MEP Infr IPO gets subscribed 1.10 times on final day: Report
24/04/2015 16:33
Toll collection company MEP Infrastructure Developers' received overwhelming response from institutional investors, which saw shares subscribed 1.10 times on the final day of the offer on Thursday, PTI reported. As per data available with NSE, the company received bids for 4,44,21,750 shares against the total issue size of 4,02,89,225, marking a subscription of 1.10 times, PTI reported. Promoted by Mhaiskar family of IRB Infrastructure Developers, the company plans to raise Rs 324 crore, intended to use for repayment of loans borrowed by our subsidiary MIPL and for general corporate purposes. The issue, with a price band of Rs.63-65, opened for subscription on Tuesday and closed on Thursday. IDFC Securities, Inga Capital and IDBI Capital Market Services were issue managers. Established in 2002 as a Toll Management Company, MEP has extended its experience to BOT and OMT Projects and construction of Bridges. The company, along with its subsidiaries has completed 73 projects with an aggregate of 131 toll plazas and 825 lanes across 12 states in India.
24/04/2015 16:33
Toll collection company MEP Infrastructure Developers' received overwhelming response from institutional investors, which saw shares subscribed 1.10 times on the final day of the offer on Thursday, PTI reported. As per data available with NSE, the company received bids for 4,44,21,750 shares against the total issue size of 4,02,89,225, marking a subscription of 1.10 times, PTI reported. Promoted by Mhaiskar family of IRB Infrastructure Developers, the company plans to raise Rs 324 crore, intended to use for repayment of loans borrowed by our subsidiary MIPL and for general corporate purposes. The issue, with a price band of Rs.63-65, opened for subscription on Tuesday and closed on Thursday. IDFC Securities, Inga Capital and IDBI Capital Market Services were issue managers. Established in 2002 as a Toll Management Company, MEP has extended its experience to BOT and OMT Projects and construction of Bridges. The company, along with its subsidiaries has completed 73 projects with an aggregate of 131 toll plazas and 825 lanes across 12 states in India.
