Nuvoco Vistas Corporation Ltd has raised Rs 1,500 crore from anchor investors ahead of the IPO, which opens on Monday. The issue consists of a fresh issue of Rs 1,500 crore and an offer for sale of Rs 3,500 crore. The issue will open for subscription on Monday and close on Wednesday. Investors can bid at a price band of Rs. 560-570 a share in a lot size of 26 equity shares.
Over 40 investors have participated in the anchor book including marquee foreign portfolio investors and domestic investors. The company has allocated nearly 2.63 crores equity shares at an upper band of Rs 570 a share on Friday to anchor investors.
Among the domestic investors included SBI MF, SBI Life Insurance, IPru MF, Nippon MF, Axis MF, HDFC Life, Mirae MF, Franklin Templeton MF, Premji Invest and SBI Pension Fund. Foreign portfolio investors such as APG AM, CI Funds, TT International, Carmignac and Wells Capital among othres have participated in the anchor book.
Nuvoco Vistas Corporation is one of the largest cement companies in India. As of March 2021, the company had 11 cement plants with a consolidated installed manufacturing capacity of 22.32 mtpa. The company has a dedicated Construction Development and Innovation Centre 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.
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.