Nuvoco Vistas Corporation has made a weak debut on the bourses today i.e. August 23. The cement maker's shares opened at Rs 471, a discount of 17.37 per cent compared to the issue price of Rs 570, on the BSE. On the NSE, the shares opened at a discount of 15 per cent at Rs 485. At 10:55 am, Nuvoco Vistas Corporation shares had trimmed their losses and were trading at Rs 537.80 , lower by 5.74 per cent on the BSE and at Rs 537.15, down 5.6 per cent, on the NSE. Here's how to check allotment status of Nuvoco Vistas Corporation (https://www.ndtv.com/business/nuvoco-vistas-initial-public-offering-ipo-heres-how-to-check-share-allotment-status-2513837)
Nuvoco Vistas Corporation's Rs 5,000 crore initial public offering had witnessed a tepid response from investors; the issue was subscribed a mere 1.71 times, receiving bids for 10.7 crore shares as against the IPO size of 6.25 crore shares.
The portion set aside for QIBs was subscribed 4.23 times, but the non-institutional investors and retail investors' segment remained undersubscribed at 66 per cent and 73 per cent respectively.
Nuvoco Vistas Corporation is the 5th largest cement company in India and the largest in the eastern part of India, in terms of capacity.