Healthcare and wellness products distributor Nureca will open its initial public offering (IPO) for subscription on February 15, with the price band fixed at Rs 396-400 per share.
The company plans to raise Rs 100 crore through the issue, which includes a reservation of shares worth Rs 1 crore for its employees. The eligible employees will get shares at a discount of Rs 20 a share.
Investors can bid for a minimum of 35 equity shares and in multiples of 35 shares thereafter. The issue will close on February 17, 2021.
Nureca will utilise the proceeds for incremental working capital requirements and general corporate purposes.
A B2C company, Nureca is engaged in the business of home healthcare and wellness products. The company enables its customers with tools to help them monitor chronic ailments and other diseases to improve their lifestyle.
The company sells products through online channel partners such as e-commerce players, distributors and retailer and through own website drtrust.in.
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The home health market in India and neighbouring countries was pegged at Rs 20,757.0 crore in 2019 and is expected to grow to Rs 38,920.7 crore by 2025 at a CAGR 11 percent.
Nurcea classifies its product portfolio in five categories such as chronic , orthopaedic, mother and child products, nutrition supplements and lifestyle products.
The book running lead managers to the issue is the ITI Capital. The company will list its equity shares on the BSE and NSE.
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