Nureca Limited's Rs 100-crore initial public offering (IPO) will open for subscription on February 15, 2021. The public offer will close on February 17 and a price band of Rs 396-400 per share has been fixed by the company.
The proceeds of the issue will be used for funding the company's incremental working capital requirements and for general corporate purposes, the company said in a statement.
Investors can bid for a minimum of one lot of 35 equity shares and in multiples thereafter, up to 14 lots. A total of up to 75 percent of the issue will be reserved for qualified institutional buyers (QIB), up to 10 percent for retail investors and the remaining 15 percent for the non-institutional category.
Shares worth Rs 50 lakh will also be reserved for eligible employees and these will be offered at a discount of Rs 20 per share.
ITI Capital Ltd is the sole book-running lead manager and Link Intime India Private is the registrar to the issue.
The company was incorporated on November 2, 2016. It is a B2C company engaged in the business of home healthcare and wellness products, which offers quality, durability, functionality, usability and innovative designs.
The brands which are currently being used by the company include Dr Trust, Dr Physio and Trumom.
The revenue from operations for the firm has grown at a CAGR of 122.68 percent during 2018-2020 and net profit has grown at a CAGR of 43.35 percent in the same period.
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