VKS Projects IPO aims to raise Rs 55 cr

BANGALORE: VKS Projects Ltd, an engineering procurement and construction firm, is all set to foray into the capital market with an initial public offering (IPO) to secure Rs 55 crore via 100% book building process.

The price band has been decided at Rs 55-60. The issue is slated to open on June 29, 2012 and will close on July 4, 2012. The equity shares are likely to be listed on Indian stock exchanges such as Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The Credit Rating and Information Services of India Ltd (CRISIL) has given IPO Grade 1 to the issue. For the past 13 years, the company has been engaged in the EPC business and its revenues rose at a 106.57% between fiscal 2007 and fiscal 2011.

The company also said that the revenues reached Rs 9,755.13 lakh during the nine months ended December 31, 2011 in FY12.