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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))
31-Mar-1131-Mar-1031-Mar-09
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. Dilip Davda says 'Avoid' to VKS Projects Ltd IPO

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: 3.5
42
3.5
Rating:Rated 3.5 stars

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VKS Projects IPO Listing Date

Listing Date:Wednesday, July 18, 2012
BSE Scrip Code:534567
NSE Symbol:VKSPL
Listing In:'T' Group of Securities
Sector:Engineering
ISIN:INE213M01016
Issue Price:Rs. 55.00 Per Equity Share
Face Value:Rs. 10.00 Per Equity Share

Listing Day Trading Information

BSE
Issue Price:Rs. 55.00
Open:Rs. 55.80
Low:Rs. 53.05
High:Rs. 56.00
Last Trade:Rs. 55.60
Volume:1,153,284
NSE
Rs. 55.00
Rs. 56.35
Rs. 53.95
Rs. 56.35
Rs. 55.00
1,138,178

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
Fax:
Email: complianceofficer@vksprojects.com
Website: http://www.vksprojects.com

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
Email:
Website: http://www.bigshareonline.com

VKS Projects IPO Lead Manager(s)


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VKS Projects IPO Messages (VKS Projects IPO Comments)

  Post New Message ...  

25. Venky IPO  Aug 23, 2012 2:05:41 AM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Venky IPO's - IPO Comments,  Public Profile

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 12:32:23 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
marketrider's - IPO Comments,  Public Profile

Operator may take positions in this ipo. Beware !

 

23. A LA  Jul 14, 2012 1:17:11 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
A LA's - IPO Comments,  Public Profile

SHARES CREDITED TO DEMAT ACCOUNT. WHEN WILL BE LISTING DATE?

 

23.1. Sameer Bhatia  Jul 17, 2012 1:19:51 PM IST |  I Like It.  Like  |  Report Abuse
Sameer Bhatia's - IPO Comments,  Public Profile

18th July

 

22. no  Jul 13, 2012 5:02:40 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
no's - IPO Comments,  Public Profile

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 11:56:33 AM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Imran Kadiwala's - IPO Comments,  Public Profile

investors who have applied for VKS will get good listing gain..no major movement seems after listing..!!! so better to come out on listing day.. ( sources ) ...

 

20. monil jain  Jul 11, 2012 5:45:02 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
monil jain's - IPO Comments,  Public Profile

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

 

19. no  Jul 10, 2012 3:36:14 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
no's - IPO Comments,  Public Profile

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

 

18. m.l.a.  Jul 8, 2012 7:28:10 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
m.l.a.'s - IPO Comments,  Public Profile

kindly
updatecurrentgmp
activity

 

17. UMANG KOTHARI  Jul 7, 2012 1:42:09 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
UMANG KOTHARI's - IPO Comments,  Public Profile

VKS PROJECT FIX PRICED 55/-

 

16. monil jain  Jul 6, 2012 7:52:36 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
monil jain's - IPO Comments,  Public Profile

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

 

15. Rkg  Jul 5, 2012 9:57:02 AM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Rkg's - IPO Comments,  Public Profile

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

 

15.1. m.l.a.  Jul 8, 2012 4:21:54 PM IST |  I Like It.  Like  |  Report Abuse
m.l.a.'s - IPO Comments,  Public Profile

dear rkgyou have any definiteinformation.thanks

 

14. Priya Jain  Jul 4, 2012 6:53:57 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Priya Jain's - IPO Comments,  Public Profile

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 1:57:01 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
IPO SHOKHIN's - IPO Comments,  Public Profile

ANY SUB FIGURES LATEST OF QIB HNI N RTAIL

 

12. santonu  Jul 3, 2012 10:37:44 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
santonu's - IPO Comments,  Public Profile

Issue seem to be fully subscribed

 

11. Sameer Bhatia  Jul 3, 2012 7:10:25 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Sameer Bhatia's - IPO Comments,  Public Profile

can somebody please tell me the latest subscription numbers?

 

11.1. santonu  Jul 3, 2012 10:36:56 PM IST |  I Like It.  Like  |  Report Abuse
santonu's - IPO Comments,  Public Profile

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

 

10. Anand R  Jul 3, 2012 7:03:33 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Anand R's - IPO Comments,  Public Profile

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

 

9. Priya Jain  Jul 2, 2012 12:48:01 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Priya Jain's - IPO Comments,  Public Profile

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.

BUSINESS

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.

OBJECTS OF THE ISSUE

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.

FINANCIALS & CONCERNS

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.

VALUATION

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 9:32:44 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
STAR IPO KING's - IPO Comments,  Public Profile

may proved another msk project .

 

7. gundu anna  Jul 1, 2012 7:11:05 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
gundu anna's - IPO Comments,  Public Profile

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

 

6. gundu anna  Jul 1, 2012 7:10:32 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
gundu anna's - IPO Comments,  Public Profile

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

 

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