List of shares of Nuvoco Vistas with a sharp discount to exit the price: Nuvoco Vistas IPO (first public offering) registered 1.71 times on the closing date of registration
Shares of Nuvoco Vistas Corporation got off to a bad start in the Indian stock market on Monday. Stock listed at ₹ 485 per share on the National Stock Exchange (NSE), a 15% discount off the price of 70 570 per share.
The cement manufacturer, which is part of the Nirma Group, presented its first three-day (IPO) contribution on August 9 which ended on August 11 at a price of 60 560-570 per share. The company’s initial stock exchange is registered 1.71 times on the closing date of bidding. The share of Qualified Institutional Buyers (QIBs) is 4.23 times registered, 66% of non-institutional investors and Retail Individual Investors (RIIs) 73 percent. The first public offering covering up to ₹ 5,000 crore contained a new advertisement of up to 500 1,500 crore and a sales pledge of up to ₹ 3,500 crore.
Nuvoco Vistas is a producer with a combined strength of 22.32 million tons per annum (MMTPA). It has 11 cement plants with five composite units, five grinding units, and one mixing unit. It operates in cement production units in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana.
NVCL plants are found in a variety of strategic areas in eastern and northern India. They have three combined units and five grinding units in East India, and two combined units and one mixing unit in North India. These areas allow them to successfully market their products in East and North India as well as access to the selection of major markets in Central India. They are also in the process of upgrading their existing cement capacity at their existing Jojobera Cement Plant and Babua Cement Plant in East India. Linking materials with their customers allows them to produce and sell their cement products at an affordable cost, ” ICICI Direct said in an IPO statement.