Nuvoco Vistas shares may not have a fancy debut, say experts

Nuvoco Vistas IPO listing date: As the primary market gears up for listing phase, most of the IPOs are facing halfhearted listing led by correction in broader market and due to expensive valuations of IPOs. Photo: Courtesy company website

2 min read . Updated: 22 Aug 2021, 07:47 PM IST Livemint, Edited By Asit Manohar

Nuvoco Vistas IPO listing date: Shares of Nuvoco Vistas are going to make its debut at Indian stock market tomorrow

Nuvoco Vistas IPO listing date: Shares of Nuvoco Vistas are going to make its debut at Indian stock market tomorrow. However, the way market mood has become sideways to negative last week and Nuvoco share price nosedived in the grey market, stock market experts are of the opinion that Nuvoco share price listing may not be a fancy one. They went on to add that due to the correction in broader markets and expensive valuation of the public issue, even discounted listing can't be ruled out.

Speaking on the expected Nuvoco share price listing Abhay Doshi, Founder at UnlistedArena.com said, "As the primary market gears up for listing phase, most of the IPOs are facing halfhearted listing led by correction in broader market and due to expensive valuations of IPOs. Nuvoco Vistas too may not be spared from such trend as this issue too was expensively priced. The listing may not be a fancy and even discount listing also cannot be ruled out."

Speaking on the reason for expecting par listing of Nuvoco Vistas shares; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "The public issue got subscribed 171 per cent, which was much below to other public issues opened for subscription recently. This was mainly due to the 70 per cent money getting raised from the public issue are of OFD (Offer for Sale) in nature. This didn't go down well among the bidders. The issue is expensively priced as well, so institutions too didn't show much interest in the public issue."

Nuvoco Vistas IPO had opened for subscription on 9th August 2021 and it got subscribed 1.71 times of its offer. The price band of the public issue is from ₹560 to ₹570. The management of the Nirma Group Company aims to raise ₹5,000 crore from this issue. Out of these ₹5,000 crore, ₹3,500 was expected from OFS while ₹1,500 was planned from fresh issue.

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