Nureca Ltd Stock Market Listing: Healthcare and wellness product distributor company Nureca Limited has a strong entry into the stock market. The company’s stock is listed on BSE today at a 59 percent premium. In the IPO, the company had put a price band of Rs 400 for the shares. On the BSE today, the stock was listed at a price of Rs 635. Even after listing, the stock is seeing a boom. Nureca Limited’s IPO was open for investment from 15 February to 17 February and it received a great response from investors. The reserve portion for retail investors was subscribed more than 166 times. In such a situation the stock was expected to be good.
For the IPO, the company had a price band of Rs 396-400 per share at face value of Rs 10. Lot size of 35 shares has been kept in the IPO. That is, it was necessary to invest at least Rs 14000 in the IPO. The proceeds from the Nureca IPO will be used to meet the capital requirements for the business. At the same time, the fund will also be used in general corporate purpose.
Was subscribed 40 times
The IPO of Nureca Limited received a great response from investors. The IPO has received bids nearly 40 times. The reserve portion for qualified institutional investors was subscribed 3.10 times, while for non-institutional investors, the reserve portion was subscribed 31.59 times. At the same time, the reserve share for retail investors was subscribed 166.65 times.
About the company
Saurabh Goyal is the promoter of the company. Nureca Limited is a healthcare and wellness product distributor. The company’s objective is to provide customers with the best quality, durable and innovative tools, so that their lifestyle can be improved. The company has a well-diversified product portfolio, which includes chronic disease products, orthopedics products, mother and child products, nutritional supplements and lifestyle products.
The company’s total assets stood at Rs 102.48 crore for the quarter ended 30 September 2020. At the same time, total revenue was Rs 122.97 crore. The profit after tax was Rs 36.18 crore.