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Mumbai (Maharashtra) [India], November 18: Vectras Enprocon Limited, a Gujarat-based Engineering, Procurement and Construction (EPC) company serving the midstream and downstream segments of the Oil & Gas industry, has received in-principal approval from BSE SME for its Draft Red Herring Prospectus (DRHP) — marking a Key Step towards its proposed Initial Public Offering (IPO). The Company proposes to issue up to 50,00,000 fresh equity shares, each having a face value of ₹10, along with an offer for sale of up to 10,00,000 equity shares as part of its proposed IPO. The proceeds from the fresh issue will be utilized towards the repayment or prepayment of certain borrowings, meeting working capital needs, and for general corporate purposes.

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