Nuvoco Vistas get SEBI nod for IPO worth 5000 crore rupees | Nuvoco Vistas IPO Update

Nuvoco Vistas IPO 2021 Update : Nuvoco Vistas has got SEBI’s nod to raise Rupees 5,000 crore through IPO (Initial Public Offering). Nuvoco Vistas had filed preliminary IPO Papers in the May 2021 with SEBI and then obtained SEBI’s observations on July 16, 2021

Nuvoco Vistas IPO contains below shares for sale

  • Fresh Issuance – Shares worth Rs. 1500 crore
  • Offer for sale (Promotor’s) – Shares worth Rs. 3500 crore
Nuvoco Vistas IPO
Nuvoco Vistas IPO

The raised money will be used for below things:

  • To repay company’s borrowings or loan availed by the company.
  • General corporate purposes.

About Company Nuvoco Vistas

Nuvoco Vistas Corp Ltd. is the fifth-largest player in India and the largest cement company in East India, in terms of capacity, with a consolidated capacity of 22.32 MMTPA.

Nuvoco Vistas Corp. Ltd, a Nirma Group company, started operations in India in 1999 via acquisitions. Nirma Group forayed into the cement business in 2014 through a greenfield cement plant in Nimbol. Thereafter, they have grown the cement business, through acquisition of the Indian cement business of LafargeHolcim in 2016 and NU Vista (formerly Emami Cement Limited) in 2020. Today, they have grown from being solely cement based to a building materials company with a vision to ‘Build a Safer, Smarter and Sustainable World’.

Appointed merchant bankers to advise & support IPO:

Nuvoco Vistas has appointed few merchant bankers for the IPO which includes Axis Capital Limited, ICICI Securities Ltd, HSBC Securities and Capital Markets (India) Private Limited, JP Morgan India Private Limited and SBI Capital Markets Limited. Company is going to be listed on both the exchanges BSE and NSE.

Nuvoco Vistas IPO 2021 | Nuvoco IPO | Nirma Group Company IPO.