MEP Infrastructure's Rs 324 crore IPO opens tomorrow

MUMBAI: Mumbai-headquartered toll operations company MEP Infrastructure Developers will offer 5.14 crore shares in its initial public offer in the price band of Rs 63-65 a share in an issue that open Tuesday.

The issue closes on Thursday. The company aims to raise Rs 324 crore through the issue of shares of face value Rs 10 each. The proceeds of the issue would primarily be used to pare loans of subsidiaries and for general corporate purposes.

MEP is in the business of toll operations and in road operations and maintenance. The company also has one road project on Build-Operate-Transfer basis.

Shares of the company would be listed on the Bombay Stock Exchange and the National Stock Exchange.

IDFC Securities, Inga Capital Private and IDBI Capital Market Services are the book running lead managers to the issue, and Link Intime India Private is the registrar to the issue.