Nuvoco Vistas Corporation Limited, a prominent player in the Indian cement industry, has taken a significant step to bolster its financial position. The company's Board Committee has given the green light for the issuance of Non-Convertible Debentures (NCDs) worth up to Rs 600.00 crores on a private placement basis.

Key Details of the NCD Issuance

• Issue Size: Up to Rs 600.00 crores
• Issuance Method: Private placement
• Tranches: To be issued in one or more tranches
• Listing: Proposed to be listed on the Wholesale Debt Market Segment of National Stock Exchange of India Limited
• Nature of Debentures: Unsecured and/or Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs)

Additional Information

The decision was made during a meeting of the Committee of the Board of Directors held on August 18. The meeting, which commenced at 5:30 p.m. and concluded at 6:00 p.m., saw the approval of this significant financial move.

Debenture Characteristics

While specific details such as tenure, coupon rates, and interest payment schedules will be incorporated in the Key Information Document, the company has disclosed some general characteristics of the NCDs:

• The debentures may be secured or unsecured
• They will be rated and listed
• The NCDs will be redeemable

If secured NCDs are issued, they will be in favor of the Debenture Trustee as per the terms and conditions of the Debenture Trust Deed/Security Creation Documents.

Regulatory Compliance

The company has assured that all details required under Para A of Part A of Schedule III, read with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, have been provided.

This move by Nuvoco Vistas Corporation Limited indicates the company's strategic approach to raising capital, potentially for expansion, debt refinancing, or other corporate purposes. The successful issuance of these NCDs could provide the company with the financial flexibility needed to pursue its business objectives in the competitive cement industry.

Investors and market watchers will be keenly awaiting the release of the Key Information Document, which will provide crucial details about the NCDs, including their tenure, coupon rates, and credit ratings.

Nuvoco Vistas Corporation Limited, a prominent player in the Indian cement industry, has recently received an Environmental, Social, and Governance (ESG) rating of 'Crisil ESG 56' from Crisil ESG Ratings & Analytics Limited for the financial year ended March 31, 2024. This development marks a significant milestone in the company's commitment to sustainable and responsible business practices.

ESG Rating Details

The ESG rating, assigned by Crisil ESG Ratings & Analytics Limited, provides stakeholders with valuable insights into Nuvoco Vistas' performance across environmental, social, and governance parameters. The 'Crisil ESG 56' rating reflects the company's efforts in integrating sustainability into its core business operations.

Regulatory Compliance

In adherence to regulatory requirements, Nuvoco Vistas Corporation Limited has promptly disclosed this information to both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Limited (NSE). This transparency aligns with the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

Accessibility of Information

For investors and interested parties seeking more detailed information about the ESG rating, Nuvoco Vistas has made the complete rating details available on their official website at www.nuvoco.com . This move ensures easy access to the company's sustainability performance metrics.

Company's Commitment

The attainment of the 'Crisil ESG 56' rating underscores Nuvoco Vistas Corporation's dedication to maintaining high standards in environmental stewardship, social responsibility, and corporate governance. As ESG factors continue to gain prominence in investment decisions, this rating may positively influence the company's standing among socially conscious investors.

Looking Ahead

As the cement industry faces increasing scrutiny regarding its environmental impact, Nuvoco Vistas' ESG rating demonstrates the company's proactive approach to addressing these concerns. It will be interesting to observe how this rating influences the company's strategies and stakeholder relationships in the coming years.

The ESG rating for Nuvoco Vistas Corporation Limited serves as a benchmark for its sustainability efforts and may encourage further improvements in its ESG practices moving forward.