Nureca Files For IPO

Nureca Ltd, which owns the Dr Trust brand, has filed its preliminary papers with the Securities and Exchange Board of India (SEBI) to raise Rs 100 crore through an initial public offering (IPO).

The IPO comprises issuance of equity shares worth Rs 100 crore, as per the draft red herring prospectus filed with the capital markets regulator.

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.

ITI Capital is the sole book-running lead manager to the issue. The equity shares will be listed on the BSE and NSE.

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, to improve their lifestyle.