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Jul 12, 2012, 08.23 AM IST
The IPO by engineering procurement and construction (EPC contractor) company VKS Projects has received an overwhelming response from investors and was subscribed 0.50 times on the very first day of opening today, according to information available on the NSE website.
The reserved portion of qualified institutional investors has been fully subscribed. The Rs 55-crore book building issue in the price band of Rs 55 to Rs 60 per equity share of Rs 10 each closes on Wednesday, July 4, 2012. 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.
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