Nuvoco Vistas Corporation Ltd IPO Detail and Grey Market Premium and Subscription Details till 9th August

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Nuvoco Vistas Corporation Ltd - Initial Public Offer

Nuvoco Vistas Corporation Ltd IPO

Details of the Nuvoco Vistas Corporation Ltd IPO:

Nuvoco Vistas Corporation Ltd IPO

Important Dates for Nuvoco Vistas Corporation ltd IPO:

Nuvoco Vistas Corporation Ltd IPO

Company Background:

Nuvoco Vistas manufactures cement and are the fifth largest player in India and the largest cement company in East India, in terms of capacity, with a consolidated capacity of 22.32 MMTPA. 
They have 11 Cement Plants, comprising five integrated units, five grinding units and one blending unit.
The company also operates in the RMX business with 49 RMX Plants across India. As of December 31, 2020, the company’s cement production capacity constituted approximately 4.2% of total cement capacity in India, 17% of total cement capacity in East India and 5% of total cement capacity in North India (Source: CRISIL Report)

There are three major products of the company
  1. Cement
  2. Ready-Mix Concrete (RMX)
  3. Modern Building Materials (MBM)
The popular brands owned by NVCL include Concreto and Duraguard.

NVCL was initially a wholly owned subsidiary of Nirma. However, in 2020, 100% of holdings were transferred to Niyogi Enterprise Pvt Ltd, which is currently the promoter company of NVCL. In July 2020, NVCL went on to complete acquisition of Emami’s cement business at an enterprise value of INR 5,500 crore. With this deal, NVCL stood as the largest player in East India with ~17% market share in terms of capacity on a consolidated level and the 5th largest player in India. The acquisition of Emami Cement Limited, now known as NU Vista Limited, was on account of rapid volume growth the company has seen over recent years.

Financial Details of Nuvoco Vistas Corporation Ltd:

Nuvoco Vistas Corporation Ltd IPO

As one can see the borrowings of the company has increased year by year, and this might be the point of concern for the company. And this IPO is also for clearing the borrowings

Purpose of Nuvoco Vistas Corporation Ltd IPO:

  1. To repay/prepay borrowings availed by the firm fully or partially.
  2. General corporate purposes.

Grey Market Premium of Nuvoco Vistas Corporation Ltd IPO

Nuvoco Vistas Corporation Ltd shares are available at a premium of Rs. 20 in the grey market on 9th August 2021. which is 3.5% of its Issue Price (Rs. 570)

Nuvoco Vistas Corporation Ltd IPO Subscription

The Nuvoco Vistas Corporation Ltd IPO is subscribed 0.16 times on 9th Aug 2021
  1. Qualified Institutional Buyers (QIB) - 0.00 times Subscribed
  2. Retail Individual Investors (RII)        - 0.31 times Subscribed
  3. Non Institutional investors (NII)        - 0.01 times Subscribed
Disclaimer : This article is for educational purpose only and does not provide any buy or sell recommendation

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