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Business News/ Markets / Stock Markets/  Nureca shares surge over 60% on market debut

Nureca shares surge over 60% on market debut

The IPO of Nureca Limited was subscribed nearly 40 times

Nureca is a B2C company engaged in the marketing of home healthcare & wellness products.Premium
Nureca is a B2C company engaged in the marketing of home healthcare & wellness products.

Shares of Nureca Limited, which is into the business home healthcare and wellness products, made a strong debut on exchanges, surging over 60% to 665 per share as compared to issue price of 400. will get listed on exchanges today. The 100 crore public issue of Nureca, which had opened on February 15 and closed on February 17, was subscribed nearly 40 times. It had received bids for 5,59,65,945 shares against 14,01,595 shares on offer.

The category meant for qualified institutional buyers (QIBs) was subscribed 3.10 times, non-institutional investors 31.59 times and retail individual investors (RIIs) 166.65 times. The price range for the offer was at 396-400 per share while ITI Capital was the manager to the offer.

Nureca had earlier raised 44.55 crore from two anchor investors - Nexpact Limited and Next Orbit Ventures Limited - at an upper price band of 400 per equity share.

Nureca is a B2C company engaged in the marketing of home healthcare & wellness products. The company sells products through a brand portfolios consisting of Dr Trust, Trumom and Dr Physio.

Nureca is a digital-first company, wherein it sells its products through online channel partners such as e-commerce players, distributors and retailers. Currently, 95% of the revenue is derived through digital channels. Further, the company also sells its products through their own website

Nureca's had reported revenues of 99.4 crore FY20 with profit of 6.4 crore.

Its products are classified into five categories such as chronic device products which include products such as blood pressure monitors, pulse oximeters, thermometers, nebulizers, self monitoring glucose devices, humidifier and steamers; orthopaedic products which include rehabilitation products such as wheelchairs, walkers, lumbar and tailbone supports and physiotherapy electric massagers; mother and child products which include products such as breast pumps, bottle sterilizers, bottle warmers, car seats and baby carry cots; nutrition supplements which include products such as fish oil, multivitamins, probiotics, botin, apple cider and vinegar; and lifestyle products which include products such as smart scales, aroma diffusers and fitness tracker.

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Updated: 25 Feb 2021, 10:04 AM IST
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