In its silver jubilee year, engineering, procurement and construction (EPC) company Vascon Engineers is going the IPO way. The company intends to raise close to Rs 200 crore. Part of the funds would be used to pay off debts amounting to Rs 39 crore, while about Rs 115 crore would be earmarked for its real estate and EPC business.
Explaining the company’s objective, Managing Director R Vasudevan told Business Standard: “The main purpose is not to raise money through this but to get a better visibility and put the company in a right perspective for investors and the public.”
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