MBL Infrastructures IPO to hit markets today

MBL Infrastructures Ltd, engaged in the construction and maintenance of roads and highways, industrial infrastructure projects and other civil engineering projects for various government bodies and other clients is coming out with an Initial Public Offering (IPO) of 5,700,000 Equity Shares of Rs. 10 each for cash at a price band of Rs. 165 - Rs. 180 Per Equity Share through 100% Book Building Process.

The Issue Opens for subscription on Nov 27, 2009 and closes on Dec 01, 2009. The Issue Size in Value is Rs. 94.05 - 102.60 Crore.

The Bid lot is 35 Shares and in multiples of 35. The Minimum Order Quantity is 35 Shares.

The shares of the company will be listed at National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

ICRA has assigned an IPO Grade 2 to MBL Infrastructures Ltd IPO. This means as per ICRA, company has below average fundamentals. ICRA assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.

Source : Equity Bulls

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