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VKS Projects Ltd IPO (VKS Projects IPO) Detail

Jun 29, 2012 - Jul 4, 2012        

Incorporated in 1998, VKS Projects Ltd is a Navi Mumbai based Engineering Procurement and Construction Company (EPC Contractor) 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 for various industries including but not limited to Chemicals, Oil and Gas (on-shore and offshore), Refinery, Petrochemicals, Dyestuff, Pharma & Bulk Drugs, Metallurgy, Power and Textiles.

Company area of expertise are Fabrication & Erection of Key Industry Equipments/Plants including Reaction Vessels, Auto Claves, Vacuum Tray Driers, Storage Tanks, Chilling Plants, Hydrogenerators, Fire Fighting Units, Heat Exchangers/Condensers, Rotary Vacuum Tray Driers, Centrifuges, WHR boilers, Crystallizers, Scrubbers, Distillation Units, and Flakers etc.

Company Promoters:

The company is promoted by Dr. V.K. Sukumaran & Dr. Saritha Sukumaran.

Company Financials:

ParticularsFor the year/period ended (in Rs. Lacs))
Total Income6025.433023.751078.81
Profit After Tax (PAT)315.97200.4419.37

Objects of the Issue:

The objects of the issue are:
1. To meet long-term working capital requirements.
2. To finance the procurement of Construction Equipment and Key Machineries.
3. To finance the setting up of Engineering Design Studio/Office and Training Centre in Chennai, Cochin, Delhi, Hyderabad and Ahmedabad.
4. For General Corporate Purposes; and
5. To Meet Issue Expenses

Issue Detail:

  »»  Issue Open: Jun 29, 2012 - Jul 4, 2012
  »»  Issue Type: 100% Book Built Issue IPO
  »»  Issue Size: 10,000,000 Equity Shares of Rs. 10
  »»  Issue Size: Rs. 55.00 Crore
  »»  Face Value: Rs. 10 Per Equity Share
  »»  Issue Price: Rs 55 - Rs 60 Per Equity Share
  »»  Market Lot: 100 Shares
  »»  Minimum Order Quantity: 100 Shares
  »»  Listing At: BSE, NSE

VKS Projects Ltd IPO Grading

CRISIL has assigned an IPO Grade 1 to VKS Projects IPO. This means as per CRISIL, company has 'Poor Fundamentals'. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.

Check IPO Ratings from other stock analysts.

VKS Projects IPO Reviews:

  1. VKS Projects Ltd IPO review by Dilip Davda

Issue Subscription Detail / Current Bidding Status

Number of Times Issue is Subscribed (BSE + NSE)
As on Date & TimeQualified Institutional Buyers (QIBs)Non Institutional Investors (NIIs)Retail Individual Investors (RIIs)Total
Shares Offered / Reserved 5,000,000  1,500,000  3,500,000  10,000,000 
 Day 1 - Jun 29, 2012 17:00 IST 1.0000 0.0000 0.0000 0.5000 
 Day 2 - Jul 2, 2012 17:00 IST 1.0000 0.0000 0.0000 0.5000 
 Day 3 - Jul 3, 2012 17:00 IST 1.1500 0.3300 0.1000 0.6600 
 Day 4 - Jul 4, 2012 17:00 IST 1.1500 0.3800 1.1300 1.0300 

VKS Projects IPO News Alerts

  1. Monday, July 16, 2012 11:42:16 AM
    IPO Listing - VKS Projects Ltd
  2. Monday, July 16, 2012 1:45:20 AM
    IPO Allotment - VKS Projects Ltd
  3. Wednesday, July 4, 2012 10:55:27 AM
    VKS Projects IPO fully subscribed on its closing day
  4. Tuesday, June 26, 2012 12:11:15 AM
    Upcoming IPO - VKS Projects Ltd

VKS Projects IPO Rating

Rating:Rated 3.5 stars

Vote Here ...

VKS Projects IPO Listing Date

Listing Date:Wednesday, July 18, 2012
BSE Scrip Code:534567
Listing In:'T' Group of Securities
Issue Price:Rs. 55.00 Per Equity Share
Face Value:Rs. 10.00 Per Equity Share

Listing Day Trading Information

Issue Price:Rs 55.00
Open:Rs 55.80
Low:Rs 53.05
High:Rs 56.00
Last Trade:Rs 55.60
Rs 55.00
Rs 56.35
Rs 53.95
Rs 56.35
Rs 55.00

VKS Projects IPO Prospectus

Company Contact Information

Registered Office :
    507, 'B' Wing, Sai Sangam,
    Sector 15, CBD Belapur (E),
    Navi Mumbai 400614
Phone: 91-22-41267000

VKS Projects IPO Registrar

Bigshare Services Pvt. Ltd   »  Report
   Bigshare Services Pvt Ltd E-2 & 3,
   Ansa Industrial Estate, Saki-Vihar Road,
   Sakinaka, Andheri(E), Mumbai - 400 072

Phone: 91-22-40430200
Fax: 91-22-2847 5207

VKS Projects IPO Lead Manager(s)

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VKS Projects IPO Messages (VKS Projects IPO Comments)

25. Venky IPO  Aug 23, 2012 1:05:41 AM IST |   Reply  |  Venky IPO's messages

Stay away from IPO Retail investors. The markets are playground for Institutional sharks and retail investors stand to gain little unless there is a sustained bull run. This being the case for established stocks, the unknown IPOs become even riskier bets. Gone are the good old days when IPOs were priced at face value or conservatively thus providing handsome returns. Nowadays every IPO is overpriced be it Govt PSUs or Top honchos like Ambanis or the B/C grade company - everyone are out to make a quick buck in the IPO market. There used to be very lively discussions on IPOs in the good old days but most of those users have quit posting comments due to this very reason. You might still make money in 1 or 2% of the stocks, but that still makes the IPO market a riskier investment than Casinos and Gambling!!! Remember its your hard earned money going down the drain only to benefit a greedy promoter. SEBI can only mimic Poodle singh and watch the show rather than take affirmative action.


24. marketrider  Jul 16, 2012 11:32:23 AM IST |   Reply  |  marketrider's messages

Operator may take positions in this ipo. Beware !


23. A LA  Jul 14, 2012 12:17:11 PM IST |   Reply  |  A LA's messages



23.1. Sameer Bhatia  Jul 17, 2012 12:19:51 PM IST |  Sameer Bhatia's messages

18th July


22. no  Jul 13, 2012 4:02:40 PM IST |   Reply  |  no's messages

what will be the circit filter for this ipo.5,10 or20 or no limit for 1st day?anybody who know,ple. tell me very urgently


21. Imran Kadiwala  Jul 13, 2012 10:56:33 AM IST |   Reply  |  Imran Kadiwala's messages

investors who have applied for VKS will get good listing major movement seems after listing..!!! so better to come out on listing day.. ( sources ) ...


20. monil jain  Jul 11, 2012 4:45:02 PM IST |   Reply  |  monil jain's messages

are koi to batao vks project ltd ka premium kitna chal raha hai. sab so gai kya.


19. no  Jul 10, 2012 2:36:14 PM IST |   Reply  |  no's messages

somebody tell me how will list this ipo and what should be price?


18. m.l.a.  Jul 8, 2012 6:28:10 PM IST |   Reply  |  m.l.a.'s messages



17. UMANG KOTHARI  Jul 7, 2012 12:42:09 PM IST |   Reply  |  UMANG KOTHARI's messages



16. monil jain  Jul 6, 2012 6:52:36 PM IST |   Reply  |  monil jain's messages

hi ipo raja how are you. are yaar koi ipo to bazar me lao.


15. Rkg  Jul 5, 2012 8:57:02 AM IST |   Reply  |  Rkg's messages

Retail investors who have applied for this issue will get bagful of returns


15.1. m.l.a.  Jul 8, 2012 3:21:54 PM IST |  m.l.a.'s messages

dear rkgyou have any definiteinformation.thanks


14. Priya Jain  Jul 4, 2012 5:53:57 PM IST |   Reply  |  Priya Jain's messages

Good news friends.

Issue survived.

BSE recieve bids for 47.54% shares
NSE recieve bids for 55,45% shares

Total = 103%


13. IPO SHOKHIN  Jul 4, 2012 12:57:01 PM IST |   Reply  |  IPO SHOKHIN's messages



12. santonu  Jul 3, 2012 9:37:44 PM IST |   Reply  |  santonu's messages

Issue seem to be fully subscribed


11. Sameer Bhatia  Jul 3, 2012 6:10:25 PM IST |   Reply  |  Sameer Bhatia's messages

can somebody please tell me the latest subscription numbers?


11.1. santonu  Jul 3, 2012 9:36:56 PM IST |  santonu's messages

As per NSE site-QIB-1.3 HNI-0.3 Retail -0.3


10. Anand R  Jul 3, 2012 6:03:33 PM IST |   Reply  |  Anand R's messages

This IPO is not offered thru ICICI Direct. Can someone explain why ICICI is offering selective IPOs?


9. Priya Jain  Jul 2, 2012 11:48:01 AM IST |   Reply  |  Priya Jain's messages

VKS Projects: High valuation, poor fundamentals make IPO unattractive
30 Jun, 2012, 05.55PM IST, Suraj Sowkar,ET Bureau

High valuation and poor fundamentals make VKS Projects' initial public offer (IPO) unattractive in the current market. Investors are advised to avoid this IPO.


VKS Projects is a small-sized engineering, procurement and construction ( EPC) company engaged in fabrication and erection of key industry equipment. It caters to various companies in the oil and gas, pharma, power and textiles sectors.


VKS Projects intends to raise Rs 55 crore through this public issue to finance its expansion plans. Out of the total proceeds, 41% would be used for financing construction equipment and machineries, 27% for long-term working capital requirement, 18% for setting up of design studios and the rest for general corporate expenses.


The company's revenues have grown at a CAGR of 107% between FY07 and FY11. Although this looks impressive, it has not been able to generate a positive operating cash flow since the last five years. This is due to its trade receivables which have been growing at a faster rate.

In the nine months ended December 2011, its account receivables formed 65% of its revenues. Any further deterioration in cash flows would further impact the company's profitability. In addition, the current order book of the company is Rs 98 crore, which is nearly equal to the revenues in nine months ended December 2011.

As most of its projects are to be completed within the next twelve months, its current order book would provide a reasonable revenue visibility for the current financial year. To maintain its past growth record, the company would have to its increase its order book in the near term.


Based on its FY11 earnings, the stock at the upper price band of Rs 60 is placed at a post issue P/E of 6.4.

Its peers in the industry like McNally Bharat Engineering Company and Petron Engineering, which are more established in the industry, are trading at a P/E of 5.1 and 4.4, respectively. The price band looks expensive due to its weak fundamentals and relatively small size of the company.


8. STAR IPO KING  Jul 1, 2012 8:32:44 PM IST |   Reply  |  STAR IPO KING's messages

may proved another msk project .


7. gundu anna  Jul 1, 2012 6:11:05 PM IST |   Reply  |  gundu anna's messages

Never ever think of applying this kind of shares....


6. gundu anna  Jul 1, 2012 6:10:32 PM IST |   Reply  |  gundu anna's messages

Dont apply for VKS. Its high risk!!!!


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