MBL Infrastructures IPO to open on November 27

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Construction company MBL Infrastructures is coming out with an initial public offering (IPO) of 57 lakh shares of Rs 10 each for cash aggregating to over Rs 100 crore. The issue will open for subscription on November 27 and will close on December 1, 2009.

The issue includes net issue to the public of 56,00,000 equity shares and a reservation of upto 1,00,000 equity shares for subscription by eligible employees.

The company is engaged in the business of construction and maintenance of roads and highways, industrial infrastructure projects and other civil engineering projects for various government bodies and other clients. It is also engaged in steel trading and waste management (ferrous scrap and slag recycling) at major steel plants.

The equity shares offered through this are proposed to be listed on Bombay Stock Exchange and the National Stock Exchange of India.

Motilal Oswal Investment Advisors Private Limited is the book running lead manager and Intime Spectrum Registry Limited is the registrar to the issue.