Vascon Engineers, is entering the capital market on 27 January, 2010, with an initial public offering (IPO) of 1.08 crore equity shares of Rs. 10 each for cash at a price to be decided through a 100% book-building process. The price band has been fixed between Rs. 165 and Rs. 185 per equity share. Bids can be made for a minimum of 35 equity shares and in multiples of 35 equity shares thereafter. The issue closes on 29 January, 2010.

The net issue represents around 11.95% of the post-issue capital of the company. The company intends to use Rs 115 crore of the issue proceeds for engineering, procurement and construction (EPC) contracts and realty projects. Around Rs 39.6 crore to be used for debt repayment and the balance to be used for meeting issue and corporate expenses.

Pune based Vascon Engineers is an EPC services and realty company. Vascon commenced operations primarily as a construction company, lately it has diversified into real estate development