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Nuvoco Vistas Corporation Limited ( (IN:NUVOCO) ) has provided an update.
Nuvoco Vistas Corporation Limited has received approval from the National Company Law Tribunal for its resolution plan to acquire Vadraj Cement Limited. This acquisition, facilitated through its subsidiary Vanya Corporation Private Limited, will enhance Nuvoco’s market position as the fifth largest cement group in India, with a combined capacity of approximately 31 million metric tons per annum. The acquisition is set to be completed within 45 days, with a cash consideration of Rs.1800 crores, and will result in Vadraj Cement becoming a wholly owned subsidiary of Nuvoco.
More about Nuvoco Vistas Corporation Limited
Nuvoco Vistas Corporation Limited operates in the cement manufacturing industry, providing a range of cement products. The company focuses on consolidating its position in the Indian market, aiming to become one of the largest cement groups in the country.
YTD Price Performance: -12.65%
Average Trading Volume: 9,228
Current Market Cap: 112.3B INR
For a thorough assessment of NUVOCO stock, go to TipRanks’ Stock Analysis page.