Man Infra looking to hike presence in ports segment

Man Infra is looking at increasing their presence in the ports segment and in this effort they are looking at offloading some amount of stake in their company, reports CNBC-TV18's Nigel D'Souza quoting sources.

Man Infra will increase their proportion of their port segment income. For this particular priority it is looking at offloading roughly around 20% of their shareholding. The promoters hold around 66% at present and even in yesterday’s trade there was  marginal increase as 50,000 shares were purchased by the promoters in the open market.

Sources indicate that this 20% stake would be offloaded around Rs 325 per share. The front runner for this is likely to be Hyundai Corporation which is a big ship building company in South East Asia. Also Man Infra has been active in the civil engineering in the real estate market mainly for companies like DB Realty.

It's current order book was standing at around Rs 1500 crore out of which 22-23% is contributed from DB Realty. Man Infra is also launching its maiden project real estate project at Nahur and its project size is at least at current market price, valued at Rs 1200 crore. So watch out for their stake sale to increase their revenue from port segment and also keep an eye on real estate development.