Nuvoco Vistas Corp IPO – Investment Rationale, Key Risks: ICICI Direct

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Incorporated in 1999, Nuvoco Vista Corporation Ltd., a part of Nirma Group Company, is the fifth largest cement company in India and the largest cement company in East India in terms of capacity.

As of December 31, 2020, their cement production capacity constituted ~4.2% of total cement capacity in India, 17% of total cement capacity in East India and 5% of total cement capacity in North India.

It is also one of the leading ready-mix concrete manufacturers with 49 RMC plants across India.

Nuvoco Vista forayed into the cement business in 2014 through a greenfield cement plant in Nimbol. Thereafter, it has grown through acquisitions such as the acquisition of the Indian cement business of LafargeHolcim in 2016 and in 2020 by acquiring NU Vista (Emami).

Click on the attachment to read the full IPO report:

ICICI Direct Nuvoco IPO Review.pdf


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