Nuvoco has followed an acquisition-led growth strategy to scale up its business
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
The IPO market’s breakneck pace is expected to continue in the week ahead, with another 4 IPOs slated to raise over Rs 14,000 crore. The largest among them is cement major Nuvoco Vistas, which plans to raise Rs 5,000 crore at a market cap of over Rs 20,000 crore. The issuance is a combination of primary and secondary offerings. While the new capital will be used to repay Nuvoco’s corporate debt, the secondary capital will be used for debt…
