Mumbai: Vascon Engineers, an engineering, procurement and construction (EPC) services and real estate development company, is all set to enter the capital market on January 27, 2010, with an initial public offering (IPO) of 10,800,000 equity shares of 10 each for cash at a price to be decided through a 100 percent book-building process, reports moneycontrol.com The price of the IPO has been set between 165 and 185 per equity share. The issue will close on January 29, 2010. The issue would 11.95 percent of the fully diluted post issue paid-up capital of the company and the net issue would constitute 11.84 percent of the fully diluted post issue paid-up capital of the company. The raise price from this issue will be used for construction of EPC contracts and real estate development projects; repayment of debt and general corporate purposes. CRISIL has assigned IPO Grade 3/5 to the IPO of Vascon Engineers. This grade indicates that the fundamentals of the issue are average relative to other listed equity securities in India. Kotak Mahindra Capital Company and Enam Securities are appointed as the book running lead managers to the issue