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Vascon Engineers rises on entering into term sheet with ICD Holders

09 Sep 2015

Vascon Engineers is currently trading at Rs. 21.55, up by 0.15 points or 0.70% from its previous closing of Rs. 21.40 on the BSE.

The scrip opened at Rs. 22.00 and has touched a high and low of Rs. 22.00 and Rs. 21.10 respectively. So far 59,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 31.80 on 15-Sep-2014 and a 52 week low of Rs. 14.60 on 23-Jun-2015.

Last one week high and low of the scrip stood at Rs. 24.40 and Rs. 20.25 respectively. The current market cap of the company is Rs. 338.00 crore.

The promoters holding in the company stood at 38.54% while Institutions and Non-Institutions held 7.83% and 53.63% respectively.

Vascon Engineers has entered into a term sheet with holders of Inter Corporate Deposits’ (ICD Holders) to convert existing loans of ICD Holders to an extent of Rs 68.61 crore, in to the Non Convertible Debentures (NCD’s) at a zero coupon rate, with a redemption premium of up to 14% per annum, which shall be based on the net sale proceeds of the securities provided by the company.

Vascon Engineers has significant experience in providing EPC services, which include, constructing factories, hospitals, hospitality properties, office and residential complexes, shopping malls, multiplexes, IT parks and other buildings.

Related Vascon Engineers Ltd. Links:

Vascon Engineers Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323