Man Infraconstruction to list on March 11

Man Infra BSE | NSE 09/02/12 Are Mutual Funds betting on Man Infra?

Man Infraconstruction has fixed March 11, 2010 as the listing date for its equity shares issued via recent public issue, which was opened during February 18-22. The company has fixed the issue price at Rs 252 per share, at higher end of price band of Rs 243-252.

The 56,25,150 equity shares initial public offering IPO was subscribed 60.44 times, a highest subscription in the last two years. The company has raised Rs 141.75 crore from this issue, which would be used for purchase of capital equipment.

Man Infra provides construction services for port infrastructure, residential, industrial, commercial and road infrastructure projects. As on December 31, 2009, the company's order book, on a consolidated basis, stood at Rs 20,209.25 million spread across the construction sectors.

The equity shares of the company would be listed on NSE and BSE. The book running lead managers to the issue were Edelweiss Capital Limited and IDFC-SSKI Limited.