Promoters' shareholding will be reduced to 38.41% post issue, which includes 13.19% stake of R Vasudevan and Lalitha Vasudevan. For the year ended March 31, 2009, the company has reported net profit of Rs 31.27 crore on total income of Rs 524.76 crore.
The issue proceeds will be used for construction of EPC contracts & real estate development projects; repayment of debt and general corporate purposes.
CRISIL has assigned IPO Grade 3/5 to the IPO of Vascon Engineers. This grade indicates that the fundamentals of the issue are average relative to other listed equity securities in India.
The book running lead managers to the issue are Kotak Mahindra Capital Company Limited and Enam Securities Private Limited.
Watch out this blog for more details on Subscription, Allotment and Listing!
0 comments:
Post a Comment