MEP Infra's Rs 324 crore IPO to open on April 21

NEW DELHI: Toll management company MEP Infrastructure Developers' Rs 324 crore initial public offer ( IPO) will hit the capital markets on April 21.

The bidding for shares in the IPO will open April 21 and close on April 23.

MEP Infrastructure Developers would be the fifth company to hit the capital markets this year.

The company, promoted by the Mhaiskar family, plans to enter capital markets with a public issue of equity shares worth up to Rs 324 crore.

The proceeds of the issue would be utilised for repayment of certain loans and for general corporate purposes.

The issue is being managed by IDFC Securities Ltd, Inga Capital Pvt Ltd and IDBI Capital Market Services Ltd.

The company, along with its subsidiaries, has operated 68 projects with an aggregate of 122 toll plazas and 783 lanes across 12 states in the country.