New Delhi: Nuvoco Vistas Corporation, part of the Nirma Group, and online auto classified platform CarTrade Tech are launching their initial share-sales on Monday. The three-day initial share-sale will open for public subscription on August 9 and conclude on August 11.
Founded in 2009, CarTrade is backed by marquee investors — Warburg Pincus, Temasek, JPMorgan and March Capital.The CarTrade platform allows customers to buy and sell used cars as well as new cars. Nuvoco Vistas is a cement manufacturer with a consolidated capacity of 22.32 MMTPA. It has 11 cement plants comprising five integrated units, five grinding units and one blending unit. It operates cement manufacturing units in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana.
Here is all you need to know about CarTrade Tech and Nuvoco Vistas IPO
CarTrade Tech IPO
The Online auto classified platform on Friday raised Rs 900 crore from anchor investors ahead of its initial public offering.
The company has decided to allocate 55,59,664 equity shares to anchor investors at Rs 1,618 apiece, valuing the transaction size to Rs 899.55 crore.
Nomura, HSBC Global, Goldman Sachs, Jupiter India Fund, Elara India Opportunities Fund, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, Bharti Axa Life Insurance Company, Axis Mutual Fund (MF), HDFC MF, Kotak MF and Sundaram MF are among the anchor investors.
The initial share-sale will be entirely an offer for sale (OFS) of 18,532,216 equity shares.
Among the investors participating in the OFS are — CMDB II (22.64 lakh equity shares), Highdell Investment Ltd (84.09 lakh shares), Macritchie Investments Pte Ltd (50.76 lakh shares), and Springfield Venture International (17.65 lakh shares).
Currently, CMDB II holds 11.93 per cent stake in CarTrade, Highdell Investment owns 34.44 per cent stake, MacRitche Investment has 26.48 per cent shareholding, and Springfield Venture International holds 7.09 per cent stake in the company.
The public issue, with a price band of Rs 1,585-1,618 a share concludes on August 11.
At the upper end of the price band, the IPO is expected to mobilise Rs 2,998.51 crore.
Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Axis Capital, Citigroup Global Markets India, Kotak Mahindra Capital Company and Nomura Financial Advisory and Securities (India) Private Limited are the investment bankers to the issue.
Nuvoco Vistas IPO
The initial public offering (IPO) comprises fresh issue of shares worth Rs 1,500 crore and an offer for sale of Rs 3,500 crore by promoter Niyogi Enterprise.
Proceeds of the fresh issue will be used to repayment of certain loans availed the company and general corporate purpose.
Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non institutional investors.
Investors can bid for a minimum of 26 equity shares and in multiples of 26 equity shares thereafter.
ICICI Securities, Axis Capital, JSBC Securities and Capital Markets (India) Private Limited J.P. Morgan India and SBI Capital Markets are the merchant bankers.
The equity shares of the company will be listed on BSE and NSE.