Stocks

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

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like