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Nuvoco Vistas IPO Subscription Opens on 9 August, Price Band Fixed at Rs. 560 – 570

27 March 20235 mins read by Angel One
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Nuvoco Vistas Corporation will open its initial public offer for subscription on 9 August and close on 11 August.

Per the latest reports, this Nirma Group Company has set the price band for this initial public offer at Rs. 560 – 570. Also, the IPO equity share will have a face value of Rs. 10 each.

Here’s all you need to know about this development and other vital details of this upcoming public offer.

Nuvoco Vistas’ IPO Plan and More

This Mumbai-based company intends to raise Rs. 5,000 crores through this upcoming initial public offer. This IPO will comprise new shares worth Rs. 1,500 crores and an offer for sale by its promoters.

As of now, the company plans to utilise the IPO proceeds to repay its borrowings worth Rs. 1350 crores, meet working capital needs and address general corporate purposes.

What about share reservations for different investor categories and participants?

Here are the Crucial Details about Nuvoco Vistas IPO that You Need to Know!

An investor can bid for at least 26 shares in this upcoming IPO and multiples of it thereof. The equity shares will be listed on both NSE and BSE.

Here’s a break-up of subscription reservations for different investor categories –

  • Qualified institutional buyers (QIB) – 50%
  • Retail individual investor (RII) – 35%
  • Non-institutional investor (NII) – 15%

This company has appointed Axis Capital, SBI Capital Markets, ICICI Securities, J.P. Morgan India, and JSBC Securities and Capital Markets (India) Private Limited as its merchant bankers. Also, Link Intime India has been appointed as the registrar of this upcoming IPO.

Nuvoco Vistas’ IPO Timeline

Check out the tentative timeline of this upcoming IPO below –

  • IPO will open on 9 August 2021
  • IPO will close on 11 August 2021
  • Allotment of shares will be finalised on 17 August 2021
  • Refunds will be initiated on 18 August 2021
  • Shares will be credited to investors’ DEMAT account on 20 August 2021

It is expected that the IPO will be listed on the stock exchanges on 23 August 2021.

Key Things to Know about Nuvoco Vistas IPO

Nuvoco Vistas is India’s fifth-largest cement company and a market leader in the space of ready-mix concrete manufacturers.

These are among the most prominent things to note about Nuvoco Vistas –

  • In terms of capacity, this company is the largest cement company in East India.
  • The company has a robust distribution network of nearly 15,969 dealers and 225 CFAs.
  • It has a total installed capacity of 22.32 MMTPA.
  • Nuvoco boasts a diversified product portfolio, including cement, ready-mix concrete adhesives, cover blocks, and dry plaster.

Financially, this company is in a strong position as well. Here is a restated consolidated balance sheet of Nuvoco Vistas.

Fiscal Year Total Assets in Million Total Revenue in Million Profit/Loss After Tax in Million
2020-2021 Rs. 1,99,075.70 Rs. 75,226.93 (Rs. 259.19)
2019-2020 Rs. 134,443.22 Rs. 68,299.44 Rs. 2,492.55
2018-2017 Rs. 132,617.03 Rs. 71,058.88 (Rs. 264.88)

Wrapping Up

Nuvoco Vistas could be among the most lucrative investment opportunities if you plan to speculate on the recovery phase of the real estate industry. Also, the company’s diverse product portfolio and strong annual earnings offer upsides to investors. Nonetheless, interested investors should check the growth prospects and scope of earnings of the Nuvoco Vistas IPO prior to subscribing.

 

Frequently Asked Questions

  1. Who is the promoter of this company?

Dr Karsanbhai K Patel and Niyogi Enterprises Pvt Ltd are the promoters of this company.

  1. What is the minimum order quantity for Nuvoco Vistas IPO?

The minimum order quantity for this upcoming initial public offer is 26 shares, i.e., 1 lot worth Rs. 14820.

  1. What is the promoters’ holding in Nuvoco Vistas IPO?

The pre-issue shareholding of promoters in this upcoming IPO is 95.24%, whereas their post issue shareholding will be 71.03%.

  1. When will Nuvoco Vistas shares be credited to investors’ accounts?

The shares of Nuvoco Vistas IPO will be credited to investors’ DEMAT account after finalising the basis of allotment.

 

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