Nuvoco Vistas Corporation Limited has informed the Exchange regarding Outcome of Board Meeting held on August 26, 2025.
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Nuvoco Vistas' Board approved converting an unsecured loan of Rs. 508.65 crore (along with accrued interest) given to its wholly owned subsidiary, Vadraj Cement Limited, into 50,86,54,794 equity shares of Rs. 10 each at fair value. The conversion is for consideration other than cash, based on a registered valuer's report, and is classified as a related party transaction. Post-conversion, Nuvoco's holding in Vadraj remains unchanged at 100% (the share count rises from 10 crore to 60.87 crore shares). Vadraj, a cement manufacturer with a 3.5 MMTPA clinker unit in Kutch and a 6 MMTPA grinding unit in Surat, was acquired via the IBC resolution plan approved by NCLT in April 2025, and its operations had been suspended for over 7 years.
This is an internal restructuring move that strengthens Vadraj Cement's balance sheet by converting debt into equity, with no change in Nuvoco's ownership or consolidation. It has no direct impact on Nuvoco's share count or shareholders, but signals continued capital support for reviving Vadraj's cement operations.