fbpx

Nuvoco Vistas files papers for INR 5,000Cr IPO

With an Initial Public Offering (IPO) of INR 5,000 crore, Nuvoco Vistas Corp has filed a DRHP with SEBI, the market regulator. The IPO comprises an offer for sale of INR 3500 crore by the promoters, and a fresh issue of INR 1,400-1,500 crore worth of shares. 

Axis Capital, ICICI Securities, HSBC Securities, SBI Capital Markets, and JP Morgan have been appointed as investment bankers for this issue. 

Post this listing, the company is looking at a valuation of INR 35,000 crore, which is the same amount as ACC cement’s present market capitalization. The top three cement companies – UltraTech, Shree Cement, and Ambuja – are currently valued at Rs 1.82 lakh crore, Rs 1 lakh crore, and Rs 61,000 crore, respectively.

Previously known as Lafarge India, Nuvoco Vistas has a strong foothold in the East. As of March 31, 2020, the company had a total borrowing of INR 4,463 crore, so it is planning to deleverage its balance sheet from this IPO offering. 

Nuvoco Vistas has been in the cement industry since 1999 and has emerged as one of the leading players in the country. I’m sure many people will be looking to subscribe to the IPO.

Shishir Gupta, Founder and CEO, StartypLanes

Nirma Group entered the cement business in 2014 through a greenfield investment. It ultimately expanded its business with the acquisition of Larfarge’s India Cement business in 2016. In 2020, the company also acquired Emami Cement. All-in-all the mergers and acquisitions have almost doubled its cement manufacturing capacity and increased its scope.

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For publishing an advertorial article about your company on our website, drop an email at taniya@startuplanes.com

Tags

top