MAN INFRACONSTRUCTION LIMITED
Man Infraconstruction Limited fixes price band at
Rs.243 to Rs.252 per Equity Share
100% Book Building IPO Opens on 18th February, 2010
and Closes on 22nd February, 2010
Man Infraconstruction Limited (“Company”) is entering the capital market with a public issue of 5,625,150 Equity Shares of Rs.10 each through a 100% Book Building route. Upto 225,150 Equity Shares of Rs.10 each will be reserved in the issue for subscription by Eligible Employees at the issue price. The issue less the employee reservation portion shall constitute the net issue. The issue and the net issue will constitute 11.36% and 10.91% of the fully diluted post issue paid-up capital of the company.
The Price Band is Rs.243 to Rs. 252 per Equity Share of Rs.10 each. The Bid/Issue Opens on 18th February, 2010 and Closes on 22nd February, 2010.
Promoted by Mr. Parag K. Shah and Ms. Mansi P Shah, Man Infraconstruction Limited is a Mumbai headquartered construction company and has undertaken projects in Maharashtra, Kerala, Gujarat, West Bengal, Goa and Tamil Nadu.
It provides construction services for port infrastructure, residential, industrial, commercial and road infrastructure projects. It has executed significant onshore port infrastructure projects. In the residential sector, it has worked with real estate developers in Mumbai and Pune. In the commercial sector its services consist of construction of structures such as shopping malls and multiplexes, IT Parks, warehouse facilities, hospitals and schools. In the industrial sector, its services consist of the construction of manufacturing facilities such as industrial factories and workshops. In the road infrastructure sector, it provides services such as earthwork, paving sewerage, storm water drainage, electrification, landscaping and arboriculture.
As on 31st December, 2009, the Company’s order book, on a consolidated basis, stood at Rs. 20,209.25 million spread across the construction sectors in which it operates. The size and diversity of its order book will enable the company to sustain its financial condition and results of operations through difficult economic climates and reduce its dependence on any particular segment.
The Company enjoys long term relationships with reputed clients, has significant experience and has an established track record and qualified and experienced management. By leveraging its strengths, it proposes to capture the high growth opportunities in the infrastructure and real estate sectors.
Out of the proceeds of the issue, an estimated Rs.1225.30 million will be utilized for purchase of capital equipment and the balance for general corporate purpose and issue expenses.
The Equity Shares of the Company would be listed on NSE and BSE.
The Book Running Lead Managers to the Issue are Edelweiss Capital Limited and IDFC-SSKI Limited.
Disclaimer:
Man Infraconstruction Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a public issue of its equity shares and has filed a Red Herring Prospectus with the Registrar of Companies, Maharashtra at Mumbai. The Red Herring Prospectus is available on the website of the Securities and Exchange Board of India at www.sebi.gov.in and the websites of the Book Running Lead Managers at www.idfcsski.com and www.edelcap.com. Any potential investor should note that investment in equity shares involves a high degree of risk. For details, potential investors may refer to and rely on the Red Herring Prospectus, including the section titled “Risk Factors”. This advertisement has been prepared for publication in India and may not be released in the United States. This advertisement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933 or an exemption from such registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the company and its management, as well as financial statements. Man Infraconstruction Limited does not intend to register any part of any present or proposed offering in the United States.
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