The IPO of Nureca Ltd. (Nureca) open for subscription on Monday at a fixed price band of ₹396-400 per share. Nureca IPO will close on 17 February. The issue comprises of fresh issue only. Of the net proceeds from the fresh issue, around ₹750 million will be utilized to fund the incremental working capital requirement of the company.
Incorporated in November 2016, 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.
The company aims to raise ₹100 crore via public issue, it already raised ₹44.55 crore from two anchor investors on February 12.
An investor can bid for a minimum of 35 equity shares and in multiples of 35 shares thereafter and up to 14 lots.
The company has reserved shares worth ₹1 crore for its employees. They will be provided shares at a discount of ₹20 apiece.
According to the company, up to 75 per cent of the net issue will be reserved for Qualified Institutional Buyers (QIB). The company has reserved up to 10 per cent for retail investors. The remaining 15 per cent has been reserved for non-institutional category.
Nureca had filed its papers with SEBI in November 2020. It obtained SEBI observations on 11 January.
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.5