Nuvoco Vistas Corporation Limited has informed the Exchange about Intimation under Regulation 30 (LODR)-Acquisition
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Nuvoco Vistas Corporation's board, on August 26, 2025, approved converting an unsecured loan of Rs. 508.65 crore (along with accrued interest) owed by its wholly owned subsidiary Vadraj Cement Limited into 50.86 crore equity shares of Rs. 10 each, at a fair value of Rs. 10 per share based on a registered valuer's report. Vadraj is an unlisted cement company with a 3.5 MMTPA clinker unit in Kutch and a 6 MMTPA grinding unit in Surat, Gujarat, whose operations had been suspended for over 7 years. Nuvoco originally acquired Vadraj under the IBC framework after NCLT Mumbai approved its resolution plan in April 2025, executed through Vanya Corporation which was later merged into Vadraj. After this loan-to-equity conversion, Nuvoco continues to hold 100% of Vadraj's paid-up equity share capital.
This is an internal capital restructuring within an existing subsidiary and does not change Nuvoco's ownership or introduce new shareholders. It strengthens Nuvoco's financial grip on Vadraj's cement assets, potentially supporting the revival of its long-shut operations, but has no direct effect on Nuvoco's own share count or near-term earnings.