VMS Industries Limited is entering into primary market with an Initial Public Offer (IPO) of 7,152,778 Equity Shares of Rs 10 each. The IPO is opening on 30th May 2011 and the shares will be available for subscription up to 2nd Jun 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 – Rs 40 Per Equity Share. The company is likely to raise around Rs 25.75 Crore through the issue at the upper level of price band. 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.
The proceeds of the IPO are proposed to be utilized for purchase of machineries to be installed at existing Ship Recycling Plot, setting up of corporate office at Ahmedabad, meeting long-term working capital requirement and meeting the IPO expenses.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
IPO Summary :-
IPO Open : 30th May 2011 – 2nd Jun 2011
IPO Type : 100% Book Built Issue IPO
IPO Size : 7,152,778 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
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