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26 Aug, 2025 12:21

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Choice Equity Broking IPO report on Nuvoco Vistas Corporation

Nirma Group’s cement company Nuvoco Vistas Corporation Ltd. (NVCL), is coming up with an IPO to raise Rs. 5,000cr, which opens on 9th Aug. and closes on 11th Aug. 2021. The price band is Rs. 560 - 570 per share. The issue is a combination of fresh and OFS. The company will not receive any proceeds from the OFS portion. Of the net proceeds from the fresh issue, Rs. 1,350cr will be utilized for the repayment/prepayment of certain borrowings. Rest proceeds will be used for general corporate purposes.

Valuation and Outlook

NVCL with its presence in high growth East & Central India and key focus on the trade segment, is likely to benefit from the growth in the sector. Thus considering the above observations, we assign a “Subscribe for Long Term” rating for the issue.

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