VMS Industries IPO : ICRA gives 1 out of 5

by khalid on 30/05/2011 · 0 comments

VMS Industries Limited IPO has got 1 out of 5 by ICRA (rating agency) and this rating/grading is poor fundamental for a ship recycling and off-shore activities. The grade 1 indicates that the fundamentals of the IPO are poor fundamental compared to the other listed securities in India. The company is entering into primary market with an Initial Public Offer (IPO) of Rs 25.75 crores. The IPO is opening on 30th May 2011 and the shares will be available for subscription up to 2nd May 2011. 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 36 at the lower level and Rs 40 at the upper level. VMS Industries Limited is in the business of providing different kinds of financial and consulting services and later on diversified into the ship recycling and off-shore activities.

IPO Summary :-
IPO Open : 30th May 2011 – 2nd Jun 2011
IPO Type : 100% Book Built Issue IPO
IPO Size : —– Equity Shares of Rs 10 each
IPO Size : Rs 25.75 Crore
Face Value : Rs 10 Per Equity Share
IPO Price : Rs 36 – Rs 40 Per Equity Share
Minimum Bid Quantity : 160 Shares (Rs.6400 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 4960 Shares (Rs. 198400 with 31 Lots ) @ upper level of price band
Listing At : BSE, NSE

The Sole Book running lead manager (BRLM) to the issue is Ashika Capital Limited.

Registrar of the Issue : Cameo Corporate Services Limited

Stay tuned to BelltheBull Blog for more on VMS Industries IPO !

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