Man Infraconstruction, the infrastructure major, which is going to hit the capital market through its IPO, seems to have fixed the price band between Rs 243 to Rs 252 per equity share, sources close to the development said.
The company plans to raise over Rs 140-crore through its IPO. The initial public offer (IPO) will open for subscription on February 18 and will close on February 22, 2010.
Man Infra undertakes and executes construction contracts besides providing project management and consultancy. In the infrastructure space, it takes up construction of roads and port container terminals and support infrastructure. In the realty sector, it undertakes residential and township construction, commercial and industrial construction.
The company’s consolidated revenues surged to Rs 594.28-crore in FY 09 from Rs 88.14-crore in FY 07, at a compounded annual growth rate (CAGR) of 159.66 percent.
Moreover, its PAT has grown from Rs 14.16-crore in FY 07 to Rs 82.74-crore in FY 09. The company’s order-book stood at a healthy Rs 2,020.93-crore as at December 31, 2009, 3.8 times the sales of FY-09. Around 83 per cent of the order-book stems from residential contracts, a segment that has seen lower off-take and slowdown in construction. However, a good many of Man Infra’s contracts come from repeat orders.
The book-running lead managers to the IPO are IDFC-SSKI and Edelweiss Capital.
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