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Nuvoco Vistas IPO Subscribed 1.71 Times at the End of Day 3

05 August 20226 mins read by Angel One
Nuvoco Vistas IPO Subscribed 1.71 Times at the End of Day 3
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On 11 August 2021, the third and final bidding day, Nuvoco Vistas IPO was subscribed 1.71 times. The company’s initial share sale received bids for 10,70,27,492 shares from different investor categories, whereas 6,25,00,001 equity shares were reserved in total.

Established in 1999, Novoco Vistas is one of the leading cement companies in India. Its diverse product portfolio includes cement, building materials, and more. The company filed preliminary papers with SEBI in May to raise funds worth Rs. 5,000 crores via an initial public offering. Its public issue comprised fresh issuance of Rs. 1,500 crores along with an offer for sale (OFS) worth Rs. 3,500 crores. Nuvoco Vistas fixed the price band Rs. 560 – 570.

Here, we’ll be looking into the details in relation to Nuvoco Vistas IPO performance at the end of the third and final bidding day. So, let’s dive right into it.

Nuvoco Vistas IPO Performance as of Day 3  – The Final Verdict

Here’s how the initial public offering of Nuvoco Vistas performed on the closing day across different categories of investors:

  • The qualified institutional buyers (QIBs) category received bids for 7,54,93,314 shares against an allotted portion comprising 1,78,57,143 equity shares.
  • Non institutional investors (NII) sought 88,68,782 shares out of 1,33,92,858 shares that were allotted for them.
  • Retail individual investors bid for 2,26,65,396 equity shares, whereas 3,12,50,000 units were reserved for this category.

The table below represents Nuvoco Vistas IPO subscription across different investor segments:

Investor Segment     Number of Times Subscribed
Qualified Institutional Buyers (QIBs) 4.23 times
Non Institutional Investors (NIIs) 0.66 times
Retail Individual Investors (RII) 0.73 times
Total 1.71 times

QIBs were allotted 28.57% of the public issue, whereas 21.43% and 50% of the initial public offering was reserved for NIIs and RIIs, respectively.

Anchor Investment – At a Glance

On 6 August 2021, Friday, Nuvoco Vistas mobilised funds worth Rs. 1,500 crores from anchor investors. India’s fifth-largest cement company had allocated 2.63 crores equity shares to its anchor investors at an upper band of Rs. 570 per unit.

Here are some of the investors who participated in the anchor book:

  • HDFC Life Insurance Company
  • Franklin Templeton Mutual Fund
  • Premji Invest
  • TT International
  • Wells Capital
  • SBI Pension Fund
  • APG AM
  • Carmignac
  • CI Funds
  • Axis Mutual Fund

Nuvoco Vistas aims to achieve these objectives by utilising the net proceeds from its initial public offering:

  • Repaying/prepaying or redeeming its outstanding borrowings either partly or in full
  • Meeting general corporate purposes

Nuvoco Vistas IPO Highlights: Day 1 and Day 2

Here’s a brief insight into how Nuvoco Vistas IPO performed on the first two days:

Day of Bidding QIB portion RII portion NII portion Total
Day 1 0 times 0.31 times 0.01 times 0.16 times
Day 2 0.11 times 0.51 times 0.04 times 0.29 times

Bottom Line

Nuvoco Vistas achieved its IPO target of Rs. 5,000 crores and received a total bid for 10,70,27,492 shares. Currently, Nuvoco Vistas is touted as the largest cement manufacturing company in East India when it comes to installed capacity. Besides having a robust distribution network and strong brand recognition, this company has a highly experienced and efficient management team. Accordingly, it appears to be well-placed in the industry.

In case individuals have missed out on this IPO, they can invest in shares of the company once they become listed on the bourses. However, they must consider essential factors such as the company’s weaknesses, financials and prospects before allocating their money. Also, visit this section of our website to catch the latest IPO updates.


Frequently Asked Questions

  1. Who is the registrar to Nuvoco Vistas IPO?

The registrar to Nuvoco Vistas IPO is Link Intime India Private Ltd.

  1. When will the shares of Novoco Vistas get listed on the bourses?

The tentative listing date for Nuvoco Vistas IPO is 23 August 2021.

  1. When will the shares get credited to the DEMAT account of eligible investors?

Nuvoco Vistas shares will get credited to the investors’ DEMAT account on 20 August 2021.


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