Nureca files IPO papers with Sebi

Nureca Ltd, which owns the Dr Trust brand, has filed preliminary papers with capital markets regulator Sebi to raise Rs 100 crore through an initial public offering.
The IPO comprises issuance of equity shares worth Rs 100 crore, the draft red herring prospectus filed with Securities and Exchange Board of India (Sebi ) showed.

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. 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.

The company sells its products through online channel partners such as e-commerce players, distributors and retailers. It also sells products through its own website--http://drtrust.in.