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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.

Listing Day: February 25

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.

Day 3: February 17

As of 6.00 p.m.

  • The Nureca IPO was subscribed 39.93 times so far on day 3 of bidding.
  • The issue received bids for 5.59 crore shares against an offer size of 14.01 lakh shares.

Subscription Status:

  • Retail investors: 166.65 times
  • Employees: 4.82 times
  • Non-institutional investors: 31.59 times
  • Qualified Institutional Buyers (QIB): 3.1 times

Day 2: February 16

As of 5.15 p.m.

  • The Nureca IPO was subscribed 14.77 times so far on day 2 of bidding.
  • The issue received bids for 2.07 crore shares against an offer size of 14.01 lakh shares.

Subscription Status:

ipo blog cta
  • Retail investors: 80.33 times
  • Employees: 2.49 times
  • Non-institutional investors: 1.49
  • Qualified Institutional Buyers (QIB): yet to bid
    The reserved portion of QIBs has to get at least 90% subscription for the issue to be successful.

As of 2.15 p.m.

  • The Nureca IPO was subscribed 10.52 times so far on day 2 of bidding.
  • The issue received bids for 1.47 crore shares against an offer size of 14.01 lakh shares.

Subscription Status:

  • Retail investors: 57.36 times
  • Employees: 1.68 times
  • Non-institutional investors: 96%
  • Qualified Institutional Buyers (QIB): yet to bid
    The reserved portion of QIBs has to get at least 90% subscription for the issue to be successful.

Day 1: February 15

As of 5.30 p.m.

  • Nureca IPO was subscribed 5.73 times so far on Day 1 of bidding.
  • The IPO has received bids for 80.33 lakh shares against the IPO size of 14.01 lakh shares.

Subscription status for investor categories:

  • Retail Investor: 31.23 times
  • Employees: 91%
  • Non-Institutional Investors: 54%
  • Qualified Institutional Buyers: Yet to bid

As of 2.20 p.m.

  • Nureca IPO was subscribed 3.64 times so far on Day 1 of bidding.
  • The IPO has received bids for 25.17 lakh shares against the IPO size of 14.01 lakh shares.

Subscription status for investor categories:

  • Retail Investor: at least 20 times
  • Employees: 50%
  • Non-Institutional investors: 18%
  • Qualified Institutional Buyers: Yet to bid

As of 1.20 p.m.

  • Nureca IPO was subscribed 3.08 times so far on Day 1 of bidding.
  • The IPO has received bids for 25.17 lakh shares against the IPO size of 14.01 lakh shares.

Subscription status for investor categories:

  • Retail Investor: 17 times
  • Employees: 40%
  • Non-Institutional investors: 17%
  • Qualified Institutional Buyers: Yet to bid

Other Details of the IPO

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

About The Company

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:

  • Chronic Devices
  • Orthopaedic products
  • Mother and child products
  • Nutrition Supplements
  • Lifestyle 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.

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