Wednesday, 11 August 2021

Leading Cement Company, Nuvoco Vistas’s

 Leading Cement Company, Nuvoco Vistas’s Rs.5,000 Crores IPO to open on August 09, 2021, sets price band of Rs. 560 - Rs. 570 per equity share

 

·       Price Band of Rs. 560 – Rs. 570 per equity share bearing face value of Rs. 10/- each (“Equity Shares”).

·       Aggregate Offer Size up to Rs. 5,000 crores i.e. Fresh Issue of Equity Shares aggregating up to Rs. 1,500 crores and an Offer for Sale aggregating upto Rs. 3,500 crores.

·       Bid/Offer Opening Date – Monday, August 09, 2021 and Bid/Offer Closing Date – Wednesday, August 11, 2021.

·       Minimum Bid Lot is 26 Equity Shares and in multiples of 26 Equity Shares thereafter.

·        The Floor Price is 56 times the face value of the Equity Share and the Cap Price is 57 times the face value of the Equity Share.

 

Nuvoco Vistas Corporation Limited (“Nuvoco Vistas or the “Company”), is the fifth largest cement Company in India and the largest cement company in East India in terms of capacity and one of the leading ready mix concrete manufacturers in India (Source: CRISIL Report). As of March 31, 2021, the Company had 11 Cement Plants with a consolidated installed manufacturing capacity of 22.32 MMTPA.

 

The Company’s leadership team is led by Mr. Hiren Patel, Chairman and Non-Executive Director and Mr. Jayakumar Krishnaswamy, Managing Director.

 

Nuvoco Vistas is proposing to open its initial public offering of Equity Shares (the “Offer”) on Monday, August 09, 2021 and close on Wednesday, August 11, 2021. The price band for the Offer has been determined at Rs. 560 – Rs. 570 per Equity Share.

 

The total Offer size is up to Rs. 5,000 crores with a fresh issuance of Equity Shares, aggregating up to                          Rs. 1,500 crores and an offer for sale of Equity Shares aggregating up to Rs. 3,500 crores, by Niyogi Enterprise Private Limited (the “Promoter Selling Shareholder”).

The Company intends to utilize the proceeds of Rs. 1,350 crores from the fresh issue for repayment/prepayment/redemption, in full or part, of certain borrowings availed of by our Company, besides general corporate purposes.

ICICI Securities Limited, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, JP Morgan India Private Limited and SBI Capital Markets Limited are the book running lead managers to the Offer (“BRLMs”).

The Company and the Promoter Selling Shareholder have, in consultation with the BRLMs, considered participation by Anchor Investors, whose participation shall be one Working Day prior to the bid/offer opening Date, i.e. Friday, August 06, 2021. The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Investors.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Red Herring Prospectus dated July 30, 2021 (“RHP”) filed with the Registrar of Companies, Maharashtra at Mumbai (“RoC”).

Disclaimers: NUVOCO VISTAS CORPORATION LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public issue of Equity Shares and has filed the RHP with the RoC and thereafter with SEBI and the Stock Exchanges. The RHP shall be available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the BRLMs, i.e. ICICI Securities Limited at www.icicisecurities.com, Axis Capital Limited at www.axiscapital.co.in, HSBC Securities and Capital Markets (India) Private Limited at www.business.hsbc.co.in/en-gb/in/generic/ipo-open-offer-and-buyback, J.P. Morgan India Private Limited at www.jpmipl.com and SBI Capital Markets Limited at www.sbicaps.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see "Risk Factors" beginning on page 25 of the RHP. These materials are not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). These materials are not an offer of securities for sale into the United States, Canada or Japan. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

 

DISCLAIMER CLAUSE OF SECURITIES AND EXCHANGE BOARD OF INDIA (“SEBI”): SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Document. The investors are advised to refer to page 420 of the RHP for the full text of the disclaimer clause of SEBI.

 

DISCLAIMER CLAUSE OF BSE (Designated Stock Exchange): It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 423 of the RHP for the full text of the disclaimer clause of the BSE.

 

DISCLAIMER CLAUSE OF NSE: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to page 423 of the RHP for the full text of the disclaimer clause of NSE.

 

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