Nureca Ltd. IPO is about to launch by next week with a subscription of 100 crores. The company has raised Rs 44.55 crore from anchor investors before the IPO is even launched. Nureca is a BTC (Business to Customer) company in-home healthcare and wellness products. Nureca has allotted 11.13 lakh equity shares to anchor investors at Rs 490. According to the BSE circular, Nexpact Limited has invested Rs 34.55 crore through 8.63 lakh equity shares, which is 77.55 per cent of Anchor Investor’s fixed shareholding.
The company wants to raise a targeted Rs 100 crore from the capital markets, for which it has got permission from the market regulator SEBI. SEBI recently on 11 January approved the Rs 100 crore IPO of Nureca Ltd. Le11 January. Nureca Ltd filed a draft Red Herring Prospectus (DRHP) with SEBI in November 2020 for an IPO.
According to DRHP, the company will use the funds raised from this IPO to meet its working capital needs and raise money for general corporate expenses. Moreover, the company will also utilise this value to enhance its visibility and brand image. Currently, Nureca Ltd manufactures wellness products, sanitarium healthcare products and develops advanced tools for monitoring people with chronic diseases. The B2C company sells its products through its website through e-commerce platforms and retailers, widespread in hundreds of cities.
Promoters will sell some of their shares through OFS to the company, while new shares will also get issued. For this IPO, the company has appointed ITI Capital as its lead manager. The company will get listed on the stocks BSE and NSE. However, when this IPO gets launched, and its issue price will be, Nureca has not yet given information.
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Nureca has significantly benefited from the circumstances that arose during the COVID-19 epidemic. Now the situation is normal; then it will be difficult for the company to get benefit again. However, the company has a better e-commerce adoption strategy through which it can maintain its business. The issue size was kept very low due to which it may become very oversubscribed. In such a situation, investors can get better listing gains.