| Log in

Toll management firm MEP Infrastructure gets SEBI nod for $60M IPO

23 December, 2014

MEP Infrastructure Developers Ltd, a Mumbai-based toll management company, has obtained capital market regulator Securities Exchange Board of India’s approval to raise up to Rs 360 crore ($56.8 million) through an initial public offer.

The company, promoted by the Mhaiskar family, had filed draft red-herring prospectus (DRHP) with the market regulator earlier in October this year for its IPO. The firm plans to use around Rs 291.2 crore towards repayment/pre-payment, of certain debt by one of its subsidiaries, MIPL.

The issue is being managed by IDFC Securities, Inga Capital and IDBI Capital.

The company follows an asset-light business model by focusing on pure toll collection as well as OMT projects on operational roads constructed by third parties. It generates revenue through collection of toll from commuters, under projects acquired by forecasting the traffic volume based on in-house surveys.

The firm has completed 68 projects, with an aggregate of 122 toll plazas and 783 lanes across 12 states in India as of now.

MEP Infra currently operates 23 toll collection projects with an aggregate of 40 toll plazas, five OMT projects covering 2,530.04 lane kms with an aggregate of 15 toll plazas and one BOT project covering 42.02 lane kms with five toll plazas. These ongoing projects are located across nine states in India.

Also Read: Toll management firm MEP Infrastructure files DRHP with SEBI for $60M IPO

(Edited by Joby Puthuparampil Johnson)


Leave Your Comment
Toll management firm MEP Infrastructure's IPO scrapes through led by HNIs & QIBs

Toll management firm MEP Infrastructure’s IPO scrapes through led by HNIs & QIBs

Anuradha Verma 3 years ago
The initial public offer of Mumbai-based toll management company MEP...
Toll management firm MEP Infrastructure files DRHP with SEBI for $60M IPO

Toll management firm MEP Infrastructure files DRHP with SEBI for $60M IPO

Bhawna Gupta 3 years ago
MEP Infrastructure Developers Ltd, a Mumbai-based toll management company, has...
MEP Infrastructure gets SEBI nod to float InvIT

MEP Infrastructure gets SEBI nod to float InvIT

Anuradha Verma 1 year ago
Toll road firm MEP Infrastructure Developers Ltd has received capital markets...
No Comments

Toll management firm MEP Infrastructure gets SEBI nod for $60M IPO

Powered by WordPress.com VIP