Nureca Ends Debut 62% Higher; 16 IPOs Likely in March

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Nureca Ends Debut 62% Higher; 16 IPOs Likely in March
Credit: © Reuters.

By Aditya Raghunath -- It was a good day for investors who subscribed and were allotted shares of digital-first health and wellness company Nureca Ltd (NS: NURE ). The stock made its debut on the markets today and closed trading at Rs 645.75, up 61.44% from its issue price of Rs 400. It listed at Rs 615, a 53.75% premium over its issue price.

Nureca sells its healthcare and wellness products through e-commerce, online retailers, and distributors. It also has its flagship website Dr.Trust. It’s an asset-light business model and Nureca has taken its first steps into offline retail by teaming up with Croma, the multi-format retail store from the Tata Group. Nureca will start selling its Dr. Trust and Dr. Physio brands at 30 Croma stores across the country.

The first two months have seen eight IPOs in the Indian market that have raised Rs 12,720 crore compared to 2020 when not a single company listed on the bourses.

March is expected to have 10-16 IPOs including MTAR Tech, Suryoday Small Finance Bank, Puranik Builders, Barbeque Nation, Kalyan Jewellers India, and India Pesticides. If all 16 companies list in March, they will raise over Rs 25,000 crore.

Investor appetite for IPOs has grown leaps and bounds in 2020 and the trend seems to continue well into 2021.

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