Nureca IPO Subscription: Latest details highlighted for investors
Nureca limited IPO subscribed 39.93 times. The public issue subscribed 166.65 times in the retail category, 3.10 times in QIB, and 31.59 times in the NII category. Nureca limited IPO is a public issue of 14 lk equity shares. The issue offers 250000 shares to retail individual investors, 750,000 shares to qualified institutional buyers, 375000 shares to non-institutional investors.
Nureca limited IPO subscribed 39.93 times. The public issue subscribed 166.65 times in the retail category, 3.10 times in QIB, and 31.59 times in the NII category.
Nureca limited IPO is a public issue of 14 lk equity shares. The issue offers 250000 shares to retail individual investors, 750,000 shares to qualified institutional buyers, 375000 shares to non-institutional investors.
Nureca IPO’s Price band is Rs 396 – Rs 400, Bid Lot is35 Shares and in multiple thereof. Employees of Nureca will get a discount of Rs 20/- per share. Post Issue Implied Market Cap of Nureca will be Rs 397 – Rs 400 Cr. Book Running Lead Manager is ITI Capital and Registrar is Link Intime India.
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Nureca is a B2C company engaged in the business of home healthcare and wellness products which offers quality, durability, functionality, usability and innovative designs. Post COVID-19 the health awareness is surmounting and devices like Pulse Oximeters, Thermometers, Nebulizers, Self-monitoring glucose Devices, Humidifier and Steamers, wheelchairs, walkers, lumbar, breast pumps, bottle sterilizers, bottle warmers, car seats, baby carrycots, Nutrition supplements, Lifestyle products etc. are catching attention.
According to WHO, markets for such devices are expected to grow at a CAGR of 10% + and India is the major market with around 84%+ market share. NURECA is marketing its products in India on its own website drtrust.in and also using third-party e-commerce platforms, distributors and retailers. According to management, since the onset of the COVID-19 pandemic in March 2020, the company has responded swiftly by implementing various processes to ensure continuous and seamless operations that have resulted in the boosted top and bottom lines. NURECA is selling its products under the brand names of "Dr.Trust", "Dr. Physio" and "TRUMOM".
On the financial performance front, for the last three fiscals, on a consolidated basis, NURECA has posted total income/net profits of Rs. 20.07 cr. / Rs. 3.11 cr. (FY18), Rs. 61.98 cr. / Rs. 6.27 cr. (FY19) and Rs. 99.49 cr. / Rs. 6.40 cr. (FY20). For the first half ended on September 30, 2020, it has earned a net profit of Rs. 36.18 cr. on a turnover of Rs. 122.97 cr. According to management, the company has reaped benefits from the ongoing pandemic and such performance is likely in the near term with changing lifestyle and rising awareness for hygiene and health related products.
For the last three fiscals, Nureca has reported an average EPS of Rs. 8.28 and an average RoNW of 77.69%. The issue is priced at a P/BV of 5.42 (at the upper price band) based on its NAV of Rs. 73.78 as on September 30, 2020, and at a P/BV of 2.55 based on its post IPO NAV of Rs. 156.62 (at the upper price band).
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