Nuvoco Vistas IPO to open on August 9; value band set at Rs 560-570/share

Nuvoco Vistas Corporation, a part of the Nirma Group, on Wednesday stated it has mounted a value band of Rs 560-570 a share for its Rs 5,000 crore preliminary public providing.
The three-day preliminary share-sale will open for public subscription on August 9 and conclude on August 11, the corporate introduced.
The preliminary public providing (IPO) contains recent subject of shares value Rs 1,500 crore and a suggestion on the market of Rs 3,500 crore by promoter Niyogi Enterprise.

Proceeds of the recent subject might be used to reimbursement of sure loans availed the corporate and common company goal.

Half of the difficulty measurement has been reserved for certified institutional consumers (QIBs), 35 per cent for retail traders and the remaining 15 per cent for non institutional traders.
Investors can bid for no less than 26 fairness shares and in multiples of 26 fairness shares thereafter.

Nuvoco Vistas is a cement producer with a consolidated capability of twenty-two.32 MMTPA. It has 11 cement crops comprising 5 built-in items, 5 grinding items and one mixing unit.
It operates cement manufacturing items in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana.
The firm’s management workforce is led by Hiren Patel, Chairman and Non-Executive Director and Jayakumar Krishnaswamy, Managing Director.

Nuvoco Vistas, previously Lafarge India Limited, in February 2020 introduced that it’ll purchase the 8.3 million tonne every year cement enterprise of Emami for an enterprise worth Rs 5,500 crore. The deal was authorised by Competition Commission of India (CCI) in May 2020.
ICICI Securities, Axis Capital, JSBC Securities and Capital Markets (India) Private Limited J.P. Morgan India and SBI Capital Markets are the service provider bankers.

The fairness shares of the corporate might be listed on BSE and NSE.
Founded by Karsanbhai Patel, Nirma Limited is one in every of India’s diversified conglomerates with companies throughout industrial and client merchandise starting from soaps and detergents, salt, soda ash, caustic soda and different chemical compounds. The firm was delisted from BSE and NSE in 2011.