Virgo Engineers Ltd IPO : Files DRHP With SEBI

by khalid on 07/08/2010 · 1 comment

Virgo Engineers Ltd is a leading manufacturer of Ball Valves for Energy and Process manufacturers. The company has filed a Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) on 13th July 2010 to float its Initial Public Offer (IPO), of the Equity Shares. The company plans to raise money from primary market with an IPO of 13,430,346 equity shares of face value Rs 10 each, with a premium decided by the 100% book building process. The issue size of this IPO will be Rs —- crore .

The Promoters of the Company are Mr. V. Balsubramanian and Mr Mahesh Desai.

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 objects of the fresh issue :- The money raised from this IPO will be utilize by the company for Fund capital expenditure, capital expenditure at Subsidiaries, capital expenditure towards our information technology infrastructure and funding the repayment of a portion of the debt.

Book Running Lead Managers (BRLMs) to the offer are IDFC Capital and Edelweiss Capital Limited .

Stay tuned to BelltheBull Blog for more on Virgo Engineers Ltd IPO!

Source :- BelltheBull

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