About the Company:
Nureca is a B2C company engaged in the business of home healthcare and wellness products, which offers quality, durability, functionality, usability and innovative designs.
Company enables the customers with tools to help them monitor chronic ailments and other diseases, to improve their lifestyle. Company believes in innovation and catering new products to the ever-growing needs of the home health care sector.
Nureca is a digital first company wherein company sells its products through online channel partners such as e-commerce players, distributors and retailer. Further, company also sell the products through its own website drtrust.in
Company has most of the product lines supporting home health market in India, making it a one-stop solution provider. Dr Trust is a known for its innovative products in the market.
Company’s Product portfolio is classified under the following five categories such as:
Chronic Device Products – which includes products such as blood pressure monitors, pulse oximeters, thermometers, nebulizers, self monitoring glucose devices, humidifier and steamers.
Orthopedic Products – which includes rehabilitation products such as wheelchairs, walkers, lumbar and tailbone supports and physiotherapy electric massagers.
Mother and Child Products – which includes products such as breast pumps, bottle sterilizers, bottle warmers, car seats and baby carry cots.
Nutrition Supplements – which includes products such as fish oil, multivitamins, probiotics, botin, apple cider and vinegar.
Lifestyle Products – which includes products such as smart scales, aroma diffusers and fitness tracker.
Company’s Brand Logo & Product Category Description:
Products sold by the Company:
- Dr. Trust Wheelchair.
- Dr. Trust Walker.
- Dr. Trust Walker with wheels.
- Dr. Physio Full Body Massager.
- Dr. Trust Fish oil.
- Dr. Trust Multivitamins.
- Dr. Trust Balance Scale.
- Dr. Trust Fitness Tracker Smart band.
Company’s Distribution Network:
Nureca is a digital first company where in company sells the products through online channels partners such as e-commerce players, distributors and retailer.Further, company also sell its products through company’s own website drtrust.in
Currently, 95% of revenues for the Company comes through digital channels (e-Commerce).
Tie up with Croma:
To expand the business footprint, Nureca, in October 2019, joined hands with Croma, India’s first omni-channel electronics retailer from the Tata Group, to emerge as the very first company to sell healthcare and wellness products through Croma stores.
As part of this tie-up, Nureca will sell products from its Dr Trust and Dr Physio brands at 30 Croma stores across the country.
Competition in the Business:
Nureca competes with local and global companies operating in India. The market is extremely fragmented with over fifty players, most of them Indian, with mostly generic products, showcasing no significant competitive advantage in terms of innovation or differentiation.
There are numerous other players in the market, like Dr Morepen, Health Sense, Agaro, Lifelong, Omron, Philips, Johnson and Johnson, Roche, Bayer
Details of installed capacity at Company owned manufacturing unit:
Management Team:
- Mr. Saurabh Goyal (Designation: Chairman and Managing Director)
- Mrs. Smita Goyal (Designation: Designation: Non-Executive Director)
Objectives of the Issue:
- Funding incremental working capital requirements of the Company.
- General corporate purposes.
Positives for the Company:
Growth in Home Health Segment.
- The Home Health Market in India and neighbouring countries is pegged at Rs.20,757.0 crore in 2019 and is expected to grow to Rs.38,920.7 crore by 2025 at a CAGR 11.0%.
- The growth is driven by rising awareness of Health and wellness, increasing spending power, growing burden of chronic diseases, and the need for Healthcare stakeholders to reduce healthcare costs.
Marketing & Distribution of Products:
- Company markets and sells the products across India through company’s own website i.e. drtrust.in and third party e-commerce platforms, distributors and retailers and manage the sales and marketing activities through our Corporate Office.
- Company believes that this distribution network ensures that the products are easily available in almost any part of India.
- In addition to leveraging and engaging the distribution network for marketing initiatives, company also undertake direct promotional initiatives like advertising the products through digital marketing.
Reputed Brand with Constant Innovation:
- Company’s brands i.e Dr. Trust, Dr. Physio and Trumom have built a reputation of introducing innovative products that appeal to Indian customers.
- Company combines the technical expertise with an understanding of the Indian home healthcare market developed through market feedback and extensive interaction with the vendors.
- Through these efforts, company seeks to be the first to introduce innovative products in the market with unique functionalities that create new demand.
- For example, Nureca has launched BP monitors which can be connected to a mobile phone through bluetooth or our own application i.e. Dr. Trust BP Connect App for remote monitoring of the patient.
Financials of the Company:
| (in Crores) | FY 18 | FY 19 | FY 20 | 30th Sept 2020 |
|---|---|---|---|---|
| Revenue | 20.06 | 61.98 | 99.48 | 122.9 |
| Net Profit | 3.1 | 6.2 | 6.3 | 3.61 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 15th February 2021 |
| Issue Closes on:. | 17th February 2021 |
| Issue Price | Rs.396 – 400 |
| Face Value | Rs.10 |
| Retail Category Allocation | 10% |
| Minimum Lot | 35 shares |
| Minimum Investment | Rs.14,000 |
| Issue Constitutes | 25% |
| Issue Size | Rs. 100 cr ($14 million) |
| Market Cap | Rs. 400 cr ($54 million) |
| Listing at | NSE & BSE |
| Equity Shares Offered (Fresh) | 25,00,000 |
| Equity Shares Prior to the Issue | 75,00,000 |
| Equity Shares after the Issue | 1,00,00,000 |
Also Read : List of Upcoming IPO’s in India.
Important Dates:
| Finalization of Basis of Allotment | On or Before 23rd February 2021 |
| Initiation of Refunds | On or Before 24th February 2021 |
| Credit of Equity Shares: | On or Before 25th February 2021 |
| Listing Date: | On or Before 26th February 2021 |
Subscription Details:
| (Subscription-Category-Wise (no. of times) Till time : 05:00 PM) | Shares Offered | 15th Feb | 16th Feb | 17th Feb |
|---|---|---|---|---|
| QIB | 7,50,000 | 0.00 | 0.00 | 3.10 |
| NII | 3,75,000 | 0.54 | 1.48 | 31.6 |
| Retail | 2,50,000 | 31.22 | 80.32 | 166.6 |
| Employee | 26,595 | 0.90 | 2.49 | 4.82 |
| TOTAL | 14,01,595 | 5.73 | 14.77 | 39.92 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 9.14 | 43.76 | 42.82% | 73.78 |
| Check IPO Allotment Status: |
|---|
Link InTime Website https://linkintime.co.in/PublicIssue/BSE IPO Website: https://www.bseindia.com/IPO/Allotment |
| Company Contact Info: |
|---|
| Nureca Ltd 128 Gala Number Udyog Bhavan, 1st Floor Sonawala Lane, Goregaon (East), Mumbai- 400063, Maharashtra, India. Tele: +91-22-49616173 E-mail: cs@nureca.com Website: www.nureca.com |
| IPO Registrar Info: |
|---|
| Link Intime India Private Limited C-101, 1st floor, 247 Park, L.B.S. Marg, Vikhroli (West) Mumbai 400 083, Maharashtra, India. Tel: +91 22 4918 6200 E-mail: nureca.ipo@linkintime.co.in Website: www.linkintime.co.in |
| Lead Manager to the Issue: |
|---|
| ITI Capital Limited Naman Midtown, ‘A’ Wing, 20th Floor, Senapati Bapat Marg, Elphinstone (West) Mumbai – 400 013, Maharashtra, India. Tel: +91 22 4031 3371 Email: ipo.nureca@iticapital.in Website: www.iticapital.in |
