Nuvoco Vistas IPO to launch on August 9; save band residing at Rs 560-570/share

Nuvoco Vistas Company, portion of the Nirma Neighborhood, on Wednesday mentioned it has mounted a save band of Rs 560-570 a share for its Rs 5,000 crore initial public providing.

The three-day initial share-sale will launch for public subscription on August 9 and carry out on August 11, the corporate offered.

The initial public providing (IPO) contains fresh peril of shares value Rs 1,500 crore and an supply for sale of Rs 3,500 crore by promoter Niyogi Endeavor.

Proceeds of the fresh peril shall be extinct to compensation of obvious loans availed the corporate and total corporate purpose.

Half of the peril size has been reserved for qualified institutional investors (QIBs), 35 per cent for retail investors and the rest 15 per cent for non institutional investors.

Traders can dispute for on the least 26 equity shares and in multiples of 26 equity shares thereafter.

Nuvoco Vistas is a cement producer with a consolidated technique of 22.32 MMTPA. It has 11 cement flowers comprising five integrated gadgets, five grinding gadgets and one mixing unit.

It operates cement manufacturing gadgets in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana.

The company’s management group is led by Hiren Patel, Chairman and Non-Executive Director and Jayakumar Krishnaswamy, Managing Director.

Nuvoco Vistas, previously Lafarge India Restricted, in February 2020 offered that this could likely salvage the 8.3 million tonne every year cement industry of Emami for an enterprise value Rs 5,500 crore. The deal used to be authorized by Competition Commission of India (CCI) in Might 2020.

ICICI Securities, Axis Capital, JSBC Securities and Capital Markets (India) Deepest Restricted J.P. Morgan India and SBI Capital Markets are the carrier provider bankers.

The equity shares of the corporate shall be listed on BSE and NSE.

Founded by Karsanbhai Patel, Nirma Restricted is one among India’s diverse conglomerates with companies all the map in which through industrial and user merchandise ranging from soaps and detergents, salt, soda ash, caustic soda and other chemicals. The company used to be delisted from BSE and NSE in 2011.

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