After the Nuvoco Vistas Initial Public Offer (IPO) subscription closed last week, bidders are now waiting for its allotment date, which will most likely take place today.

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Once the share allotment of the IPO is finalised, the status can be checked online at either the BSE website or at the official registrar Link Intime's website. The BSE link to check one's share allotment status is bseindia.com/investors/appli_check.aspx.

Subscribers who want to check application status online at the official registrar Link Intime's website can log in at the link — https://linkintime.co.in.

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The initiation of refund may take place on August 18 while the credit of Nuvoco Vistas shares is likely to take place on August 20.

The initial public offer of cement manufacturer Nuvoco Vistas Corporation was subscribed 1.71 times on the closing day for subscription. The company's IPO received bids for 10,70,27,492 shares against 6,25,00,001 shares on offer, according to data available with the exchanges.

The portion reserved for Qualified Institutional Buyers(QIBs) was subscribed 4.23 times, Non-Institutional Investors (NII) 66 percent and Retail Individual Investors (RIIs) 73 percent. The IPO aggregating up to Rs 5,000 crore had a fresh issue of up to Rs 1,500 crore and an offer for sale of up to Rs 3,500 crore.

The IPO was in a price range of Rs 560-570 per share.

The company is promoted by Dr Karsanbhai K Patel and is associated with the Nirma Group. The Nirma Group forayed into the cement business in 2014 through a greenfield cement plant in Nimbol. Thereafter, as a part of the Nirma Group, it has grown the cement businesses, through acquisitions such as the Indian cement business of LafargeHolcim in 2016 and NU Vista in 2020.

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First Published:Aug 16, 2021 10:45 AM IST