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MEP Infrastructure sees weak listing, down 19% in opening

Shares of MEP Infrastructure Developers fell as much as 18.9 percent in early grade on Wednesday. The stock opened at Rs 65 on the National Stock Exchange and touched an intraday low of Rs 52.80 compared to issue price of Rs 63.

May 06, 2015 / 03:14 PM IST
 
 
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Moneycontrol Bureau


Shares of MEP Infrastructure Developers fell as much as 18.9 percent in early grade on Wednesday. The stock opened at Rs 65 on the National Stock Exchange and touched an intraday low of Rs 52.80 compared to issue price of Rs 63.


At 11 hours IST, the stock was trading at Rs 58.10, down Rs 6.90 or 10.62 percent.


MEP Infrastructure Developers focuses on pure toll collection projects as well as OMT projects, which involve maintenance obligations in addition to toll collection on operational roads (including highways) constructed by third parties.


Also Read: PNC Infratech's Rs 488 crore IPO to open on May 8

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The Rs 324-crore public issue was opened for subscription during April 21-23, 2015. The fund raised through the issue by the company will be utilise for repayment of loans of subsidiary and general corporate purposes.

first published: May 6, 2015 11:12 am

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