InvestorQ : What are the terms of the Nuvoco Vistas IPO?
Angel dcosta made post

What are the terms of the Nuvoco Vistas IPO?

Juvina Maggie answered.
2 years ago

Nuvoco Vistas, which is the cement unit of Nirma Group, has fixed the price band for its Rs.5,000 crore IPO at Rs.560-570 per share. This was announced by the company on 04 August. The IPO will open for subscription on Monday 09-Aug and close on Wednesday 11-Aug. The Rs.5,000 crore IPO will be divided into the fresh issue of shares worth Rs.1,500 crore and an offer for sale or OFS for Rs.3,500 crore.

Nuvoco plans to utilize these funds to repay some of its high cost loans in its books. Interestingly, this IPO will be closely watched as it marks the first cement IPO since Burnpur Cement in the year 2007. Nuvoco Vistas was formed in 1999 and has predominantly expanded inorganically. Recently it took over Lafarge India and the cement division of Emami to take its cement capacity to 22.3 MT, the fifth largest cement capacity in India.