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Nuvoco Vistas has three company verticals, viz.
cement, ready-mix concrete and contemporary building materialsNuvoco Vistas Corporation, the cement arm of the Nirma Group, has actually received approval from the market regulator Securities and Exchange Board of India (SEBI) for its Rs 5,000-crore initial public offering (IPO).
Nirma was de-listed from the stock market nine years ago, although it continues to be a household detergent brand across the country.
The Nuvoco Vistas' listing will be a considerable advancement for the cement sector as Burnpur Cement was the last cement business to be listed on the Indian bourses way back in November 2007.
Nuvoco Vistas Corporation's IPO will make up a fresh issue of shares aggregating up to Rs 1,500 crore and a Sell (OFS) of as much as Rs 3,500 crore by the promoter.
The business had filed its draft red herring prospectus (DRHP) with SEBI on May 6.
The earnings from the share sale will be utilized to repay financial obligation worth Rs 1,350 crore and for general business purposes.Nuvoco Vistas is the fifth biggest cement player, by capability.
It has 3 business verticals, viz.
cement, ready-mix concrete and contemporary building materials.
It has cement plants throughout Chhattisgarh, Rajasthan, Haryana and West Bengal, and has also diversified into building materials with over 50 items across cement, all set mix concrete and modern-day structure materials.Nuvoco Vistas' listed peers include Ultratech Cement and Shree Cement.ICICI Securities, Axis Capital, JP Morgan, HSBC Securities and SBI Capital are the consultants to the IPO.
Business
Cement Manufacturer Nuvoco Vistas Gets Sebi Nod For Rs 5,000 Crore initial public offering (IPO)
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