Nirma group company, Nuvoco Vistas Corporation’s initial public offering starts today. The issue includes of a fresh issue of Rs 1,500 crore and an offer-for-sale of Rs 3,500 crore. The issue would close on Wednesday. Investors can bid in a price band of Rs. 560-570 a share in a lot size of 26 equity shares.
Nuvoco Vistas Corporation Ltd had increased Rs 1,500 crore from anchor investors ahead of the IPO. Over 40 investors have participated in the anchor book, consisting marquee foreign portfolio investors and indigenous investors. The firm allocated almost 2.63 crores equity shares in the upper band of Rs 570 a share on Friday to anchor investors.
The indigenous investors included SBI MF, SBI Life Insurance, IPru MF, Nippon MF, Axis MF, HDFC Life, Mirae MF, Franklin Templeton MF, Premji Invest and SBI Pension Fund. Foreign portfolio investors including APG AM, CI Funds, TT International, Carmignac and Wells Capital, among others, have participated in the anchor book.
CarTrade price band
CarTrade is the latest one in the long queue of tech startups tapping the public market with initial public offerings (IPO). The IPO of CarTrade Tech, at a price band at Rs 1,585-1,618 a share, opens for subscription today and closes on August 11. Investors can submit for a minimum of nine equity shares and in multiple of nine equity shares thereafter.
The public issue of 1.85 crore shares is a entire offer-for-sale by existing selling shareholders. The
offer size comes to Rs 2,998.51 crore. Investor CMDB II would sell 22,64,334 equity shares through IPO, Highdell Investment 84,09,364 equity shares, MacRitchie Investments 50,76,761 equity shares, and Springfield Venture International 17,65,309 equity shares.
CarTrade Tech has raised Rs 900 crore from anchor investors ahead of its initial public offering on Friday.
Amid the anchor investors are Nomura, HSBC Global, Goldman Sachs, Jupiter India Fund, Elara India Opportunities Fund, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, Bharti Axa Life Insurance Company, Axis Mutual Fund (MF), HDFC MF, Kotak MF and Sundaram MF.
CarTrade is a multi-channel auto platform with coverage and presence across vehicle types and value-added services. Its platforms operate under several brands - CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz.
Nuvoco Vistas Corporation is one of the largest cement firms in India. As of March 2021, the firm had 11 cement plants with a consolidated installed manufacturing capacity of 22.32 mtpa. The firm has a dedicated Construction Development and Innovation Centre located in Mumbai. This NABL-accredited facility serves as the incubation centre for innovative products across the cement, ready mix concrete and modern building materials businesses.
ICICI Securities Ltd, Axis Capital Ltd, HSBC Securities and Capital Markets (India), JP Morgan India and SBI Capital Markets Ltd are the book-running lead managers to the proffer.
Rolex Rings listing
Rolex Rings: The firm would list its equity shares on the bourses on August 9. The initial public offering of auto components maker Rolex Rings was subscribed 130.43 times. The bid came in a price range of Rs 880-900 per share. The category reserved for qualified institutional buyers (QIBs) was subscribed 143.58 times, while those for non-institutional investors was subscribed 360 times and retail individual investors (RIIs) 24.49 times.
The IPO embraces a fresh issue of up to Rs 56 crore and an offer for sale of up to 75 lakh equity shares.
Ahead of the issue, the firm on Tuesday garnered a little over Rs 219 crore from anchor investors.