Nureca IPO: Next week Nureca Ltd. IPO is about to come. The subscription of this 100 crore IPO will open next week. It has raised Rs 44.55 crore from anchor investors before the subscription opened. Nureca is a BTUC (business to customer) company in the business of home healthcare and wellness products. Nureca has allotted 11.13 lakh equity shares to anchor investors at a price of Rs 490.
According to the BSE circular, Nexpact Limited has invested Rs 34.55 crore through 8.63 lakh equity shares, which is 77.55 per cent of the fixed shareholding of Anchor Investor. Next Orbit Ventures Fund invested Rs 10 crore in 2.50 lakh equity shares (22.45 per cent). No trade was visible in the gray market for Nureca Limited as the issue size is very small, only Rs 100 crore.
Investors can get listing gain
According to Manalan Doshi, co-founder of UnlistedArenadotcom, Nureca has benefited greatly from the circumstances that formed during the time of the Corona epidemic. Now the circumstances are normal, then it will be difficult for the company to repeat the performance of the Corona era. However, the company has a better e-commerce adoption strategy through which it can sustain its business. According to Doshi, the issue size was kept very low due to which it may become very oversubscribed. In such a situation, investors can get better listing gains.
According to Vikas Jain, senior research analyst at Reliance Securities, Nureca operates in the highly fragmented market and has given a huge opportunity to the home healthcare segment. According to Jain, the company will grow in the coming time. Reliance Securities has rated its IPO as ‘Subscribed’ based on Nureca’s Attractive Values and Sizable Opportunity.
Nureca IPO subscription will remain open till 17 February
The IPO of Nureca IPO will open for subscription on 15 February and will close on 17 February. The company has kept the price band per share at Rs 396-400 at a face value of Rs 10. Lot size of 35 shares has been kept in the IPO. That is, it is necessary to invest at least Rs 14000 in an IPO. After this one can invest in its multiplier.
Nureca Limited is a healthcare and wellness product distributor.
The company’s objective is to provide customers with the best quality, durable and innovative tools so that their lifestyle can be improved. The company has a well-diversified product portfolio, which includes chronic disease products, orthopaedics products, mother and child products, nutritional supplements and lifestyle products. The company’s total assets stood at Rs 102.48 crore for the quarter ended 30 September 2020. At the same time, total revenue was Rs 122.97 crore. The profit after tax was Rs 36.18 crore.