Vascon Engineers to Raise Rs 125 Cr via QIP

By By Rediff Money Desk, NEWDELHI
Nov 30, 2023 18:45
Vascon Engineers Ltd has approved a plan to raise Rs 125 crore through a Qualified Institutional Placement (QIP). The company's board of directors has authorized a QIP committee to determine the terms and conditions of the fundraising.
New Delhi, Nov 30 (PTI) Vascon Engineers Ltd on Thursday said it is planing to raise Rs 125 crore through the Qualified Institutional Placement (QIP) route.

A decision in this regard was taken at the meeting of its board of directors, Vascon Engineers Ltd said in a filing to the exchanges.

The board has approved "raising of funds by way of issuance of such number of equity shares and/ or other eligible securities or any combination for an aggregate amount not exceeding Rs 125 crore or an equivalent amount thereof by way of qualified institutions placement," it said.

The proposal is subject to the receipt of necessary regulatory/statutory approvals, as may be required, the company said.

Further, the board also constituted a QIP committee and authorised it to decide the terms and conditions of the proposed fundraise for the issue and allotment of equity shares and/or other convertible securities.
Read More On:
vascon engineersqipqualified institutional placementfundraisingequity shares
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.

You May Like To Read

MORE NEWS

Denta Water IPO...
Denta Water IPO Raises Rs 66 cr from Anchor...

Denta Water and Infra Solutions Ltd has raised Rs 66 crore from anchor investors ahead...

CCI Approves...
CCI Approves Sequent Scientific Merger,...

The Competition Commission of India (CCI) has cleared the merger of nine entities with...

EU-India FTA: German Chancellor Scholz Hopes...

German Chancellor Olaf Scholz expresses optimism about the success of free trade...

Ex-CJI Lalit...
Ex-CJI Lalit Calls for Law Education Reform -...

Former CJI Udai Umesh Lalit advocates for law education that empowers lawyers to...

Air India Express...
Air India Express Increases Baggage Allowance...

Air India Express now offers 30 kg free checked-in baggage allowance for passengers...

Grip Invest Hits USD 100 Million in Annualized...

Grip Invest, a fixed-income trading platform, reports USD 100 million in annualized...

DGCA Works on Advanced Air Mobility Regulations

The DGCA is collaborating with ICAO and other aviation authorities to develop a...

Reliance Capital Delisting: Shares to Be...

Reliance Capital (RCAP) is seeking delisting from stock exchanges as part of its...

Agro Tech Foods Acquires Del Monte India for Rs...

Samara Capital-backed Agro Tech Foods gets CCI approval to acquire Del Monte Foods's...

Sonowal Launches Rs 2,000 Cr JNPA Expansion...

Union Minister Sarbananda Sonowal launched projects worth Rs 2,000 crore to expand...

Read More »

Sectoral Indices Market Indicators Listed Companies Gainers Losers Mutual Funds Portfolio Watchlist
© 2025 Rediff.com