“Vascon Engineers Limited ( "Vascon" or the "Company") proposes, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a Red Herring Prospectus ( "RHP") with the Registrar of Companies ( "ROC"), Maharashtra, at Mumbai.”
“Vascon Engineers received board approval to buyout 20 percent stake in partnership firm Ajanta Enterprises for 550 million rupees.”
“Vascon is confident that this acquisition will yield economies of scale and improve Vascon's edge in offering turnkey solutions to the factory, IT and hotel buildings space, as it is engaged in synergic and complementary operations, stated a release.”
“Vascon had fixed the issue price at the lower end of the price band of Rs 165-185 a share and is estimated to have raised around Rs 180 crore through the public float as against the upper target of Rs 200 crore.”
“Vascon is an engineering, procurement and construction services and real estate development company with operations across states.”
“As of December 31, 2009, Vascon has completed 181 EPC contracts valuing Rs 889 crore, out of which 157 EPC contracts representing 75 per cent of the total value were for third parties, and the remaining for its own projects.”
“As of December 31, 2009, Vascon had completed an aggregate of 181 EPC contracts, with a total contract value of Rs. 8,888.70 million, out of which 157 EPC contracts were for third parties, with a total contract value of Rs. 6,562.81 million.”
“Vascon from this list probably has the highest chance of going through because of the slightly higher pedigree.”
“Vascon has a Rs 39 billion order book, including three projects worth Rs 6 billion in the cities of Mumbai, Chennai and Hyderabad it bagged in the last two months, he said.”
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