Nuvoco Listing Views: After the faint listing of Car trade Tech, the listing of cement company Nuvoco Vistas Corporation on 23rd August was also disappointing for the investors. Its shares were listed on the domestic stock exchange today at a discount of 17 percent against the IPO price. The company’s shares were listed at a discount of 17.37 per cent i.e. Rs 471 on BSE and Rs 485 i.e. 14.91 per cent discount on NSE against the issue price of Rs 570. However, after this it increased and after the start of trading, within the next 15 minutes, it reached a price of Rs 546 on NSE and Rs 547.15 on BSE.
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The fifth largest cement company in the country and the largest in eastern India
The Rs 5000 crore IPO of Nuvoco Vistas was subscribed 1.71 times. The price band of Rs 560-570 was fixed for this IPO of Rs 1500 crore and it was open for subscription from 9-11 August. Nuvoco Vistas is the fifth largest cement company in the country in terms of capacity and the largest in eastern India. It has 11 cement plants consisting of five integrated units, five grinding units and one blending unit. Talking about domestic competitors, the competitors of Nuvoki Vistas are UltraTech Cement, Shree Cement, Birla Corporation, Dalmia Bharat Cement, Ambuja Cement and Wonder regional companies.
CarTrade Tech also disappointed investors
The shares of online classifieds platform Cartrade Tech were listed on NSE and BSE on August 20. Its shares were listed at a discount of 1.22 percent i.e. Rs 1599 against the IPO price of Rs 1689. Its IPO was oversubscribed nearly 20 times, though the portion reserved for retail investors was oversubscribed by just 2.75 times. The price of Rs 1585-1618 per share was fixed for the Rs 2,999 crore IPO of Cartrade Tech and it was open for subscription from 9-11 August. No new shares have been issued under this IPO and the entire issue was an Offer for Sale (OFS) of 1,85,32,216 equity shares.