| Log in

Vascon Engineers To Raise Rs 200 Cr Via IPO

18 January, 2010

Vascon Engineers Ltd is planning to raise close to 2 billion rupees ($43 million) through an initial public offering (IPO) of 10.8 million shares, according to its top official.

“We are yet to receive a final clearance from the registrar of companies for the planned IPO,” Vascon Engineers Managing Director R. Vasudevan said, without specifying the launch date for the IPO.

“We are looking at a date this month-end (January-end) for the IPO to hit the market,” another company official, who did not wish to be identified, said.

The firm will use IPO proceeds to fund ongoing projects and repay debt, but Vasudevan said, he was yet to decide about engaging anchor investors for the share sale.

Vascon has a 39-billion-rupee order book, including three projects worth 6 billion rupees in the cities of Mumbai, Chennai and Hyderabad it bagged in the last two months, he said.

The Pune-based firm had clocked a revenues of 5.1 billion rupees in 2008-09, compared to 6 billion rupees a year ago.

Kotak Mahindra Capital and Enam Securities are the bankers for the IPO.


Leave Your Comment
IL&FS Transportation IPO In January; Trikona Trinity To Sell Stake

IL&FS Transportation IPO In January; Trikona Trinity To Sell Stake

Reuters 8 years ago
IL&FS Transportation Networks Ltd (ITNL), a unit of IL&FS, plans to...
DB Realty To Raise $58 Mn From Funds

DB Realty To Raise $58 Mn From Funds

Reuters 8 years ago
DB Realty Ltd has struck a deal to raise 2.7 billion rupees ($58.3 million) from...
State-Run NHPC Makes Tepid Debut

State-Run NHPC Makes Tepid Debut

Reuters 8 years ago
Shares in state-run NHPC Ltd rose by 5 percent in their trading debut, lagging...
No Comments

Vascon Engineers To Raise Rs 200 Cr Via IPO

Powered by WordPress.com VIP