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| MBL Infrastructures IPO opens on 27 th Nov | | Price Band fixed at Rs 165 to Rs 180 |
| Announcement / Markets Nov 25, 2009, 20:00 IST |
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MBL Infrastructures Ltd., an integrated infrastructure construction and project development and maintenance company, will enter the capital market on November 27, 2009 offering 57, 00,000 Equity Shares of Rs 10 each at a price band of Rs 165.00 - Rs 180.00 .This issue is being made through a 100% Book Building Process. Motilal Oswal Investment Advisors Private Ltd. is the book running lead manager.
The issue closes on December 1, 2009. of the 57 lakh shares, equity shares up to 1, 00,000 will be reserved for the company’s employees.
The main purpose of the IPO is to invest in capital equipments, and working capital requirements. The IPO size will be approx 100 crs. Out of which MBL has projected a capital expenditure plan of approx. Rs. 55crs. to add to its existing large fleet of equipments. The ownership of capital equipments would strengthen MBL’s execution capacity for complex projects and would be economical in the long run.
MBL has successfully completed the execution of the 114 km BOT project of Seoni- Balaghat- Gondia in the State of Madhya Pradesh.
MBL had a turnover of Rs.505 .8 crs in FY09 with a PAT of Rs.27.4 crs. In first quarter ended June 2009 Company achieved a turnover of Rs.149 crs with PAT of Rs.8.4 crs.
MBL looks forward to make a pan-Indian presence with ‘quality’ as the key word to identify itself. The huge social responsibility of transforming India into one of the greatest nations of the world would indirectly be shouldered by MBL as well. Thus, the Company would foray into the other verticals of the infrastructure industry without compromising on the value given to its customers and stakeholders. The company also has an early mover advantage for maintenance and operation of roads & highways.
About MBL Infrastructures: MBL Infrastructures Ltd. is a dynamic proxy of the growth of India's infrastructure. MBL is engaged in the execution of civil engineering projects and specializes in Road and Highway projects. The company possesses a rich experience in Highway Construction and Road Maintenance that stretches across the decade.
MBL has a fast growing business that provides integrated engineering, procurement and construction services for civil construction and infrastructure sector projects. MBL has a pan India presence and has executed a number of projects in 15 states.
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