Cement maker Nuoco Vistas Corporation has raised Rs 1,500 crore from anchor investors ahead of its initial public offering (IPO). Nirma Group’s IPO begins Monday. According to information released on the BSE website on Friday, the company has decided to issue 2.63 crore equity shares at Rs 570 per share to anchor investors.
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HDFC Life Insurance Company, SBI Life Insurance Company, SBI Mutual Fund, Axis MF, Mirai MF, Franklin Templeton MF, Premji Invest and SBI Pension Fund have acquired the company’s shares as anchor investors. In addition, several foreign investors – APG AM, CI Funds, TT International, Carmignac and Wells Capital – were also present.
1,500 crore worth of new shares will be issued under the IPO of the company. Apart from this, the pioneer deputy enterprise will come up with a sales offer of Rs 3,500 crore. The price range for an IPO is Rs 560-570 per share. The IPO opens on August 9 and closes on August 11.
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