Nuvoco Vistas Corp. Ltd, a Nirma Group cement company, filed a draft red herring prospectus (DRHP) with SEBI to raise Rs 5,000 crore through an IPO. Rs 1,500 crore of the IPO will be a fresh issue which will be used to repay full or parts of the company’s borrowings, while Rs 3,500 crore will be an offer for sale by Niyogi Enterprises Pvt Ltd who hold an 86.56 per cent stake in the company. Nuvco Vistas witnessed lower revenue and higher loss in 2020 as compared to the previous year period. As of December 2020, the company’s total installed capacity stands at 22.32 mtpa.
Contact: Nuvoco Vistas Corp.
Tel: 022-6769 2500.
E-mail: investor.relations@nuvoco.in
Website: www.nuvoco.in