<ul><li>Shares of Nuvoco Vistas Corp listed at ₹471 while the price band was fixed at ₹560-570 per share.</li><li>The IPO was subscribed just 1.71 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹16,822.05 crore.</li></ul>Shares of cement manufacturer Nuvoco Vistas Corp made a weak listing on the National Stock Exchange (NSE) and BSE as the stock listed at 17.37% discount on the issue price band of ₹560-570 apiece. Investors had expected a negative listing after the CarTrade Tech IPO had also opened at discount last week because of weak momentum in the market led by global cues. Post listing, the market capitalisation of the company stood at ₹16,822.05 crore, according to BSE data. The shares of Nuvoco Vistas Corp were trading at ₹510, lower by 10.53% at 10.00 a.m., on August 23. The grey market had hinted at a negative listing as unlisted shares of Nuvoco Vistas were commanding a marginal premium of ₹5-6 per share over the issue price of ₹570 apiece. The IPO ⁠— open between August 9 and August 11 ⁠— received tepid response from investors. It was subscribed 1.71 times on the last day of the bidding. Nuvoco, which is one of the largest cement players in east India, is a subsidiary of the Nirma Group, famous for its eponymous detergent brand. It is also one of the leading ready mix concrete manufacturers in India and has grown from being a cement focused entity to now a building materials company offering more than 50 products across cement, ready mix concrete and modern building materials sold under well-established brand names such as Concreto, Duraguard, Double Bull, ZeroM and Instamix. Analysts had recommended subscribing to the IPO issue as they are bullish on the overall cement industry. Adding to it is the fact that the company holds a dominant position in east India with 17% market share in terms of capacity. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/types-of-mutual-funds-for-investors/articleshow/85552684.cms">Looking to invest in mutual funds? Here are the different schemes you should know of</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/finance-ministry-summons-infosys-ceo-over-glitches-in-it-e-filing-portal/articleshow/85533986.cms">Finance Ministry summons Infosys CEO over glitches in IT e-filing portal</a>

Nuvoco Vistas Corp makes a weak stock market debut; lists at 17% discount on exchanges

<ul><li>Nuvoco Vistas is looking to raise ₹5,000 crore through a fresh issue of shares worth ₹1,500 crore and an offer for sale by promoters worth ₹3,500 crore.</li><li>With the net proceeds the company looks to repay borrowings worth ₹1,350 crore.</li><li>In terms of manufacturing capacity, it is the fifth largest cement company in India and the largest cement company in east India. </li></ul>Nuvoco Vistas Corporation, a Nirma Group company, has received the regulator’s nod for issuing an initial public offering (<keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword>). The company is looking to raise ₹5,000 crore through IPO, as per the draft red herring prospectus (DRHP) filed by the company on May 9, 2021. The IPO comprises a fresh issuance of shares worth ₹1,500 crore and an offer for sale worth ₹ 3,500 crore by the promoter. In terms of its manufacturing capacity, Nuvoco Vistas -- formerly known as Lafarge India Limited -- is the fifth largest cement company in India and the largest cement company in east India, as per the DRHP filings. It also is one of the leading ready mix concrete manufacturers in India and has grown from being a cement focused entity to now a building materials company offering more than 50 products across cement, ready mix concrete and modern building materials sold under well-established brand names such as Concreto, Duraguard, Double Bull, ZeroM and Instamix. With the net proceeds the company looks to repay some of its borrowings worth ₹1,350 crore. The company believes that the central government’s focus on roads, railways, urban infrastructure and irrigation will boost infrastructure investments. The share of cement demand of the infrastructure segment is expected to increase from 23% to 25% in FY21 to 25% to 27% in FY26, as per DRHP filing. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY18 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹6,793 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹7,052 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹6,855 crore </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Profit/Loss </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹249 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ (26 crore) </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹87 crore </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Net worth </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹5,279 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹4,988 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 4,823 crore </td></tr></tbody></table> The company has five integrated plants, five grinding units and one blending unit across north and east locations. However, the company sells in west and central regions as well due to close proximity of these plants with the regions. The company has a pan India market share of 4.2%, whereas it is more dominant in the eastern region with a market share of close to 17%, in terms of capacity on a consolidated basis as of December 2020. In north India, it has 5% market share in terms of capacity, according to DRHP filings. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/pizza-hut-kfc-costa-coffee-operator-devyani-international-is-coming-with-new-ipo-in-india/articleshow/84575084.cms">Pizza Hut, KFC, Costa Coffee operator Devyani International to raise an estimated ₹1,400 crore through IPO </a> <a href="https://www.businessinsider.in/business/news/india-has-added-36191-new-companies-between-april-to-june-this-year/articleshow/84575166.cms">India has added 36,191 new companies between April to June this year </a>

Cement manufacturer Nuvoco Vistas Corp to raise ₹5,000 crore through IPO

Grey market premium – what is it and where is it coming from

IPOs in FY23 have been fewer but many have fared better than the previous year

<ul><li>Benchmark index <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> crossed the 62,000 points mark for the first time since December last year. </li><li>Tata Motors, L&amp;T, Asian Paints were amongst the top gainers in morning trade on Tuesday. </li><li>Overall, financial services, auto and FMCG stocks, helped Sensex begin FY24 on a positive note with gains of 3.52% in the last one month. </li><li>Robust buying by foreign institutional investors (FII) in April and May till date have also aided the rally in Sensex and <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>. </li></ul>India’s benchmark index Sensex crossed the 62,000 points mark for the first time since December last year, led by gains in Tata Motors, L&amp;T and Asian Paints, among others. Overall, financial services, auto and FMCG stocks, helped Sensex begin FY24 on a positive note with gains of 3.52% in the last one month. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.90% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.29% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.78% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.25% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.54% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.78% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.34% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.38% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.21% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.29% </td></tr></tbody></table> Source: BSE, as on May 9, 2023 Amongst the top gainers in the last one month are Bajaj Finance, Nestle India, Kotak Mahindra Bank, Tata Motors and ITC, with 1 month returns ranging between 11% to 15%. Robust buying by foreign institutional investors (FII) in April and May till date have aided the rally in Sensex and Nifty. While FIIs bought equities worth ₹5,712 crore in April, their buying in May stands at ₹7,652 crore till date. “There are three prominent factors which are driving the ongoing rally in the market: One, better-than-expected strength of the US economy and the increasing confidence that the US will succeed in avoiding a bad recession. Two, strong buying by FIIs who have been continuous buyers during the last eight trading days. Three, fundamental support to the rally from macro indicators such as robust GST collections, improving PMI, high fuel consumption and good credit growth,” said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. However, the current rally might not last for long, according to analysts. “These positives along with a rising rupee can sustain the rally and take the market higher. But the valuation comfort which was there at the beginning of this rally a month ago is no longer there. This can cap the upside to the market even though the momentum is currently with the bulls,” Vijayakumar added. Gold prices edged up to ₹60,900 per 10 grams while silver stood at ₹77,100 per kilogram. Crude oil prices gained as well, with Brent crude prices hovering at $76.8 per barrel. <cmsannotation type="cmsannotation" annotationid="Global cues mixed" comment="subhead" text="Global cues mixed">Global cues mixed</cmsannotation> Cues in global markets were mixed, with investors focusing on the US banking sector. While Dow Jones closed 0.17% lower, S&amp;P 500 ended on a flat note. The tech-heavy Nasdaq, on the other hand, gained 0.18%. Asian markets were also similarly mixed, with Taiwan Weighted remaining flat. Nikkei 225 was up 0.77%, while Shanghai Composite gained 0.36%. On the other hand, Hang Seng was down 0.4% while KOSPI fell 0.5%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="146847" type="General" weightage="20" keywordseo="mankind-pharma" source="Orion">Mankind Pharma</keyword>: Shares of the condom maker’s ₹4,362 crore IPO will debut on exchanges today. The grey market premium of the company’s stock stood at ₹100 indicating a strong listing gain. <keyword id="6358032" type="General" weightage="80" keywordseo="spicejet" source="Orion">SpiceJet</keyword>: The low cost carrier has received a notice from the National Company Law Tribunal (NCLT) as the Ireland based company Aircastle is looking to begin insolvency proceedings against it. PNB Housing Finance: Punjab National Bank has infused ₹498 crore in the rights issue of PNB Housing Finance. <keyword id="333824" type="General" weightage="80" keywordseo="upl" source="Orion">UPL</keyword>: Agriculture solutions provider UPL reported 42% decline in net profit at ₹792 crore for March quarter from ₹1,379 crore last year. Meanwhile, revenue grew 4% to ₹16,569 crore from ₹15,861 crore last year. Kansai Nerolac: The company’s board has approved bonus issue in the ratio 1:2. With this, the authorised share capital will increase from ₹66.5 crore to ₹85 crore. Earnings today: Lupin, Nazara Technologies, Reliance Infrastructure, Matrimony.com, Apollo Tyres, Birla Corporation, Castrol India, Chalet Hotels, Nuvoco Vistas Corporation, Eveready Industries India, Godrej Agrovet, SRF and Westlife Foodworld among companies to release their March quarter earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/fy23-scorecard-tvs-motor-fares-better-than-bajaj-auto-hero-motocorp-on-profits-and-margins/articleshow/100082560.cms">FY23 Scorecard: TVS Motor fares better than Bajaj Auto, Hero MotoCorp on profits and margins</a> <a href="https://www.businessinsider.in/stock-market/news/rail-vikas-nigam-marks-a-strong-journey-in-2023-share-price-of-68-to-140/slidelist/100069014.cms">From ₹68 to ₹140, this multibagger stock marks a strong journey in 2023</a>

You Searched For "nuvoco vistas corp ipo premium" and got 5 results

Nuvoco Vistas Corp makes a weak stock market debut; lists at 17% discount on exchanges

Bhakti Makwana

Cement manufacturer Nuvoco Vistas Corp to raise ₹5,000 crore through IPO

Bhakti Makwana

Grey market premium – what is it and where is it coming from

Rounak Jain

IPOs in FY23 have been fewer but many have fared better than the previous year

Rounak Jain

Sensex crosses 62,000 mark for the first time since December; Tata Motors, L&T amongst top gainers

Bhakti

Rounak