Nuvoco Vistas IPO to open on August 9; Price bands are set at RS 560-570 per share

New Delhi: Nuvoco Vistas Corporation, part of the Nirma Group, on Wednesday said it has repaired the ribbon price of Rs 560-570 per share for the initial public offering of Rs 5,000 Crore.
The three-day initial sales will be open to public subscribing to August 9 and concluded on August 11, the company announced.
Initial Public Offering (IPO) consists of fresh stock issues worth 1,500 crore and offers for sale of RS 3,500 Crore by promoter Niyogi Enterprise.
The results of fresh problems will be used for certain loan repayments available companies and public company goals.
Half of the size of the problem has been reserved for qualified institutional buyers (Qibs), 35 percent for retail investors and the remaining 15 percent for non-institutional investors.
Investors can bid for a minimum of 26 equity shares and in multiples of 26 equity shares afterwards.
Nuvoco Vistas is a cement producer with a consolidated capacity of 22.32 mmTpa.
It has 11 cement plants consisting of five integrated units, five milling units and one blending unit.
It operates a cement manufacturing unit in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana.
The company’s leadership team was led by Hiren Patel, Chair and Non-Executive Director and Jayakumar Krishnaswamy, Implementing Director.
Nuvoco Vistas, Previously Lafarge India Limited, in February 2020 announced that he would get 8.3 million tons per Annum Semen Emami business for the value of the company Rs 5,500 Crore.
The agreement was approved by the Indian Competition Commission (CCI) on May 2020.
ICICI Securities, AXIS Capital, JSBC Securities and Capital Markets (India) Private Limited J.
P.
Morgan India and SBI Capital Markets are trader bankers.
The company’s equity stock will be registered with BSE and NSE.
Founded by Karanbhai Patel, Nmira Limited is one of the diverse Indian conglomerates with businesses throughout industrial products and consumers starting from soap and detergent, salt, soda ash, caustic soda and other chemicals.
The company was delisted from BSE and NSE in 2011.