MBL Infra listing tomorrow; issue price at Rs 180

MBL Infrastructure, which raised about Rs 102.6 crore through its initial public offer (IPO), will list its shares on the bourses tomorrow.

The infrastructure developer, which entered the capital market with its IPO late last year, has fixed the issue price at Rs 180 per share--the upper end of its price band.

MBL Infra's public issue of 57 lakh equity shares of Rs 10 each was open for public subscription between November 27, to December 1, 2009, in the price range of Rs 165 to Rs 180.

The public issue was based on 100 per cent book building process and was subscribed nearly two times.

The company intends to utilise the IPO proceeds to part finance capital equipments and working capital requirements.

Last week, three companies--JSW Energy, Godrej Properties and DB Corp--got listed on the stock exchanges.

On its debut trading on the BSE, the share of JSW Energy closed at Rs 100.75, up by 0.75 per cent over the issue price, while Godrej Properties--the only realtor to hit the primary market in 2009--gained over 9 per cent, marking a blockbuster debut.

The Mumbai-based realty developer settled its first day with a rally 9.09 per cent at Rs 534.55 on the BSE.

Leading media house DB Corp, the third company to list on the bourses last week, made an enviable debut and zoomed about 27 per cent at close, making it the most successful listings in recent times, stunning analysts and the markets.