INSUBCONTINENT EXCLUSIVE:
Nuvoco Vistas has cement plants across Chhattisgarh, Rajasthan, Haryana and West BengalNuvoco Vistas Corporation, the cement arm of the
Nirma Group, has actually submitted its DRHP (draft red herring prospectus) with SEBI for a Rs 5,000 crore initial public offer (IPO)
This is a significant advancement for the cement sector as Burnpur Cement was the last cement listing on the Indian bourses way back in
Nirma was de-listed from the stock market nine years back, although it continues to be a home detergent brand name throughout the
country.Nuvoco Vista' IPO will consist of a fresh concern of shares worth up to Rs 1,500 crore and an offer for sale totaling up to Rs 3,500
crore.The earnings from the share sale will be utilized to pay back debt worth Rs 1,350 crore and for general business purposes.Nuvoco
Vistas has 3 service verticals, viz
cement, ready-mix concrete and modern-day building materials
It has cement plants throughout the states of Chhattisgarh, Rajasthan, Haryana and West Bengal.Ultratech Cement and Shree Cement are amongst
the noted peers of Nuvoco Vistas.ICICI Securities, Axis Capital, JP Morgan, HSBC Securities and SBI Capital are the advisors to the IPO.
