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The company has set the price band of Rs 560 - Rs 570 per equity share; Aggregate Offer Size is up to Rs 5,000 crore i.e. Fresh Issue of Equity Shares aggregating up to Rs 1,500 crore and an Offer for Sale aggregating upto Rs 3,500 crore; The Floor Price is 56 times the face value of the Equity Share and the Cap Price is 57 times the face value of the Equity Share.
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Nuvoco Vistas Corporation Limited (“Nuvoco Vistas” or the “Company”), is the fifth-largest cement company in India and the largest cement company in East India in terms of capacity, and one of the leading ready mix concrete manufacturers in India (Source: CRISIL Report). As of March 31, 2021, the Company had 11 Cement Plants with a consolidated installed manufacturing capacity of 22.32 MMTPA.
The company’s leadership team is led by Hiren Patel, Chairman and Non-Executive Director and Jayakumar Krishnaswamy, Managing Director. Nuvoco Vistas is proposing to open its initial public offering of Equity Shares on Monday, August 09 and close on Wednesday, August 11. The price band for the offer has been determined at Rs. 560 – Rs. 570 per Equity Share. The total Offer size is up to Rs. 5,000 crores with a fresh issuance of Equity Shares, aggregating up to Rs. 1,500 crores and an offer for sale of Equity Shares aggregating up to Rs. 3,500 crores, by Niyogi Enterprise Private Limited (the “Promoter Selling Shareholder”).
The Company intends to utilize the proceeds of Rs. 1,350 crores from the fresh issue for repayment/prepayment/redemption, in full or part, of certain borrowings availed of by our Company, besides general corporate purposes.
ICICI Securities Limited, Axis Capital Limited, HSBC Securities and Capital Markets India, JP Morgan India and SBI Capital Markets are the book running lead managers to the Offer.