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Engineering procurement and construction company VKS Projects Ltd will enter the capital market with an initial public offering to raise Rs 55 crore through 100 per cent book building process.
The company said in a release that the price band has been fixed at Rs 55 to Rs 60. The issue opens on June 29, 2012, and closes on July 4, 2012. The equity shares are proposed to be listed on the BSE and NSE.
According to the company, Crisil has assigned IPO Grade 1 to the issue. The company has been in the EPC business for the last 13 years and its revenues have grown at a CAGR of 106.57 per cent between fiscal 2007 and fiscal 2011, increasing from Rs 330.93 lakh in fiscal 2007 to Rs 6,025.43 lakh in fiscal 2011. Revenues have touched Rs 9,755.13 lakh for the nine months ended December 31, 2011 in FY 2012.
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