Nirma Group backed, Nuvoco Vistas list on BSE and NSE
Chennai, August 23, 2021: Nuvoco Vistas Corporation Limited, India’s fifth largest cement company by capacity; listed on BSE at Rs. 471 at 17.36% discount over its issue price. The scrip got listed at NSE at Rs. 485 per share, a 14.91 % per cent discount over its issue price of Rs 570. The shares of the company at day end closed at Rs. 531.30 per share on BSE and Rs. 529 per share on NSE.
The initial public offering was offered at a lower price band of Rs 560 per share and higher price band of Rs 570.
As per BSE, the total quantity traded stood at 8.12 lac shares with a delivery quantity percentage of 20.36%. Quantity traded and delivery percentage at NSE was approx. 2.20 crore shares and 52.01 % respectively. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1210.38 crore.
The Market Capitalization of the Company post today’s closing price stood at Rs. 18,976 crores as per BSE and Rs. 18,893.56 crores as per NSE.
The total Offer size was 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 Selling Shareholder. The por tion reserved for retail investors was subscribed 0.73 times. While the Qualified Institutional Buyer category was subscribed 4.23 times, the Non-Institutional Investor category was subscribed 0.66 times and overall Issue was subscribed 1.71 times.
In comparison to other major cement producing countries, India exhibits the lowest per capita cement consu mption at 200-250 kg, which is nearly half of world average of 500-550 kg. China has the highest per capita cem ent consumption of 1650-1750 kg, followed by Korea at 900-950 kg. However, despite a low per capita cement consumption, India is the second largest cement consumer in the world behind China. Crisil Research expects cement demand to register a CAGR of 6-7% in FY21-26, driven by a raft of infrastructure investments and hea lthy revival in housing demand.
Company Information
Nuvoco Vistas Corporation Limited is the fifth largest cement Company in India and the largest cement comp any 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 manu facturing capacity of 22.32 MMTPA. The Company has a dedicated Construction Development and Innovation Centre (“CDIC”) located in Mumbai. This NABL-accredited facility serves as the incubation centre for innovative products across the cement, ready mix concrete and modern building materials businesses. The consolidated entity of Nuvoco Vistas Corporation Limited has well recognised cement brands in the market, namely Conc reto, Duraguard and Double Bull.
