Originally incorporated as Infra Cement India Pvt Ltd thereafter name changed to Lafarge India Pvt Ltd, Nuvoco Vistas Corporation Ltd, a building materials major has filed for a Rs 5,000 cr IPO with the market regulator which includes a fresh issue of equity shares aggregating upto Rs. 1500 crs and an Offer for Sale aggregating upto Rs 3500 crs by the Promoter Selling Shareholder.
As stated in the DRHP, out of the net proceeds the company looks to deleverage its balance sheet by paring off Rs 1350 cr of certain borrowings availed by the company besides general corporate purposes.
Nuvoco Vistas, in terms of its manufacturing capacity stands to be the 5th Largest Cement Company in India and the largest cement company in East India. It also is one of the leading ready mix concrete manufacturers in India and has grown from being a cement focused entity to now a building materials company offering more than 50 products across Cement, Ready Mix Concrete and Modern Building Materials sold under well-established brand names such as Concreto, Duraguard, Double Bull, ZeroM and Instamix".
As of December 31, 2020 its 11 Integrated/Blending units across East and North India had an installed cement manufacturing capacity of 22.32 MMTPA. Additional expansion of 1.5 & 1.2 MMTPA is underway at its Jojobera and Bhabua Cement Plant. Post-acquisition of Nu Vista and merger of the Nimbol Cement Plant, the companies installed capacity in percentage terms doubled over the last 5 years to make it the fastest growing cement company in terms of capacity addition.
Between FY18-20, the companies EBITA and PAT for the year grew at CAGR of 9% and 68.7% respectively.
Investment Bankers appointed to the issue are ICICI Securities Ltd, Axis Capital Limited, HSBC Securities and Capital Markets (India) Pvt Ltd, JP Morgan India Pvt Ltd and SBI Capital Markets Ltd