published on Feb 17, 2021 17:36

The initial public offer (IPO) of Nureca received bids for 5.59 crore shares as against 14.01 lakh shares on offer on Wednesday (17 February 2021), according to the stock exchange data at 17:00 IST. The issue was subscribed 39.93 times.

The issue opened for bidding on Monday, 15 February 2021, and it will close today, 17 February 2021. The price band for the IPO was set at Rs 396-400 per share.

The IPO comprised of public issue of equity shares aggregating to Rs 100 crore (including anchor portion of 11,13,750 equity shares).

The net proceeds of the fresh issue are proposed to be utilized towards funding incremental working capital requirements of the company and general corporate purposes.

Ahead of the IPO, the company on 12 February 2021 allotted 11.13 lakh shares to anchor investors at Rs 400 per share, aggregating to Rs 44.55 crore.

Nureca recorded net profit of Rs 36.18 crore and total income of Rs 122.15 crore in the six months ended on 30 September 2020.

Nureca is a B2C company engaged in the business of home healthcare and wellness products. The company has a diversified product portfolio, which primarily caters to home healthcare sector. The company has most of the product lines supporting home health market in India, making it a one-stop solution provider. The company enables its customers with tools to help them monitor chronic ailments and other diseases, to improve their lifestyle.

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