Nuvoco Vistas Corporation Limited, India's fifth largest cement company by capacity, received bids of 97,33,126 shares against the offered 6,25,00,001 equity shares, as per the 5:00 pm data available on the bourses.
The portion reserved for retail investors was subscribed 0.30 times and the Non-Institutional Investor category was subscribed 0,01 times, While the Qualified Institutional Buyer didn't see any response on Day one. The Issue was subscribed 0.16 times.
The total Offer size is 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 Company raised Rs. 1,500 crores through the Anchor Book from 40 investors. The Anchor Book was 30% of the total IPO size of Rs. 5,000 crores. The Company had allocated ~2.63 crores equity shares at an upper band of Rs. 570 per equity share on Friday, August 6, 2021 to Anchor Investors.
Marquee domestic investors include SBI MF, SBI Life Insurance, IPru MF, Nippon MF, Axis MF, HDFC Life, Mirae MF, Franklin Templeton MF, Premji Invest, and SBI Pension Fund, amongst others.
Marquee foreign portfolio investors such as APG AM, CI Funds, TT International, Carmignac, and Wells Capital participated significantly (~34%) in the Anchor Book.
ICICI Securities Limited, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, JP Morgan India Private Limited and SBI Capital Markets Limited are the book running lead managers to the Offer.
Nuvoco Vistas Corporation Limited is the fifth largest cement Company in India and the largest cement company 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 manufacturing 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 Concreto, Duraguard and Double Bull.