Nuvoco Vistas Corporation IPO – Aug 9 to 11

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Nuvoco Vistas Corporation IPO – Aug 9 to 11

August 06, 2021
Nuvoco Vistas Corporation IPO – Aug 9 to 11

Nuvoco Vistas Corp. Ltd. is coming out with a fresh public issue to raise Rs 5,000 crores from the market.

Key details of the issue:

  • Issue opens – Aug 9 (Monday)
  • Issue closes – Aug 11 (Wednesday)
  • Issue size – Rs 5,000 crores
  • Price band – Rs 560 to 570 per equity share
  • Bid lot – 26 shares and in multiples thereof

And here are some details of the company and further details on the Nuvoco Vistas Corp. Ltd. issue.

Company details:

Nuvoco Vistas Corporation Limited is the fifth largest cement company in India and the largest cement company in East India in terms of capacity (Source: CRISIL Report). As of Dec 31, 2020, their cement production capacity constituted approximately 4.2% of total cement capacity in India, 17% of total cement capacity in East India and 5% of total cement capacity in North India, and they are one of the leading ready-mix concrete manufacturers in India (Source: CRISIL Report).

They are promoted by Dr. Karsanbhai K. Patel, who is a successful entrepreneur and is associated with the Nirma Group. The Nirma Group is a diversified conglomerate that manufactures products ranging from chemicals to detergents, soaps, healthcare products and is also involved in real estate development. The Nirma Group forayed into the cement business in 2014 through a greenfield cement plant in Nimbol.

They have grown from being solely cement-based to a building materials company with a vision to Build a Safer, Smarter and Sustainable world.

As of Mar 31, 2021, they have 11 cement plants (eight in East India and three in North India). Their cement plants are in the states of West Bengal, Bihar, Odisha, Chhattisgarh and Jharkhand in East India and Rajasthan and Haryana in North India, while their RMX Plants are located across India. As of Mar 31, 2021, they operate 49 RMX plants that are in key states in India, enhancing their pan-India presence.

They distribute their products through the trade segment, which mainly caters to individual home buyers, and the non-trade segment, which is mainly via direct sales to institutional and bulk buyers.

They offer a range of over 50 products across cement, RMX and modern building materials. Their diversified portfolio includes products and brands as follows:

  • Cement: The cement portfolio includes different types of cement like Ordinary Portland Cement (OPC), Portland Slag Cement (PSC), Portland Pozzolana Cement (PPC) and Portland Composite Cement (PCC)
  • Ready Mix Concrete (RMX): The portfolio in the ready-mix concrete business includes Concreto, Instamix, Artiste and X-Con range of products.
  • Modern Building Materials: The products under this category include a range of construction chemicals, tile adhesives, wall putty, dry plaster, cover blocks and ready-mix dry concrete.

Issue size: Rs 5,000 crores

Issue break-up:

  • QIB – 50% of the offer – Rs 2,500 crores
  • NIB – 15% of the offer – Rs 750 crores
  • RET – 35% of the offer – Rs 1,750 crores

Listing: NSE and BSE

Registrar: Link Intime India Private Limited

UPI: All retail applications through brokers are compulsorily in UPI mode

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