Hornbill Orchid India's 1.95% Stake Acquisition Escalates Nureca

Hornbill Orchid India's 1.95% Stake Acquisition Escalates Nureca

Nureca reaches upper circuit of five percent at 1,627.50 after Hornbill Orchid India acquired 1.95 lakh equity shares of the company via bulk deal on Wednesday, 23 June 2021.

Hornbill Orchid India fund bought 1,95,766 equity shares (or 1.95 percent stake) of the company at 1,549.97 per equity share through bulk deals on the BSE on 23 June 2021.

On a consolidated basis, Nureca's net profit surged 63.4% to Rs 3.89 crore on 3.4% fall in net sales to Rs 31.84 crore in Q4 March 2021 over Q4 March 2020.

Nureca is a B2C company engaged in the business of home healthcare and wellness products. The company has a diversified product portfolio, which primarily caters to home healthcare sector. The company has most of the product lines supporting home health market in India, making it a one-stop solution provider. The company enables its customers with tools to help them monitor chronic ailments and other diseases, to improve their lifestyle.

Shares of Nureca entered the stock exchanges on 25 February 2021. The stock was listed at Rs 634.95, a premium of 58.7% to the initial public offer (IPO) price of Rs 400 a share. The IPO was open between 15 February and 17 February 2021. It was subscribed 39.93 times. The price band for the IPO was set at Rs 396-400 per share.