Nureca share price lists at Rs 634.95, a 58.7% premium over issue price
It was the sixth listing in 2021 after Indian Railway Finance Corporation, Indigo Paints, Home First Finance Company, Stove Kraft and Brookfield India REIT.
February 25, 2021 / 10:00 AM IST
Home healthcare and wellness products seller Nureca share price listed with a 58.74 percent premium on February 25, the first day of trading on the bourses. The stock opened at Rs 634.95 on the BSE, higher compared to issue price of Rs 400 per share.
On the National Stock Exchange, it started off the day at Rs 615, a 53.75 percent premium over IPO price.
The B2C vertical has raised Rs 100 crore through public issue which was subscribed 40 times during February 15-17, 2021.
The company will utilise net issue proceeds (Rs 75 crore) for incremental working capital requirements.
Nureca sells its home healthcare and wellness products through online channel partners such as e-commerce players, distributors and retailer. It also sells products through its own website drtrust.in and third party e-commerce platforms, distributors and retailers.
The company works on an asset light business model which doesn't require to invest heavily on physical assets such as plant and machinery, land and property. Its business model is scalable where company can expand its geographic presence, distribution reach & portfolio of products without incurring heavy cost.
To expand business footprint, Nureca, in October 2019, joined hands with Croma, India's first omni-channel electronics retailer from the Tata Group. As part of this tie-up, Nureca will sell products from its Dr Trust and Dr Physio brands at 30 Croma stores across the country, and this would grow with the increasing adoption of the products.