MBL Infrastructure lists at premium

Demonstrating the continued investor appetite for primary markets, MBL Infrastructures Ltd., today listed at Rs. 190, a premium of Rs. 10 over the issue price of Rs 180 per share on the BSE.

MBL Infrastructure, an integrated infrastructure construction and project development and maintenance company, entered the capital market on November 27, 2009 targeting to raise about Rs 100 crores, offering 57, 00,000 Equity Shares of Rs 10 each at a price band of Rs 165 - Rs180. Motilal Oswal Investment Advisors Private Ltd. is the book running lead manager.

The IPO proceeds would be invested in capital equipments and used to meet working capital requirements.

MBL has successfully completed the execution of the 114 km BOT project of Seoni-Balaghat- Gondia in 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.