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IPO

Cement maker Nuvoco Vistas raises Rs.1,500-Cr from anchor investors

MoneyControl  

Cement major Nuvoco Vistas Corporation has raised INR 1,500 crore from anchor investors ahead of the opening of its initial public offering (IPO). The company finalised the allocation of 2,63,15,788 equity shares to anchor investors, at INR 570 each. . Stichting Depositary APG Emerging Markets Equity Pool, Carmignac Portfolio, Signature Emerging Markets Fund, Emerging Markets Equity Pool, Mirae Asset, AB ARYA Partners Fund, Best Investment Corporation Principal Trustee, Societe Generale, Torq Asia, Morgan Stanley Asia, CLSA, Copthall Mauritius, Segantii India and Elara India Opportunities Fund were among investors who participated in the anchor book. Domestic investors such as SBI Mutual Fund, ICICI Prudential, Franklin India Pharma Fund, Nippon Life, Axis Mutual Fund, IDFC Mutual Fund, Tata Mutual Fund, Edelweiss, BNP Paribas, Baroda Mutual Fund, Max Life Insurance, and HDFC Life also invested in the company. Nuvoco Vistas plans to raise INR 5,000 crore through its IPO that comprises a fresh issue of INR 1,500 crore and an offer for sale of INR 3,500 crore by promoter Niyogi Enterprise. The net proceeds from the fresh issue will be utilised for repayment of debts of about INR 1,350 crore. The price band for the offer has been fixed at INR 560-570 per equity share.