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Thursday, October 21, 2021

After 14 years, this cement company is bringing IPO of Rs 5000 crores, you have a great opportunity to earn

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Famous detergent company Nirma is going to bring an IPO of its cement unit Nuvoko Vistas Corporation. For this, the company has presented the draft with SEBI.

Cement company IPO will be launched

Famous detergent company Nirma is about to launch an IPO of its cement unit Nuvoco Vistas Corp. Ltd soon. In this connection, the company presented a draft draft to SEBI on Thursday. The company will raise Rs 5000 crore through this. This is the first time in 14 years that a cement company will be listed in an IPO. The last time the Buranpur Cement Company was listed in the IPO in the year 2007. In the same year, two more cement companies Binani and Barak Valley were also listed.

The valuation of the Nuvoco Vistaas company is currently at 40 thousand crore rupees. Since the IPO of a cement company is coming after a long time, it can get better response. According to experts, Nirma can benefit because of being a unit of the company. In such a situation, investors can earn good money by investing in it. According to DRHP, it will raise Rs 1,500 crore as primary component, while it will raise Rs 3,500 crore as secondary component.

Nuvoco has a capacity of 2 million tonnes

Nuvoco has an annual capacity of 2 million tonnes. According to the company report for the financial year 2019-20, it has 7 cement plants and 60 ready mix concrete plants. Its business is more in eastern and northern India. Karen Bhai Patel’s son Hiren Patel is currently the chairman of Nuvoco. Nuvoco’s revenue in 2019-20 is Rs 6,793 crore.

Delist was done 9 years ago

Nirma Group was started by industrialist Karsanbhai Patel. It was a famous brand of its time. But it was delisted in 2012 on the stock exchange. Now after about 14 years Nirma will launch its cement unit IPO on the stock exchange. The IP is expected to arrive by the end of June or July.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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