Nuvoco Vistas IPO Listing

On 23rd August, Nuvoco Vistas listed at a discount of -15%, but the stock managed to bounce back. Both the NSE and BSE are showing positive returns on Nuvoco Vistas but that is misleading because the exchanges consider returns from the opening price. Compared to the IPO price, the stock closed lower. 

The overall subscription of 1.71X in the Nuvoco Vistas IPO was tepid, especially when you consider that HNI portion was subscribed to just 0.66X and the Retail portion 0.73X. It was the QIB portion at 4.23X that had saved the day. Here is the Nuvoco Vistas listing story on 23rd August.

check: Nuvoco Vistas IPO Subscription

The IPO price was fixed at the upper end of the band at Rs.570 despite a very tepid 1.71X subscription. On 23rd Aug, the stock of Nuvoco Vistas was listed on the NSE at a price of Rs.485, a discount of -14.91% over the issue price. On the BSE, the stock listed at a price of Rs.471, representing a listing discount of -17.37%.

On the NSE, Nuvoco Vistas closed at Rs.529, a steep first-day closing discount of -7.19% over the issue price. On the BSE, the stock closed at Rs.531.30, a first-day closing discount of -6.79% over the issue price. Despite the bounce, the stock still closed below the IPO price.

On Day-1 of listing, Nuvoco Vistas touched a high of Rs.550 on the NSE and a low of Rs.485. The stock traded a total of 220.80 lakh shares on NSE amounting to value of Rs.1,167.09 crore.  In terms of traded value, Nuvoco Vistas was the fourth most traded stock on NSE.

On the BSE, Nuvoco Vistas touched a high of Rs.550 and a low of Rs.471. On BSE, the stock traded a total of 8.21 lakh shares amounting to value of Rs.43.29 crore. At the close of Day-1, Nuvoco Vistas had a market capitalization of Rs.18,976 crore with free-float market cap of just Rs.4,175 crore.