Nureca shares started trading on Dalal Street on Thursday at Rs 634.95 per unit, a robust listing debut more than its value band of Rs 396-400 apiece. Nureca shares listed with a 58.74 per cent premium more than the IPO value on BSE. While on NSE, the shares got listed at Rs 615 apiece, a 53.75 per cent premium more than the problem value. The Rs one hundred crore public problem was subscribed 39.93 occasions through the 3-day bidding approach. The category meant for certified institutional purchasers (QIBs) was subscribed 3.10 occasions, non-institutional investors 31.59 occasions and retail person investors (RIIs) 166.65 occasions. The problem received bids for 5.59 crore shares against 14.01 lakh shares on present. Nureca shares have been observed trading at Rs 480, implying a premium of 20 per cent or Rs 80 apiece in the grey industry on Thursday. Earlier this week, shares have been commanding a grey industry premium of 14 per cent in the grey industry.
Check Live Price: Nureca Ltd
Not more than 75 per cent of Nureca’s IPO was reserved for Qualified Institutional Buyers (QIB). The organization had reserved 10 per cent of the problem for the retail investors and the remaining 15 per cent for Non-Institutional category. The problem also integrated a reservation of equity shares worth Rs 50 lakh for subscription by eligible workers. A discount of Rs 20 per share was also supplied to eligible workers who placed bids in the employee reservation portion. Bidding for the problem was to be in a lot size of 35 equity shares and multiples thereafter.
Nureca has a nicely-diversified item portfolio which includes chronic device items, orthopaedic items, mother and youngster items, nutrition supplements, and way of life items to meet the Indian healthcare industry specifications. It is the initially digital organization to sell such items by means of its web site drtust.in and other on the web partners i.e. e-commerce players, retailers, and distributors. Analysts had mixed views on the Nureca problem. Those at Reliance Securities had stated that offered the massive chance in the house healthcare segment, development momentum may sustain in subsequent years. They had offered ‘subscribe’ rating to the problem.
While these at BP Equities Pvt. Ltd. (Institutional Equities), had encouraged to ‘avoid’ the problem. Analysts stated that on the valuation front, at the upper value band, the organization is valued at 63x P/E based on FY20 numbers thinking of the diluted equity shares. “However, we feel the valuation is very stretched and the future growth sustainability remains a cause of concern for long term outlook,” they added.
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