Nuvoco Vistas IPO will be open from August 9 to 11. The bidding for anchor investors which took place on August 6, managed to raise Rs 1500 ahead of its IPO. Here is a list of things to be noted before subscribing to the IPO:
1. Date
The IPO will be open from August 9 to August 11. The bidding for anchor investors will be open only for one day, August 6.
2. Price Band
The price band has been fixed at Rs. 560 – Rs. 570 per equity share. The upper end of the band will be Rs 5000 crore.
3. The IPO
The company will have a fresh issue of Rs. 1500 crores and offer for sale (OFS) of Rs. 3500 crores by the promoter Niyogi Enterprise.
4. The objective of the IPO
The proceedings from the IPO will be used for the repayment of the company’s borrowings.
5. Company Profile
Nuvoco Vistas is the fifth largest cement company in India. It is also one of the leading ready-mix concrete manufacturers in India. Nuvoco is promoted by Dr Karsanbhai K Patel, who is associated with the Nirma Group. As of December 31, 2020, its cement production capacity constituted approximately 4.2 per cent of the total cement capacity in India.
6. Strategies
According to MoneyControl, the company is planning to consolidate and grow its market share in East, North, and Central India. Nuvoco Vistas intend to focus on operational efficiencies and synergies to improve returns, whilst expanding manufacturing capabilities.
The equity shares will be finalized on August 17. It will be listed on both BSE and NSE websites.
