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.
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?
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 –
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.
Check out the tentative timeline of this upcoming IPO below –
It is expected that the IPO will be listed on the stock exchanges on 23 August 2021.
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 –
Financially, this company is in a strong position as well. Here is a restated consolidated balance sheet of Nuvoco Vistas.
|Total Assets in Million
|Total Revenue in Million
|Profit/Loss After Tax in Million
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.
Dr Karsanbhai K Patel and Niyogi Enterprises Pvt Ltd are the promoters of this company.
The minimum order quantity for this upcoming initial public offer is 26 shares, i.e., 1 lot worth Rs. 14820.
The pre-issue shareholding of promoters in this upcoming IPO is 95.24%, whereas their post issue shareholding will be 71.03%.
The shares of Nuvoco Vistas IPO will be credited to investors’ DEMAT account after finalising the basis of allotment.
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