With 66% gain, it’s a healthy listing for Nureca

Our Bureau Chennai | Updated on February 25, 2021

The stock of Nureca has made a strong listing on the stock exchanges on Thursday. The company’s shares listed at ₹ 615 on the National Stock Exchange, a premium of 54 per cent over the issue price and surged further to close at the upper circuit at ₹645.75, a 61.4 per cent gain over the IPO price. The stock saw volumes of over 2 lakh shares on the NSE and 1 lakh shares on the BSE, where Nureca closed with a 66.6 per cent gain at ₹666.65. The ₹100-crore initial public offering of Nureca was subscribed nearly 40 times. The price range of the issue was ₹396-400 a share.

The company, which owns the Dr Trust brand, will use the proceeds for funding incremental working capital requirements and general corporate purposes.

Ahead of the IPO, Nureca had raised ₹44.55 crore from two anchor investors.

Published on February 25, 2021

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