78189 SIP myths you must know!
Nureca is engaged in the business of home healthcare and wellness products and enables customers with tools to help them monitor chronic ailments and other diseases.
The initial public offerings of Nureca, which owns the Dr Trust brand, will hit the capital market on February 15. The issue will close on February 17.
Nureca is engaged in the business of home healthcare and wellness products and enables customers with tools to help them monitor chronic ailments and other diseases. The company sells its products through online channel partners such as e-commerce players, distributors and retailers. It also sells products through its own website.
Here are the key things to know about the IPO:
About the issue: The company aims to raise Rs 100 crore through the public offer. The company, which had filed its preliminary papers with Sebi in November, obtained its observations on January 11. Sebi’s observations are necessary for any company to launch public issues like initial public offer (IPO), follow-on public offer (FPO) and rights issue.
Price band: Nureca has fixed a price band of Rs 396-400 for the upcoming IPO.
Objective of the offer: As per the draft papers, proceeds of the issue will be used for funding incremental working capital requirements of the company and general corporate purposes.
Further, through the listing, the company expects to enhance its visibility and brand image among existing and potential customers and the creation of a public market for equity shares in India.
Book running lead manager: ITI Capital is the sole book-running lead manager to the issue. Shares of the company are proposed to be listed on BSE and NSE both.
Update from unlisted market: Abhay Doshi, founder, UnlistedArena.com, told Money9 the grey market is not very active as the size is very small and shares are also going to ‘T’ group. “We need to see how much subscription Nureca gets. After that maybe, the grey market may show some interest,” said Doshi.