CNBC-TV18 reported in early March that Nuvoco Vistas, the cement arm of popular detergent company Nirma, will be coming up with an initial public offering (IPO) this year. There has been a fair bit of interest when it comes to this particular IPO. According to sources, the company is likely to file a draft red herring prospectus (DRHP) for the IPO this week.
It’s going to be a large issue as the company is likely to raise nearly Rs 5,000 crore and through an offer of about 15 percent equity in the market.
The offer could be a combination of an offer for sale (OFS) as well as a fresh issue. The company could raise Rs 1,500 crore via a fresh issuance from its IPO and about Rs 3,500 crore through OFS.
Watch the accompanying video for more details.