Shares of Nureca made a stellar debut on the stock exchanges on Thursday, listing at a 54% premium over its issue price. The stock opened at Rs 615 on the BSE when compared to the issue price of Rs 400 per share. The stock rose over 60% in intraday trade to touch a high of Rs 645.75.
The home healthcare and wellness products seller raised Rs 100 crore through the public issue which was subscribed 40 times during 15-17 February 2021.
The public issue was subscribed 166.58 times in the retail category, 3.10 times in the qualified institutional buyers' segment and 31.59 times in the non-institutional investors' category.
During the IPO, shares of Nureca, which owns the Dr Trust brand, were offered in the price band of Rs 396-400 per share.
Incorporated in November 2016, Nureca sells its home healthcare and wellness products through online channel partners such as e-commerce players, distributors and retailer. It also sells products through its own website drtrust.in and third party e-commerce platforms, distributors and retailers.
The company will utilise net issue proceeds (Rs 75 crore) for incremental working capital requirements.