Cement arm of billionaire Karsanbhai Patel's Nirma files for ₹5,000-cr IPO

Nuvoco Vistas, the cement arm of billionaire industrialist Karsanbhai Patel's Nirma Group, has filed for a ₹5,000-crore initial public offering (IPO). The IPO will comprise of a fresh issue of ₹1,500 crore and an offer for sale of ₹3,500 crore by its promoter entity. Patel took Nirma private by delisting its shares from the stock exchanges nine years ago.