Nureca, which owns the Dr Trust brand, has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 100 crore through an initial public offering (IPO). The shares of the company are proposed to be listed on both BSE and NSE.
Proceeds of the issue will be used for funding incremental working capital requirements of the company and general corporate purposes. Further, through listing, the company expects to enhance its visibility and brand image among existing and potential customers and creation of a public market for equity shares in India. ITI Capital is the sole book running lead manager to the issue.
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. The company sells its products through online channel partners such as e-commerce players, distributors and retailers.
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