IPO Flash: MBL Infrastructure Ltd

IPO Snapshot:
Issue Opens on: November 27, 2009
Issue Closes on: December 1, 2009
Bid Lot: 35 Equity Shares
Price Band: Rs.165 to Rs.180
No. of Shares: 5,700,000 Shares
Issue size: Rs.94 - 103 cr
Rating# (ICRA ): 2
#ICRA assigns ratings from a scale of 1-5. A rating of 5 implies strong fundamentals, whereas a rating of 1 implies weak fundamentals. In this case, the company has below average fundamentals, according to ICRA.

Company Information
*:
  • MBL Infrastructures Ltd is engaged in the construction and maintenance of roads and highways, and other civil engineering projects.
  • MBL is also engaged in steel trading and waste management (ferrous scrap and slag recycling) at major steel plants.
  • MBL has completed the execution of Build-Operate-Transfer(BOT) project of 114 kms. of Seoni- Balaghat- Rajegaon State Highway under the Public Private Partnership (PPP) arrangements.
  • MBL owns a fleet of equipments, including hot mix plants, sensor pavers, tandom rollers, soil compactors, stone crushers, tippers, loaders, excavators, motorgraders, concrete batching plants, transit mixers, concrete pumps, reversible drum mixers, dozers and cranes.
  • MBL proposes to utilize IPO money for investment in capital equipments, JVs and BOT projects.

Financials:

ParticularsFor the year/period ended (Rs. in Lacs)

30-June-0931-Mar-0931-Mar-0831-Mar-0731-Mar-0631-Mar-05
Total Income15091.1051364.3429397.1217064.1315815.8214286.88
Profit After Tax (PAT)860.232740.321692.301031.65846.35657.98

*from what we could gather

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