The IPO shall open on 29 June and shall close on 4 July, 2012. The company has fixed a price band of Rs 55 to Rs 60 per share.
The company intends to utilize proceeds of the IPO to enhance capital equipments base in order to increase on operational and financial efficiencies w.r.t project executions and also improve pre-qualification status. It also plans to expand operating activities by opening design studio/office and training centers at various locations across India.
Aryaman Financial Services Ltd is the book running lead manager to the issue. Big Share Services Pvt. Ltd. is the registrar of the issue.
Recommendation:CRISIL has assigned Grade 1 to the IPO indicating poor fundamentals. We would not recommend investors to invest in this IPO at this time.
Subscription:VKS Projects IPO barely managed to get fully subscribed before the close of the IPO.
At the close of the IPO,
QII segment got subscribed 1.15 times
NII segment got subscribed 0.38 times
Retail segment got subscribed 1.13 times