MEP Infrastructure Developers has received Securities and Exchange Board of India’s approval to raise Rs. 360 crore through an initial public offer (IPO), according to reports.
Report stated that the company had filed its draft papers with SEBI for the proposed public offer in September.
The proceeds of the issue would be utilised for repayment of certain loans and for general corporate purposes.
There are reports that the issue is being managed by IDFC Securities Ltd, Inga Capital Pvt Ltd and IDBI Capital Market Services Ltd.