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Nureca IPO subscribed 5.73 times on Day 1, retail portion sees 31.22 times applications

BusinessToday.In     February 16, 2021

The initial public offer IPO of Nureca Ltd, was subscribed 5.73 times on the first day of subscription on Monday. The share sale received bids for 80,33,305 shares against 14,01,595 shares on offer, as per data available with the NSE.

The IPO of the firm, which is engaged in the business of home healthcare and wellness products, saw portion for non-institutional investors subscribed by 54 per cent. Issue size reserved for retail individual investors' (RIIs) was subscribed 31.22 times. The IPO opened on February 15 with price range of Rs 396-400 per share.

The share sale will close on February 17. The company plans to raise Rs 100 crore via public issue. It has already collected Rs 44.55 crore from two anchor investors on February 12. Equity shares will be listed on BSE and NSE.

Investors can bid for a minimum of 35 equity shares and in multiples of 35 shares thereafter and up to 14 lots. The company has reserved shares worth Rs 1 crore for its employees. Eligible employees will get shares at a discount of Rs 20 per share.

As per the company's DHRP, the company plans to utilise issue proceeds for funding incremental working capital requirements and general corporate purposes.

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