The latest public issue is that of Nureca, a home healthcare and supplements company. Here are the IPO's key details at a glance.
Price band: ₹396-400 per equity share
Lot size: 35 shares
IPO size: ₹100 crore
Issue opens: 15 February 2021
Issue closes: 17 February 2021
Basis of allotment date: 23 February 2021
Initiation of refunds: 24 February 2021
Credit of shares to Demat account: 25 February 2021
Expected listing date: 26 February 2021
Registrar: Link Intime
Contact: Shanti Gopalkrishnan, +91 22 4918 6200
E-mail: nureca.ipo@linkintime.co.in
Founded in November 2016, the company is a producer, importer, exporter and retailer of pharmaceuticals, drugs, and medical and diagnostic equipment. As of 2019, the home healthcare market in India and neighbouring countries (Nepal, Bhutan, Maldives, Sri Lanka and Bangladesh) is pegged at ₹20,757 crore and is expected to grow to ₹38,920 crore by 2025 at a CAGR 11.0%. Nureca caters to this market with products like blood pressure monitors, glucose-monitoring devices, wheelchairs, walkers, fitness trackers and nutritional supplements.
Although the company designs its products in house, it majorly outsources the manufacturing to domestic and overseas vendors. In July 2020, it set up a manufacturing plant in Chandigarh where the company finishes the final assembly of its products.
Nureca sells its products primarily via e-commerce under three brands—Dr Trust, Dr Physio and Trumom. In fact, 95% of the company’s revenues come through digital channels. To expand its offline footprint, in 2019, it collaborated with Tata’s Croma chain of stores to sell healthcare products.
The company’s business has seen a consistent uptick. Here's a look.
| Financials | FY18 | FY19 | FY20 | H1, FY21 |
| Revenue from operations (₹ cr) | 20 | 61.8 | 99.4 | 122.1 |
| Profit (₹ cr) | 3.1 | 6.2 | 6.4 | 36.1 |
About the issue
Nureca aims to raise ₹100 crore through its maiden issue. The company has set a price band of ₹396-400 per equity share and a lot size of 35 shares. Considering the upper end of the price band, the cost per lot comes to ₹14,000. Proceeds from the issue will go towards funding working capital requirements of the company and for general corporate purposes.
IPO allocation quota
| QIB | HNI | Retail |
| 75% | 15% | 10% |
To know more about the IPO, read its red herring prospectus here. The issue opens on 15 February and you can subscribe to the Nureca IPO with Upstox here. Meanwhile, we’ll keep you posted on all the updates about this IPO and the public issues that follow!