Mumbai: MBL Infrastructures, an infrastructure and construction and project development company, announced that its Rs. 103 crore initial public offering (IPO) will open on Friday. The price band for the 57 lakh shares issue has been fixed at Rs. 165-180.
The issue will close on December 1, 2009 and the shares will be listed on both Bombay Stock Exchange and National Stock Exchange. Of the total issue size, the Qualified Institutional Buyers (QIBs) will be reserved 50 percent, non-institutional investors 15 percent and retail investors 35 percent.
The issue will also be open to anchor investors ahead of the opening. The proceeds from the issue will be used to invest in capital equipment and working capital requirements. A total of Rs. 55 crore will be used for capital expenditure. Motilal Oswal is the book running lead managers.
The issue will close on December 1, 2009 and the shares will be listed on both Bombay Stock Exchange and National Stock Exchange. Of the total issue size, the Qualified Institutional Buyers (QIBs) will be reserved 50 percent, non-institutional investors 15 percent and retail investors 35 percent.
The issue will also be open to anchor investors ahead of the opening. The proceeds from the issue will be used to invest in capital equipment and working capital requirements. A total of Rs. 55 crore will be used for capital expenditure. Motilal Oswal is the book running lead managers.
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