Nureca listing today: Share price shoots up, lists at Rs 615, gives stellar returns to retail investors

Nureca listing today: Home healthcare and wellness brand Nureca got listed at Rs 615 (at 54% premium) over the issue price of Rs 400. Retail Investors who got allotment are delighted as on minimum lot size of Rs 15000, they are making profit of Rs 7800. This is exciting and retail participants should be happy who got the allotment. Nureca share price today is Rs 630, up Rs 230 or 57.5%. 

The IPO, which was open for bidding for three days from February 15 to February 17, was subscribed 39.92 times. The public issue was subscribed 166.58 times in the retail category, 3.10 times in qualified institutional buyers segment and 31.59 times in the non-institutional investor’s category. The price range for the offer was Rs 396-400 per share. The shares of Nureca will be listed on the BSE and NSE on February 26.

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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. The company enables its customers with tools to help them monitor chronic ailments and other diseases to improve their lifestyle.

Nureca believes in innovation and catering new products to the ever-growing needs of the home healthcare sector. The company is digital-first, wherein it sell its products through online channel partners such as e-commerce players, distributors and retailers. Further, it also sells its products through its own website drtrust.in.

Nureca’s products portfolio is classified under the following five categories:

•  Chronic Device Products – Includes products like blood pressure monitors, pulse oximeters, thermometers, nebulizers, self-monitoring glucose devices, humidifiers and steamers.
•  Orthopaedic Products – Includes rehabilitation products like wheelchairs, walkers, lumbar and tailbone supports and physiotherapy electric massagers.
•  Mother and Child Products – Includes products like breast pumps, bottle sterilizers, bottle warmers, car seats and baby carry cots.
•  Nutrition Supplements – Includes products like fish oil, multivitamins, probiotics, botin, apple cider and vinegar.
•  Lifestyle Products – Includes products like smart scales, aroma diffusers and fitness trackers.

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).