Today 9th August – Nuvoco Vistas Corporation – IPO Details

About Company:

Incorporated in 1999, Nuvoco Vista Corporation Ltd, a part of Nirma Group Company is among one of the largest cement companies and concrete manufacturers in India. It offers a diversified range of products such as cement, Ready-mix Concrete (RMX), and modern building materials i.e. adhesives, wall putty, dry plaster, cover blocks, and more. The company sells its products in the trade segment (individual home buyers) and non-trade segment (institutional and bulk buyers). It has a strong distribution network with 15,969 dealers and 225 CFAs. Its cement plants are located in the states of West Bengal, Bihar, Odisha, Chhattisgarh, and Jharkhand in East India and Rajasthan and Haryana in North India with an aggregated installed capacity of 22.32 MMTPA.

Issue Details
• Issue Opens on 9th August & Closes on 11th August

• Object of the issue : To repay/prepay/redeem borrowings availed by the firm fully or partially.

• Issue Size : Fresh Issue Rs. 1500 Cr., OFS Rs. 3500 Cr., Total Issue Size : Rs. 5000 Cr.

• Offer Price : Rs. 560 to 570 (F. V. Rs. 10)

• Listing on BSE and NSE Platform

• BRLM : Axis Capital , HSBC Securities, ICICI Sec., J.P. Morgan, SBI Capital, • Registrar : Link Intime (I) Pvt.
Ltd.

• Company Management : Niyogi Enterprises Pvt Ltd and Dr. Karsanbhai K Patel are the company promoters.

• Pre Issue Promoter Holding : 95.24 % • Post Issue Promoter Holding : 71.03%

• Issue constitutes 24.56% of the post issue paid up capital

• Average of last 3 Yrs. EPS Rs. 2.83 & RONW : 1.31%

• Pre IPO Equity Capital Rs. 330.84 Cr. • Post IPO Equity Capital Rs. : 357.16 Cr.

• Pre IPO : P/BV Ratio : 2.45 (NAV : 232.43) (31-3-2021)

• Post Issue : P/BV Ratio : 2.31 (NAV : 247.05)

• Post IPO asking P/E on fully diluted equity : 201 (For last 3 years average EPS)

 

The author, CA Jayprakash Pandey is a practicing Chartered Accountant (Founder of Jayprakash P & Company) having Office at Mumbai, with more than 5 years of professional cum practical experience, Direct Tax, International Taxation, Indirect Tax & FEMA related advisory, litigation & compliance matters.