VKS Projects fixes issue price at Rs 55/share

The Rs 55-crore book building IPO in the price band of Rs 55 to Rs 60 per equity share of Rs 10 each has received total bids of 10.30 million equity shares. The equity shares are proposed to be listed on the BSE and NSE.

The proceeds raised through this public issue are proposed to be deployed to meet long-term working capital requirements besides financing the procurement of construction equipment and key machineries and the setting up of engineering design studio/office and training centre in Chennai, Cochin, Delhi, Hyderabad and Ahmedabad.

VKS Projects Ltd is engaged in the business of undertaking EPC contracts of CS/SS/alloy steel turnkey piping, civil land development, industrial / commercial infra projects, structural fabrication and erection of equipments, fire fighting projects and commissioning of chemical plants.

Aryaman Financial Services Ltd is the sole book running lead manager for the issue and Bigshare Services Pvt Ltd is the registrar to the issue.