Vascon Engineers to raise Rs 200 cr via IPO

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Vascon Engineers to raise Rs 200 cr via IPO

This article was posted on Jan 18, 2010 and is filed under IPO Views

Vascon Engineers Ltd is planning to raise close to Rs 200 cr through an initial public offering (IPO) of 10.8 million shares, according to its top official.

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 Rs 3900 crore order book, including three projects worth Rs 600 crore 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 Rs 510 crore in 2008-09, compared to Rs 600 crore a year ago.

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