The Rs 100-crore initial public offering of Nureca, the solution provider of home healthcare products in India, has been subscribed 5.73 times so far on February 15, the first day of bidding.
The full subscription of public issue is largely backed by retail investors whose reserved portion has been subscribed more than 31.23 times, and that of employees' is 91 percent subscribed.
The portion set aside for non-institutional investors witnessed subscription of 54 percent, while qualified institutional buyers are yet to put in their bids.
The offer has received total bids of 80.33 lakh equity shares against IPO size of 14.01 lakh shares, the subscription data available on the exchanges showed.
Nureca IPO: Top 10 things to know before subscribing the issue
The offer size excluded anchor book through which the company already raised Rs 44.55 crore on February 12. The price band for the issue has been fixed at Rs 396-400 per share.
The company has reserved Rs 1 crore worth of shares in the IPO for its employees who will get those shares at a discount of Rs 20 per share.
The company will utilise IPO proceeds for funding incremental working capital requirements.
It is the smallest public issue in size among IPOs launched so far in 2021. Indian Railway Finance Corporation, Indigo Paints, Home First Finance Company, Stove Kraft and Brookfield India Real Estate Trust, so far, launched in the current year since January.
Nureca is a B2C company engaged in the business of home healthcare and wellness products. It enables customers with tools to help them monitor chronic ailments and other diseases, to improve their lifestyle.
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