MBL Infrastructures IPO to open on November 27
The initial public offer (IPO) of MBL Infrastructures, the construction company, will open for subscription on November 27, 2009 and will close on December 1, 2009. The company is coming out with an initial public offering (IPO) of 57 lakh shares of Rs 10 each for cash aggregating to over Rs 100 crore.
The issue consists of net issue to the public of 56,00,000 equity shares while upto 1,00,000 equity shares reserved for the subscription by eligible employees.
The price Band is Rs.165/- to Rs.180/- per equity share. The bid lot is 35 Equity Shares and in multiples thereof.
The company is engaged in the business of construction and maintenance of roads and highways, industrial infrastructure projects and other civil engineering projects for various government bodies and other clients. It is also engaged in steel trading and waste management (ferrous scrap and slag recycling) at major steel plants.
The equity shares are proposed to be listed on Bombay Stock Exchange as well as National Stock Exchange of India.
Source: Religare Technova
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Category: IPO, Stock-News
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