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Mitcon Consultancy, an engineering services and consultancy firm, plans to raise Rs 25 crore through its maiden venture into the capital markets.
The company’s initial public offering (IPO) will be offered at Rs 61 per share and will be open through October 15 -18, 2013.
The proceeds of the issue will be utilised by the company for setting up offices in Bangalore, Hyderabad, New Delhi and Chennai and environmental testing laboratories in Bangalore and Ahmedabad.
The company will only list on the NSE Emerge platform. This will be the fourth SME to list on the NSE platform.
Mitcon is a Pune-based company and has a networth of Rs 55 crore. The company posted net profits of about Rs 10 crore in FY-13.
