Nureca Ltd will open the initial public offering (IPO) for subscription on Monday, February 15 and the issue will close on February 17. It will be the sixth public offering of the year 2021 after Indian Railway Finance Corporation, Indigo Paints, Home First Finance Company, Stove Kraft and Brookfield India REIT. The company had received SEBI’s approval to raise Rs 100 crore through the public issue a month ago on January 11. Nureca raised Rs 44.55 crore from two anchor investors ahead of the IPO, on Friday, February 12.
The main purpose behind the IPO is to use the proceedings to meet the working capital requirements of the business and to meet general corporate purposes.
If you are interested in the IPO and want to bid for the same, here the details you need to know before subscribing to the issue.
Price band: The issue will be sold in the price band of Rs 396 to Rs 400 per equity share of the face value of Rs 10 each.
Lot size: The market lot size of the IPO is 35 shares and a retail-individual investor can apply for up to 14 lots (490 shares or Rs 1,96,000). Also, shares worth Rs 1 crore have been reserved by the company for its employees which will be provided to them at a discount of Rs 20 per share.
For the Qualified Institutional Buyers (QIB) up to 75 percent of the net issue has been reserved while up to 10 percent has been reserved for the retail investors. The remaining 15 per cent is for the non-institutional category.
Registrar: The registrar for the IPO is Link Intime India Private Ltd.
How to apply: Investors can apply in Nureca limited IPO online using either UPI (offered by brokers who don’t offer banking services) or ASBA (which is available in the net banking of your bank accounts) payment method.
Nureca is engaged in the business of home healthcare and wellness products and enables customers with tools to help them monitor chronic ailments and other diseases. It sells its products through online channel partners such as e-commerce players, distributors, retailers and its own website.