If money was invested in the shares of Nuvoco Vistas, then the investors had to suffer a big loss. Today the company’s shares are listed at a discount in the stock market.
New Delhi: If you had also invested money in Nuvoco Vistas IPO, then investors have suffered a big loss. Today the company’s shares are listed at a discount in the stock market. On the day of listing, the shares started trading at Rs 417. At the same time, the issue price of the company was Rs 570 per share. Also Read: How much will you have to do every month to build a corpus of Rs 23 crore till retirement
The listing of the company is below 17.37 percent. This is the second such IPO in the upcoming IPO this year, which has been listed at a discount. Earlier, the shares of the car trade were also listed at a discount. Also Read: IRCTC Alert! Cheated in the name of IRCTC, your bank account will be emptied due to one mistake
Let us tell you that the investors did not show much interest in the shares of the company. Even before the company’s weak subscription, it was estimated that the shares could be listed at a discount in the market. At present, the company had issued an IPO of Rs 5000 crore, which was subscribed only 1.71 times. Also Read: Xiaomi to provide financial services through partner in India
Open for subscription on August 9
The issue of the company was opened for subscription on August 9 and closed on August 11. Its price band was Rs 560-570. Its shares were selling in the gray market at Rs 556 with a discount of 2.5 per cent.
Retail investors did not show much interest in it and it was not even 100% filled. Retail investors also bid only 83 per cent. The reserve share for QIB was filled at 4.23 times and for NII was 0.66 times.
Know how is the business of the company?
Let us tell you Nuvoco Vistas is a cement company. It is one of the largest cement companies in the country. If we talk about the performance of the company, then it has seen ups and downs. There is still a lot of debt on the company, but in the coming time, the company’s situation may improve and the shares may also see a rise.
