Nuvoco Vistas Corporation Ltd to Raise Up to 12 Billion Rupees via Debenture Issue

Nuvoco Vistas Corporation Ltd, a leading player in India’s cement industry, has unveiled its plans to raise up to 12 billion rupees through the issuance of unsecured, unlisted compulsorily convertible debentures. This private placement includes Series A and Series B CCDs, each accounting for half of the total proposed proceeds. The debenture issuance has received the necessary shareholder approvals and is expected to involve participation from institutional investors.

This capital-raising exercise aligns with Nuvoco’s strategic ambitions, including the refurbishment and expansion of the recently acquired Vadraj Cement Plant and growing capacity in the eastern region of India. The company has reported strong operational performance, with improvements in consolidated EBITDA and cement sales volumes, supported by premiumisation efforts that now constitute a significant share of the trade volume.

The proceeds from the CCD issuance will bolster the company’s liquidity position, enabling it to sustain its expansion trajectory and execute ongoing projects designed to enhance manufacturing efficiency and market reach. Nuvoco continues to prioritize premium product offerings, geo-optimisation, and cost efficiencies to maintain competitive advantage in an evolving sector.

Important Points:

Nuvoco Vistas plans a private placement of unsecured, unlisted CCDs worth up to 12 billion rupees.

The debentures are divided equally into Series A and Series B CCDs.

Shareholders have approved the issuance, with expected participation from institutional investors.

Funds will support capacity expansion, particularly refurbishing Vadraj Cement Plant and eastern market growth.

The company recently reported record Q2 EBITDA and improved cement sales volumes.

Emphasis on premiumisation has increased premium products’ share to a historic 44% of trade volume.

The private placement strengthens Nuvoco’s capital structure amid ongoing expansion and operational projects.

This move reinforces Nuvoco Vistas' position as a transformative force in India’s construction materials sector, committed to sustainable growth and market leadership.

Sources: Market Screener, NSE filings, India Ratings, Nuvoco Vistas press release