Vascon Engineers Limited IPO : Allotment Details

by khalid on 01/02/2010 · 0 comments

Vascon Engineers Limited IPO got fully subscribed on the closing day but Retail Investors portion of the issue got subscribed just 0.6200%, so it is clear that all individual will get firm allotment. The price band for the issue was Rs 165 at lower level and Rs 185 at upper level. Details of different catagory subscription is as follows……

Total Issue Size : 10800000 shares
Total Bids Received : 13141695 shares
Total Bids Received at Cut-off Price : 1790390 shares
No. of times issue is subscribed : 1.22%
Qualified Institutional Buyers (QIBs) : 1.1210%
Non Institutional Investors : 3.6458%
Retail Individual Investors : 0.6200%
Employee Reservation : 0.5352%

Now its allotment status is reddy and can be seen here. My allotment status.

Incorporated in 1986, Vascon Engineers Limited is engineering, procurement and construction services and real estate Development Company with operations in a number of states and union territories in India. Vascon have significant experience of 23 years in providing EPC services which include constructing factories, hospitals, hospitality properties, office and residential complexes, shopping malls, multiplexes, IT parks and other buildings.

Objects of the Issue:
The objects of the Issue are to raise funds for construction of EPC contracts and real estate development projects; repayment of debt; general corporate purposes and achieve the benefits of listing on the Stock Exchanges.

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