Nuvoco Vistas has cement crops throughout Chhattisgarh, Rajasthan, Haryana and West Bengal
Nuvoco Vistas Corporation, the cement arm of the Nirma Group, has filed its DRHP (draft crimson herring prospectus) with SEBI for a Rs 5,000 crore preliminary public provide (IPO). This is a big improvement for the cement sector as Burnpur Cement was the final cement itemizing on the Indian bourses means again in November 2007.
Nirma was de-listed from the inventory exchanges 9 years in the past, though it continues to be a family detergent model throughout the nation.
Nuvoco Vista’Â IPO will encompass a contemporary difficulty of shares price as much as Rs 1,500 crore and a suggestion on the market amounting to Rs 3,500 crore.
The proceeds from the share sale will likely be used to repay debt price Rs 1,350 crore and for basic company functions.
Nuvoco Vistas has three enterprise verticals, viz. cement, ready-mix concrete and fashionable constructing supplies. It has cement crops throughout the states of Chhattisgarh, Rajasthan, Haryana and West Bengal.
Ultratech Cement and Shree Cement are among the many listed friends of Nuvoco Vistas.
ICICI Securities, Axis Capital, JP Morgan, HSBC Securities and SBI Capital are the advisors to the IPO.
