Nureca lists with a strong 60% premium over IPO price


Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading higher on Thursday, taking cues from their global peers. BSE Sensex was hovering around 51,300, while the broader Nifty 50 index crossed the 15,100 level. Top BSE Sensex gainers were Axis Bank, ONGC, IndusInd Bank, HDFC Bank, Infosys, HCL Tech, TCS, Kotak Mahindra Bank and Bharti Airtel among others. On the flip side, Nestle India, Power Grid Corporation of India and Asian Paints were trading in red in an otherwise strong trade. All the sectoral indices were trading in the positive territory. The nifty Metal index was up over 2%, while the Nifty PSU Bank index jumped nearly 2%.

The 100-crore Nureca initial public offering (IPO), which received nearly 40 times subscription, is set to make its share market debut on Thursday. during February 15-17, 2021. The home healthcare and wellness products seller issue was sold in the price band of Rs 396-400 apiece.

Nureca shares began trading on Dalal Street on Thursday at Rs 634.95 per unit, a strong listing debut over its price band of Rs 396-400 apiece. Nureca shares listed with a 58.74% premium over the IPO price on BSE. While on NSE, the shares got listed at Rs 615 apiece, a 53.75% premium over the issue price. The Rs 100 crore public issue was subscribed 39.93 times during the three-day bidding process. 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 issue received bids for 5.59 crore shares against 14.01 lakh shares on offer. Nureca shares were seen trading at Rs 480, implying a premium of 20 per cent or Rs 80 apiece in the grey market on Thursday. Earlier this week, shares were commanding a grey market premium of 14% in the grey market.

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