Vascon Engineers IPO opens on January 27, 2010

The Initial Public Offering (IPO) of Vascon Engineers Ltd., an engineering, procurement and construction (EPC) services and real estate development company, will enter the capital market on Wednesday - January 27, 2010 with an issue of 10,800,000 equity shares of Rs 10 each for cash at a price band of Rs 165 to Rs 185 throguh 100% book-building process.

Kotak Mahindra Capital Company Limited, Enam Securities Private Limited are the book running lead managers to the IPO. Kotak Securities Ltd is the syndicate member to the issue.

Karvy Computershare Private Limited is the registrar to the company.

The rating agency CRISIL has given IPO Grading of "IPO Grade 3" indicating average fundamentals.

The equity shares of the company will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The minimum order quantity in the IPO is 35 Equity Shares and in mulitples of 35 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs 100000.

The IPO closes for subscription on Friday - January 29, 2010.

Source : Equity Bulls

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