Nuvoco Vistas receives approval for its IPO

Nuvoco Vistas Corp Ltd has received approval of capital markets regulator Sebi to launch its INR15bn (US$679.35m) initial public offering (IPO).

The Indian cement producer has a current cement capacity of 22.32Mta and operates 11 plants with units in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana.

Nuvoco Vistas, formerly Lafarge India Ltd, acquired Emami Cement in February 2020.