Nuvoco Vistas Share Listing Today: On Monday, Nuvoco Vistas Corporation Limited made a tepid debut on the bourses. Last week, The weak listing was in line with a muted debut of CarTrade Tech Limited share. On BSE, Nuvoco Vistas share is listed a 17.37 percent down to its issue price of Rs. 570, at Rs 471. The share is opened at Rs 485 on NSE down 14.91 percent.
Nuvoco Vistas IPO saw a muted response from the investors. The issue was subscribed 1.71 times when it opened for investors between August 9-11. The reserved portion for qualified institutional buyers was booked 4.23 times. The response from retail investors and non-institutional investors was weak.
Nuvoco Vistas Corporation Limited is the largest one in East India in terms of capacity and it is the fifth-largest cement player. It offers around 50 products across the cement, modern building materials, and RMX.
Motilal Oswal said, “Revenue/EBITDA grew by 10.2 to 12.6 percent in FY21, aided by huge cement demand and acquisition of Emami cement. NVL EBITDA grew at 11% CAGR, supported by margin expansion of 395 bps to 19.5%, over FY18-21. In spite of healthy operational performance, higher interest and depreciation cost has promoted an inconsistent performance. The profitability is expected to improve going ahead with the repayment of debt from the IPO proceeds and synergy benefits from the recent acquisition.”
