Nureca-Limited-IPO-Feature-Image

Nureca-Ltd.

Nureca Limited was incorporated on November 2, 2016. It is a B2C company engaged in the business of home healthcare and wellness products products such as blood pressure monitors, pulse oximeters, thermometers, nebulizers, self-monitoring glucose devices, humidifier and steamers. products. Nureca design its products internally however contract with manufacturers and vendors to manufacture products. Presently, the company majorly outsource the manufacturing of its products to certain foreign vendors and as well as certain vendors in India under its own brand name. The current addressable segments for Nureca in India and neighboring countries are Chronic Disease Products, Mother and child care and Orthopedic products. The brands which are currently being used by the company include Dr Trust, Dr Physio and Trumom.

Nureca Limited IPO

Wants To Apply Online

 

Issue Details

Objects of the issue
  • To Fund incremental working capital requirements of  Company (Rs. 75 Cr.)
  • General corporate purpose
Issue Size Rs. 100 Crore
Face value  

Rs.10 Per Equity Share

Issue Price Rs. 396 – Rs. 400
Bid Lot 35 shares
Listing at  

BSE, NSE

Issue Opens: 15th February, 2021 – 17th February, 2021
QIB 75% of Net Issue Offer
Retail 10% of Net Issue Offer
NIB 15% of Net Issue Offer

Check Nureca Limited IPO Allotment Status

Nureca Limited IPO allotment status would be available soon after the IPO closure date. Usually the allotment comes within a week from the closing date which in this IPO yet to be announced.

One can check the allotment on the given below link with PAN number or Application number or DP Client Id. All you need to do is to follow these steps:-

  1. To Nureca Limited IPO Allotment Status
  2. Go to Application Status
  3. Select IPO as Nureca Limited
  4. Enter your PAN Number or Application Id or DP Client Id.

 

Nureca Limited IPO

Application Form

Financial Performance:

Financial-Performance

Shareholding Pattern:

Shareholding Pattern

Pre- Issue

Post Issue

Promoters & Promoters Group

93.33%

70%

Public

6.67%

30%

Source: RHP, EWL Research

Strengths:

  • Diversified product portfolio addressing the needs of varied customers

  • Well-recognized brand with a targeted marketing strategy

  • Wide sales and distribution network

  • Proven track record of robust financial performance

Key Highlights:

  • Revenue from operations has grown at a CAGR of 122.68% during Fiscal 2018 to 2020.

  • Net profit has grown at a CAGR of 43.35% during Fiscal 2018 to 2020.

  • PAT Margins of the company improved to 29.62% in September quarter of FY21 from 15.51% in FY18.

  • 95% of Revenues for Nureca come through digital channels (e-Commerce).

  • 5% revenue of the company comes from Digital BP monitors

  • Company’s own assembling plant operates at 20% capacity for FY 21

Risk Factors:

  • Experienced negative cash flows in FY20, and may in the future also.

  • Depend on third parties to manufacture product and these parties are unable to manufacture products if fail to comply with FDA.

  • For oximeter, thermometer, nebulizer, rehabilitation products and blood glucose monitoring device, it has a single-source finished goods vendor and do not have a long-term supply contract

  • Have significant working capital requirements for a continuing growth

Outlook:

Nureca classifies their products portfolio under the 5 categories such as Chronic Device Products, Orthopedic Products, Mother and Child Products, Nutrition Supplements and Lifestyle Products. Nureca has recently set up a manufacturing unit in Chandigarh where they can do final assembly of their products. During Covid-19, company’s products demand such as oximeter monitor increased due to which revenue of the company increased from Rs. 99.43 Crore in FY20  to 122.1 Crore in H1FY21.The demand for these products is expected to normalise in future. The Home Health Market in India and neighboring countries is pegged at ₹ 20,757.0 Cr in 2019 and is expected to grow to ₹ 38,920.7 Cr by 2025 at a CAGR 11.0%. The COVID-19 pandemic has been a major driver for the Chronic Disease Market, with an estimated 28% growth in revenues in 2020. Company does not have a listed peer which is engaged in a similar line of business. At the higher end of the price band of Rs. 400, the stock will be available at a PE multiple of 7.37x on FY21E annualised Post issue EPS. We would recommend subscribe to this IPO considering the future prospects of the company.

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