Chhattisgarh based Vaswani Industries IPO has got 2 out of 5 by ICRA (rating agency) and this rating/grading is ‘Below Average’ for a steel manufacturer and power generation company. The grade 2 indicates that the fundamentals of the IPO are ‘Below Average’ compared to the other listed securities in India. Vaswani Industries Limited is engaged in integrated business of manufacturing Sponge Iron, Steel Billets & Ingots and power generation. VIL is a part of Vaswani Group of Industries.
The IPO proceeds will be used by Vaswani Industries Limited for finance pre-payment of the term loan, finance long term working capital requirement, general corporate purposes, finance public issue expenses and list the equity shares of the company on the stock exchanges.
The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).
The Sole Book running lead managers (BRLM) to the issue is Ashika Capital Limited
Registrar of the Issue : Link Intime (India) Private Limited
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