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Nuvoco Vistas shares debut at a 17% discount to the issue price of

One of the leading cement manufacturers of India – Nuvoco Vistas Corporation opened its IPO for subscription last week. The shares were listed on the bourses today…

CapitalVia Research Desk · 1 min read

Published 2021. CapitalVia was a SEBI-registered investment adviser at the time of writing. The company no longer provides advisory services and is not registered with SEBI — it now offers stock-market education only. The article is kept for its educational content.

One of the leading cement manufacturers of India – Nuvoco Vistas Corporation opened its IPO for subscription last week. The shares were listed on the bourses today at a discount price of 17.37 per cent against the issue price of 570 Rs.

The shares opened on the National Stock Exchange at Rs 485 and on the Bombay Stock Exchange at Rs 471. The shares already indicated a decline in the grey market owing to the weak market sentiments in the last week. The listing of CarTrade was also impacted due to the same.

The IPO too got a cold response from investors as the shares were subscribed only 1.71 times, which was mainly driven by Qualified Institutional Buyers.

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