Mitcon Consultancy to list on SME platform of NSE

Mitcon Consultancy & Engineering Services Ltd today said it proposes to enter the capital markets with a fixed price public issue of 41 lakh equity shares of Rs 10 each at a premium of Rs 51 per share, aggregating to Rs 25.01 crore.

 

The equity shares are proposed to be listed on the 'Emerge' - the SME platform of the National Stock Exchange of India (NSE), a company statement said.

 

The 2.06 lakh equity shares are reserved for subscription by market maker to the issue, leaving a net issue of 38.94 lakh equity shares for the public.

 

The issue opens on October 15 and closes on October 18 2013. The issue and net issue will constitute 33.88 and 32.18%, respectively of the post issue paid up capital of the company.

 

The company engaged in providing consultancy and engineering services has Rs 10 crore orders on hand till April 2013. The company sees opportunities in decentralised power projects, food processing, textiles and pharma sector for consultancy and engineering services.