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Tuesday, September 28, 2021

Nuvoco Vistas makes a weak debut in stock markets, lists at over 17% below issue price

Nuvoco Vistas shares listing: The Nuvoco Vistas Corporation scrip got listed at Rs 471.00 apiece on the BSE, thereby registering a fall of 17.37 per cent from its offer price of Rs 570.00.

By: Express Web Desk | New Delhi |
Updated: August 23, 2021 10:28:29 am
Nuvoco Vistas IPO, Nuvoco Vistas IPO price band, Nuvoco Vistas IPO sizeThe initial public offering (IPO) comprises fresh issue of shares worth Rs 1,500 crore and an offer for sale of Rs 3,500 crore by promoter Niyogi Enterprise. (Image: Nuvoco Vistas Corp)

Nuvoco Vistas share price: The shares of cement manufacturer Nuvoco Vistas Corporation made a weak debut on the stock exchanges today listing at over 17 per cent lower than their issue price.

The scrip got listed at Rs 471.00 apiece on the BSE, thereby registering a fall of 17.37 per cent from its offer price of Rs 570.00, while on the National Stock Exchange (NSE), it opened at Rs 485.00, down 14.91 per cent from the issue price.

However, the stock gained from its opening lows and touched an intraday high of Rs 546.80 on NSE and Rs 547.15 on the BSE so far during the first 15 minutes of trade.

At 10:15 am, the scrip was trading at Rs 541.15 on the BSE, down 5.06 per cent from the issue price while on NSE it was at Rs 543.45.

Over 80.78 lakh shares of Nuvoco Vistas Corporation were traded on the NSE during the first 15 minutes of trade, while over 3.98 lakh shares exchanged hands on the BSE, data from the respective stock exchanges showed.

The Rs 5,000 crore IPO of the cement manufacturer, which is a part of the Nirma Group, was subscribed 1.71 times during its offer period from August 9-11.

The company has a consolidated capacity of 22.32 million metric tonnes per annum (MMTPA). It has 11 cement plants comprising five integrated units, five grinding units and one blending unit. It operates cement manufacturing units in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana.

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