VSF Projects will be raising funds to the tune of Rs 150 crore through preferential issue / QIP placement of equity shares / warrants to promoters and public, for the purpose of investment in its wholly owned subsidiary VSF Energy Projects. The company’s board gave its approval to the proposal in their meeting held on January 19, 2012.
The company has also constituted fund raising committee for the purpose of finalizing the modalities of raising funds, appointment of intermediaries, merchant bankers, conducting of postal ballot etc. VSF Energy Projects was incorporated as a special purpose vehicle (SPV) on March 7, 2011 as a subsidiary of VSF Projects in order to develop energy projects.
VSF Projects was incorporated to carry on the business of Aqua Culture with a 100% Export Oriented Unit (EOU) status but due to viral problems and climatic conditions the company diverted into the field of infrastructure in the year 2005.