Nuvoco Vistas Share Price : Nuvoco Price, GMP, Review, Analysis & Details
The company is 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 real estate development. The Nirma Group forayed into the cement business in 2014 through a greenfield cement plant in Nimbol.
Thereafter, as a part of the Nirma Group the company has grown the cement businesses, through acquisitions such as the acquisition of the Indian cement business of LafargeHolcim in 2016 and in 2020 by acquiring NU Vista. The company has grown from being solely cement based to a building materials company with a vision to “Build a Safer, Smarter and Sustainable world”.
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Company’s 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 its RMX Plants are located across India.
Nuvoco Vistas Corporation Ltd IPO Details:
IPO Date: August 9th to August 11th, 2021
Total Shares for subscription: ~8.8 Crs
IPO Size: ~Rs. 5000 Cr
Lot Size: 26 shares
Price Band: Rs. 560-570/ share
Market Capitalization: ~20,400 Cr
Dates
| Offer End | : | 11 Aug 2021 |
| Allotment Finalisation | : | 17 Aug 2021 |
| Refund Initiation | : | 18 Aug 2021 |
| Listing | : | 23 Aug 2021 |
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Issue Price : Rs. 570
Nuvoco Vistas Corporation Limited, a building materials maker, has received approval of SEBI for Rs 1500 crore IPO last week, which comprises Rs 1500 crore of fresh issues and Rs 3500 crore of an offer for sale by selling the company’s stake.
Positives:
- Presence in underpenetrated market ensure high utilization and pricing power in future
- Strong Promoter Background
Risks
- Single geography risks
- High debt to equity from acquisition (Expect reduction through IPO proceeds and cash flow from operations)
The net proceeds would be utilised to deleverage the company’s balance sheet as it aims to pay off Rs 1,350 crore of borrowings and general corporate purposes.
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