Vascon Engineers Limited IPO : Open for subscription

by khalid on 29/01/2010 · 0 comments

Vascon Engineers is entering in the capital markets with an initial public offering, IPO of 10800000 Equity Shares of Rs.10 each for cash, at a premium to be decided through a 100% Book Building process. The price band for the issue has been fixed at Rs 165 at lower level and Rs 185 at upper level.

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.

The issue opens on January 27, 2010, and closes for subscription on January 29, 2010. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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.

Issue Detail:

Issue Period27th Jan 2010 to 29th Jan 2010
Issue Size10800000 Equity Shares of Rs. 10 each.
Issue Type 100% Book Building
Face ValueRs. 10
Price RangeRs. 165 to Rs. 185
Market Lot35 Equity Shares
Minimum Order Quantity 35 Equity Shares
Maximum Subscription Amount for Retail Investor Rs.100000
Listing At: BSE, NSE

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