Nuvoco, one of the largest cement concrete manufacturers incorporated in 1999 and a part of the Nirma Group opens for subscription today. The company is to raise Rs 5,000 crore through its public issue this week. The IPO will be the fourth largest of its kind to make its debut in 2021 so far.
Here are some key details of the Nuvoco Vistas IPO:
- The Nuvoco Vistas IPO has a considerable issue size of Rs 5,000 crore that is further broken down into a fresh issue standing at Rs 1,500 crore and an offer for sale (OFS) maintaining a robust Rs 3,500 crore.
- The anchor investments for the issue had taken place on August 6 where the company managed to raise Rs 1,500 crore from the anchor investors.
- The price band of the issue is of Rs 560 to Rs 570 per equity share with Rs 10 per equity share as the face value.
- The grey market premium of the company’s issue stood at Rs 40 on the opening day of the issue.
- The listing date for Nuvoco Vistas IPO is likely to be August 23, however the date is not yet confirmed.
- The issue has a lot size of 26 shares as the minimum while on the higher end, the lot size stands at 338 shares with 192,660 as of the allotment application cut-off price. Retail investors can apply for up to 13 lots at the upper end of the lot.
- Nucovo Vistas has a wide range of products such as cement, Ready-mix Concrete (RMX) as well as modern building materials including adhesives, wall putty, dry plaster, and cover blocks.