Nureca, a B2C company engaged in the business of home healthcare and wellness products, is likely to finalise its IPO share allotment on February 23, as per the schedule available in its prospectus. The Rs 100-crore public issue closed on February 17 with subscription of 40 times.
The company finalises the share allotment in consultation with merchant bankers. After the finalisation of share allotment, the process of initiation of refunds (to anchor investors if any) and unblocking of funds from ASBA account will take place around February 24 and shares will get credited to the demat accounts of eligible investors around February 25, followed by the commencement of trading in equity shares on February 26.
Investors can check the IPO share allocation on the BSE's website. Select Equity and Issue Name (Nureca Limited), and enter Application Number and PAN Number, then finally click on Search button to know the application status.
The allotment status can also be checked on the IPO registrar's website. Investors have to first select either PAN, Application Number or DP Client ID. Select company name (Nureca Limited - IPO) and accordingly enter either PAN Number, Application Number or DP Client ID, and then click on Search button to know whether shares allotted or not by the company.
The public issue was opened for subscription on February 15. The company will utilise issue proceeds for its incremental working capital requirements (Rs 75 crore).
Nureca enables its customers with tools to help them monitor chronic ailments and other diseases, to improve their lifestyle. The company sells its products through online channel partners such as e-commerce players, distributors and retailer. Further, it also sell products through its own website drtrust.in.
The company classifies its products portfolio in five categories such as chronic device products (blood pressure monitors, pulse oximeters, thermometers, nebulizers, self monitoring glucose devices, humidifier and steamers), orthopedic products (wheelchairs, walkers, lumbar and tailbone supports and physiotherapy electric massagers), mother and child products (breast pumps, bottle sterilizers, bottle warmers, car seats and baby carry cots), nutrition supplements (fish oil, multivitamins, probiotics, botin, apple cider and vinegar), and lifestyle products (smart scales, aroma diffusers and fitness tracker.)
The home health market in India and neighbouring countries is 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, driven by rising awareness of Health and wellness, increasing spending power, growing burden of chronic diseases, and the need for Healthcare stakeholders to reduce healthcare costs, says Frost & Sullivan.
It was the sixth initial public offering this year, after Indian Railway Finance Corporation, Indigo Paints, Home First Finance Company, Stove Kraft and Brookfield India Real Estate Trust.
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