VMS Industries Limited IPO : Files DRHP With SEBI

by khalid on 19/07/2010 · 0 comments

VMS Industries Limited was originally incorporated as ‘Varun Management Services Private Limited’ on December 2, 1991. The company is engaged in Ship Recycling Business and is into demolition of ships at alang, India. The company has filed a Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to float its Initial Public Offer (IPO), of the Equity Shares. The company plans to raise money from primary market with an IPO of —– equity shares of face value Rs 10 each, with a premium decided by the 100% book building process. The issue size will be Rs 108 crore .

The Promoters of the Company are Mr. Ajit Kumar Jain, Mr. Manoj Kumar Jain and Mrs. Sangeeta Jain

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 financing and modernization of various existing and proposed manufacturing facilities at Kalol, financing the setting up of Wind Energy unit with a proposed power capacity of 1.5 MW p.a, parting finances for the long term working capital requirements, meeting the issue expenses and general corporate purpose.

Book Running Lead Managers (BRLMs) to the offer is Ashika Capital Limited Mumbai and Cameo Corporate Services Limited Vadodara is the Registrar.

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

Source : BelltheBull

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