Vascon Engineers surges on getting nod to raise Rs 125 crore
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Vascon Engineers is currently trading at Rs. 77.25, up by 1.08 points or 1.42% from its previous closing of Rs. 76.17 on the BSE.
The scrip opened at Rs. 76.84 and has touched a high and low of Rs. 77.94 and Rs. 73.40 respectively. So far 255535 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 84.50 on 03-Nov-2023 and a 52 week low of Rs. 23.83 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 79.78 and Rs. 73.40 respectively. The current market cap of the company is Rs. 1703.04 crore.
The promoters holding in the company stood at 32.20%, while Institutions and Non-Institutions held 0.99% and 66.81% respectively.
Vascon Engineers has received approval for raising of funds by way of issuance of such number of equity shares having face value of Rs 10 each of the Company (Equity Shares) and / or other eligible securities or any combination thereof (hereinafter referred to as Securities), for an aggregate amount not exceeding Rs 125 crore or an equivalent amount thereof by way of qualified institutions placement (QIP) or other permissible mode in accordance with the applicable laws, subject to the receipt of necessary regulatory / statutory approvals, as may be required. The Board of Directors of the company, at its meeting held on November 30, 2023, has inter-alia approved the same.
Vascon Engineers is one of the leading Construction Engineering Company in India with presence in Real Estate business having an asset light model and Clean Room Partition manufacturing business.
