Nureca Ltd., a health and wellness products company, is launching its IPO today. The IPO raised around Rs 44.55 crores from two anchor investors last week. The last date for all other investors to bid for this IPO is February 17.
The company allocated around 11,13,750 shares to the anchor investors at Rs 400 per share.
The two anchor investors were Nexpact and Next Orbit Ventures.
While Nexpact purchased 8.63 lakh shares for Rs 34.55 crores, Next orbit purchased around 2.5 lakh shares for Rs 10 crores.
The share price of Nureca listed at 58.74% premium on February 25. The stock opened at Rs 634.95 on the BSE, higher compared to the issue price of Rs 400 per share. On NSE, the share price listed at Rs 615 per share, which is a 53.75% premium.
The stock hit an upper circuit on BSE at Rs 666.65 per share and on NSE at Rs 645.75 per share during the early hours of trading.
Companies | Type | Bidding Dates | |
SME | Closes Today | ||
SME | Closes Today | ||
Regular | Closes 22 Apr | ||
Regular | - | ||
Regular | - |
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Important Dates: The IPO is closing for subscription on February 17. The allotment date is around February 23 and the shares will get listed on February 26. The shares will get listed on NSE as well as BSE.
IPO details: The IPO price range is Rs 396 to 400 per share and the market lot is 35 shares. The issue size is around Rs 100 crores, which is completely a fresh issue. This includes around Rs 1 crores being set aside for eligible employees of the company.
Objective: The company is looking to use around Rs 75 crores from the proceeds of this issue towards funding its ts incremental working capital requirements and the rest towards general corporate purposes
Nureca is a digital-first company as it sells its products through online channels. It has its own website: www.drtust.in. It also seels its products though online partners like distributors, e-commerce platforms and retailers. The company has five categories of products:
Nureca IPO would be the 6th IPO in 2021 after Indian Railway Finance Corporation, Indigo Paints, Home First Finance, Stove Kraft and Brookfield India REIT.