Nureca makes stellar market debut, lists at 53.75% premium

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Shares of Nureca Limited made a stellar market debut on Thursday. The stock opened for trading at Rs 615 on the National Stock Exchange, compared to the issue price of Rs 400, marking a premium of  53.75%. On the BSE, Nureca opened at Rs 634.95, at a premium of 58.74%.

The Rs 100 crore-public issue received bids for 5,59,65,945 shares against 14,01,595 shares on offer, according to data available with the NSE. The quota reserve for retail individual investors was subscribed 166.65 times, while the category meant for qualified institutional buyers (QIBs) was subscribed 3.10 times and non-institutional investors 31.59 times.

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. 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.

It was the sixth initial public offering this year, after Indian Railway Finance Corporation, Indigo Paints, Home First Finance Company, Stove Kraft and Brookfield India Real Estate Trust.