Nuvoco Vistas IPO opens tomorrow, August 9: Check cement maker's issue price, GMP & more

Nuvoco Vistas Corporation IPO (Initial Public Offering) is all set to open for subscription on August 9, 2021. Nuvoco Vistas IPO will remain open for bidding till August 11. The cement maker joins other Indian companies, such as Zomato, in raising funds during the superior year for debut on bourses. According to the company, the funds generated from the fresh issues will be used for general corporate purposes and the repayment of certain loans. Here are few things you should know, including Nuvoco Vistas GMP, before subscribing to the issue.

Nuvoco Vistas Corporation IPO: Key points

• Nuvoco Vistas Corporation IPO opening date: The public issue will open on Monday, August 9 and will be available for subscription till August 11, 2021.
• Nuvoco Vistas IPO size: The cement maker plans to raise Rs 5,000 crore from the IPO, of which, Rs 1500 will be free issuance and Rs 3,500 crore OFS (Offer for Sale) by promoter Niyogi Enterprise.
• IPO Price band and lot size: The price band has been set up at Rs 560-570 per share. A single lot comprises 26 shares and a bidder can apply for a maximum of 13 lots.
• Nuvoco Vistas GMP: In the grey market, Nuvoco Vistas Corporation shares are flying high with a premium of Rs 40, which suggested a listing premium of around 7%.
• Nuvoco Vistas IPO allotment date: The share allotment is likely to take place on August 17, 2021.

Last week, the cement manufacturer, part of the Nirma Group, raised Rs 1,500 crore from anchor investors. Nuvoco Vistas decided to allocate 2.63 crore equity to its anchor investors at Rs 570 apiece, aggregating Rs 1,500 crore transaction, as per the circular uploaded on the BSE website. 

About Nuvoco Vistas Corporation

Nuvoco is one of the largest cement manufacturers in India with a consolidated capacity of 22.32 million metric tonnes per annum (MMTPA). The company holds 11 cement manufacturing plants across states of Jharkhand, Chhattisgarh, West Bengal, Haryana and Rajasthan. In February last year, Nuvoco Vistas, formerly Lafarge India Limited, announced that it will acquire the cement business of Emami for an enterprise value of Rs 5,500 crore. The deal was approved by the Competition Commission of India in May 2020.