MBL Infrastructures, primarily focused in highways and road construction & maintenance, industrial infrastructure projects, other civil engineering and BOT projects. has filed its DRHP with Sebi on 1/10/2008 to enter the capital market with a public issue of 57 lakh equity shares of Rs 10 each at a price to be decided through the 100% book building process at a later stage. The issue includes net issue to the public of 56 lakh equity shares and a reservation of 1 lakh equity shares to the employees of the company. The issue shall constitute 32.55% of the fully diluted post issue paid-up capital of the company.
The company proposes to list its shares on BSE and NSE and the BRLM to the issue is Motilal Oswal Investment.
The objects of the issue are for investing in capital equipments, joint ventures, BOT projects and for working capital requirements.
The company intends to use the proceeds from the issue for part financing the above mentioned project cost. It intends to deploy Rs 50 crores for investing in capital equipments; Rs 30 crores in BOT projects and joint ventures and Rs 29 crores for working capital requirements. The company has availed a term loan of Rs 10 crores to part finance the project cost.
MBL is engaged in the construction and maintenance of Roads and Highways, industrial infrastructure projects and other civil engineering projects for various government bodies and other clients and has a fast growing business that provides integrated engineering, procurement and construction services for civil construction and infrastructure sector projects.
The company has a pan India presence and have executed a number of projects in the states of West Bengal, Madhya Pradesh, Maharashtra, Rajasthan, Assam, Uttar Pradesh, Bihar, Delhi Andhra Pradesh, Haryana and Karnataka.
It is also engaged in steel trading and waste management (ferrous scrap and slag recycling) at major steel plants and has works at major steel facilities located at Bhadravati, Durgapur, Burnpur, Bhillai etc. The company has a ready mix concrete (RMC) and bitumen divisions to ensure adequate and timely supply of RMC and bitumen mixes. This division also sells RMC to third parties. The company also have a quarrying / mining division to ensure adequate supply of bulk raw material of stone aggregates and also sells surplus stone aggregates to third parties.
MBL have completed the execution of BOT project of 114 kms. of Seoni- Balaghat- Rajegaon State Highway under the PPP arrangements and was among the first batch of contractors to be awarded the contracts of North South East West Corridor by NHAI and also the first to be awarded the maintenance of Ring Road and outer Ring Road, the most important corridors of Delhi.
As on April 1, 2008 the company had Rs. 72,5.61 crores worth of contracts, Rs. 308.75 crores of contracts will be executed solely by the company and Rs. 416.86 crores through joint ventures the company's share being Rs. 287 crores in the joint ventures
The company has posted total income of Rs 294 crores for the year ended March 31, 2008 as against Rs 171 crores for the previous year. The net profit for the year was Rs 17 crores as compared with Rs 10 crores for the previous year.