IPO Update: RailTel and Nureca

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IPO Update: RailTel and Nureca
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- There are two IPOs currently open for subscription: Railtel Corp Of India Ltd (NS: RAIT ) and Nureca Ltd (NS: NURE ). RailTel opened up for a subscription yesterday and was subscribed 2.6 times on day one. The price band for the RailTel shares is Rs 93-Rs 94 and the IPO will close on February 18.

RailTel is one of the largest neutral telecom infrastructure providers in the country. It has a pan-India optic fiber network with an exclusive Right of Way (ROW) access along railway tracks in India

The Secretary of Department of Investment and Public Asset Management tweeted: Strong demand from retail investors led to full subscription of RailTel IPO within the first few hours on day1. Similar demand expected from HNI and QIB investors on day2&3.

Nureca is coming out with a Rs 100 crore IPO that has been subscribed 13.6 times as of 4:40 PM yesterday. The issue that was already oversubscribed on day one continued to see strong interest on day two. Nureca is a digital-first B2C company that operates in the health and wellness space.

The company’s flagship brand is Dr. Trust and its products are sold on e-commerce websites, the company’s own website as well as other resellers and distributors. India is a major market for wellness products and analysts have recommended a buy on the IPO. Nureca’s shares are trading at a premium of Rs 35 in the grey market. 

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