NEW DELHI,june 15
The initial public offering (IPO) of cement manufacturer Nuvoco Vistas Corporation, will open for subscription on Monday, August 9, 2021, at a price band of Rs 560-570 per share. The offer will be available till Wednesday, August 11, 2021.The cement manufacturer, which is a part of the Nirma Group, has a consolidated capacity of 22.32 million metric tonnes per annum (MMTPA). It has 11 cement plants comprising five integrated units, five grinding units and one blending unit. It operates cement manufacturing units in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana.
Through the offer, Nuvoco Vistas aims to raise Rs 5,000 crore with the help of a fresh issue of shares worth Rs 1,500 crore and an offer for sale of Rs 3,500 crore by promoter Niyogi Enterprise .Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non institutional investors.Investors who wish to subscribe to the Nuvoco Vistas IPO can bid in a lot of 26 equity shares and multiples thereafter. At the upper price band, they will be shelling out Rs 14,820 to get a single lot of Nuvoco Vistas Corporation. The shares will be listed on both BSE as well as the National Stock Exchange (NSE).The applicants also must note that the cut-off time for UPI mandate confirmation is Thursday, August 12, 2021, upto 12:00 pm. If they fail to do so then their application may not be considered. ICICI Securities, Axis Capital, HSBC Securities and Capital Markets (India), JP Morgan India and SBI Capital Markets are the book running lead managers to the IPO while Link Intime India is the registrar of the issue. Before heading into the IPO, Nuvoco Vistas Corporation raised Rs 1,500 crore (Rs 14,99,99,99,160) from 66 anchor investors in lieu of 2,63,15,788 equity shares at Rs 570 each, data from the stock exchanges showed.
