Subscribe To Newsletter
[newsletter_signup_form id=1]
Connect with us

Allied Industries

Nuvoco Vistas IPO Subscribed 1.71 Times On Last Day

The IPO was in a price range of Rs 560-570 per share.



The IPO was in a price range of Rs 560-570 per share.

The initial public offer of cement manufacturer Nuvoco Vistas Corporation was subscribed 1.71 times on Wednesday, the closing day for subscription. The company’s initial public offer (IPO) received bids for 10,70,27,492 shares against 6,25,00,001 shares on offer, according to data available with the exchanges.

The portion for Qualified Institutional Buyers(QIBs) was subscribed 4.23 times, non-institutional investors 66 per cent and Retail Individual Investors (RIIs) 73 per cent.

The initial public offer aggregating up to Rs 5,000 crore had a fresh issue of up to Rs 1,500 crore and an offer for sale of up to Rs 3,500 crore.

The IPO was in a price range of Rs 560-570 per share.

Nuvoco Vistas Corporation Ltd, part of the Nirma Group, last week raised Rs 1,500 crore from anchor investors.

Proceeds of the fresh issue will be used for repayment of certain loans availed by the company and general corporate purposes.

Nuvoco Vistas is a cement manufacturer with a consolidated capacity of 22.32 million metric tonnes per annum (MMTPA).

It has 11 cement plants comprising five integrated units, five grinding units, and one blending unit.

It operates cement manufacturing units in Chhattisgarh, Jharkhand, West Bengal, Rajasthan, and Haryana.

ICICI Securities, Axis Capital, HSBC Securities and Capital Markets (India), J P Morgan India, and SBI Capital Markets were the managers of the offer.

The company’s equity shares will be listed on BSE and NSE.

Source: PTI

(The story has been published from a wire feed without modifications to the text. Only the heading has been changed)

ALSO READ: IPO Of Aptus Value Housing Receives 37% Subscription On Day 2

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


© 2021 RealtyNXT | All Rights Reserved.