Nuvoco Vistas Corporation to open IPO on August 9, Details here

The business enterprise is making plans to raise Rs 5,000 crore through public offer, comprising a clean problem of Rs 1,500 crore and a suggestion for sale of Rs 3,500 crore by promoter Niyogi Enterprise. 

Nuvoco is said to be the fifth-largest cement company in India and the largest in East India. The company’s manufacturing capacity is estimated to be 4.2 per cent of total cement capacity in India as of December 31, 2020. 17 per cent of total cement capacity in East India and 5 per cent of total cement capacity in North India. It is also known for leading the largest ready mix concrete mass produce in India. 

Nuvoco Vistas Corporation is promoted by Dr Karsanbhai K Patel who is associated with the Nirma Group is reported to introduce its public issue for subscription on August 9. It is said to be the 6th company to establish itself in IPO in the present month after Devyani International, Windlas Biotech, Exxaro Tiles, Krsnaa Diagnostics, and CarTrade Tech. The issue launched by the company is said to close on August 11. The trouble will close on August eleven.

The anchor investor bidding date could be one running day prior to the provide opening date – August 9, according to the RHP. The business enterprise is making plans to raise Rs 5,000 crore through public offer, comprising a clean problem of Rs 1,500 crore and a suggestion for sale of Rs 3,500 crore by promoter Niyogi Enterprise. 

The organization will reveal details about price band and lot length in a press conference to be held on August 4. The net proceeds from the current problem may be utilised for repaying of borrowings (Rs 1,350 crore), and generic corporate purposes.

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