INSUBCONTINENT EXCLUSIVE:
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
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.
