MEP Infrastructure Developers Limited, an established and leading player in tolling operations in the road infrastructure sector having a pan-India presence with focus on pure toll collection projects as well as OMT projects, is planning to enter the capital market with initial public offer of its equity shares of face value of Rs 10 each for cash aggregating up to Rs. 3,240 million.
The Issue opens on Tuesday, April 21, 2015 and closes on Thursday, April 23, 2015.
The Issue is being made through the Book Building Process wherein at least 75% of the Issue shall be Allotted on a proportionate basis to Qualified Institutional Buyers (“QIBs”), provided that the Company may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Issue Price. If at least 75% of the Issue cannot be Allotted to QIBs, then the entire application money shall be refunded forthwith.
Further, not more than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Issue shall be available for allocation to Retail Individual Bidders in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the “SEBI Regulations”), subject to valid Bids being received at or above the Issue Price.
The equity shares are proposed to be listed on the BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”).
IDFC Securities Limited, Inga Capital Private Limited and IDBI Capital Market Services Limited are the Book Running Lead Managers to the Issue, and Link Intime India Private Limited is the Registrar to the issue.
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