VKS Projects Limited has entered the share market on 29th June 2012 and they offerred an Initial Public Offering (IPO) of 16,666,667 Equity Shares of Rs 10 each to the public. The IPO got fully subscribed on the last day of subscription and got 1.13 times subscription. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 55 at lower level and Rs 60 at upper level. VKS Projects Limited is a Navi Mumbai based EPC Company engaged in the business of undertaking EPC Contracts of CS/SS/Alloy Steel Turnkey Piping, Civil Land Development, Industrial / Commercial Infra Projects, Structural Fabrication and Erection of Equipments, Fire Fighting Projects and Commissioning of Chemical Plants for various industries including but not limited to Chemicals, Oil and Gas (on-shore and offshore), Refinery, Petrochemicals, Dyestuff, Pharma & Bulk Drugs, Metallurgy, Power and Textiles.
The proceeds of the IPO amount would be used by the management to meet long-term working capital requirements, to finance the procurement of Construction Equipment and Key Machineries, to finance the setting up of Engineering Design Studio/Office and Training Centre in Chennai, Cochin, Delhi, Hyderabad and Ahmedabad, and for General Corporate Purposes.
IPO Subscription Bifercation for different catagories :-
Qualified Institutional Buyers : 1.15 times
Non Institutional Investors : 0.38 times
Retail Individual Investors : 1.13 times
Total : 1.13 times
The equity shares offered through the IPO are proposed to be listed in Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The Book running lead manager (BRLM) to the issue is Aryaman Financial Services limited.
Registrar of the Issue : Bigshare Services Private Limited, Mumbai.
Stay tuned to BelltheBull Blog for more on VKS Projects Limited IPO !