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MEP Infrastructure IPO is a book built issue of Rs 324.00 crores.
MEP Infrastructure IPO bidding started from April 21, 2015 and ended on April 23, 2015. The shares got listed on BSE, NSE on May 6, 2015.
MEP Infrastructure IPO price band is set at ₹63 to ₹65 per share. The minimum lot size for an application is 225 Shares. The minimum amount of investment required by retail investors is ₹14,625.
Idbi Capital Market Services Limited and Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) are the book running lead managers of the MEP Infrastructure IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to MEP Infrastructure IPO RHP for detailed information.
| IPO Date | April 21, 2015 to April 23, 2015 |
| Listing Date | May 6, 2015 |
| Face Value | ₹10 per share |
| Price Band | ₹63 to ₹65 per share |
| Lot Size | 225 Shares |
| Total Issue Size | 162,569,191 shares (aggregating up to ₹324.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
MEP Infrastructure IPO offers 40,289,225 shares. 27,432,083 (68.09%) to QIB, 7,714,285 (19.15%) to NII, 5,142,857 (12.76%) to RII. 22,857 RIIs will receive minimum 225 shares and (sNII) and (bNII) will receive minimum 3,150 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 27,432,083 (68.09%) | NA |
| NII (HNI) Shares Offered | 7,714,285 (19.15%) | |
| Retail Shares Offered | 5,142,857 (12.76%) | 22,857 |
| Total Shares Offered | 40,289,225 (100%) |
Investors can bid for a minimum of 225 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 225 | ₹14,625 |
| Retail (Max) | 13 | 2925 | ₹190,125 |
| Lot Size Calculator | |||
Incorporated in 2011, MEP Infrastructure Developers Ltd is engaged in tolling operations of the road infrastructure sector, with a pan-India presence. Company focus 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.
They have completed 68 projects, with an aggregate of 122 toll plazas and 783 lanes, and have an overall experience of over 12 years in this business across 12 states in India. Some of the significant toll collection projects completed by them include project for collection of toll at:
1. Five Mumbai Entry Points where they currently operate an OMT contract pursuant to a re-award;
2. Chalthan toll plaza, Gujarat;
3. Toll plazas located at Ahmedabad, AUDA Ring Road, Nadiad, Anand and Vadodara on the Ahmedabad Vadodara Expressway, Gujarat;
4. Rajiv Gandhi Sea Link, Mumbai, Maharashtra;
5. Chirle toll plaza and Karanjade toll plaza, Maharashtra; and
6. Toll plazas on Hanumangarh, Kishangarh road, Rajasthan.
MEP Infra currently operate 23 toll collection projects with an aggregate of 40 toll plazas, five OMT projects covering 2,530.04 lane kilometres with an aggregate of 15 toll plazas and one BOT project covering 42.02 lane kilometres with five toll plazas. These ongoing projects are located across nine states in India.
| Particulars | For the year/period ended (in Rs. Million) | |||||
| 31-Oct-14 | 31-Mar-14 | 31-Mar-13 | 31-Mar-12 | 31-Mar-11 | 31-Mar-10 | |
| Total Income | 11,415.18 | 12,401.34 | 13,020.65 | 11,366.02 | 4,635.80 | 3,291.29 |
| Profit After Tax (PAT) | (981.58) | (1,205.60) | (929.38) | (530.94) | (815.29) | (12.73) |
The objects of the Issue are:
1. Repayment / pre-payment, in full or part, of certain loans availed by our Subsidiary, MIPL; and
2. General corporate purposes.
[Dilip Davda]
On standalone basis the company has posted an average EPS of Rs. 1.48 with a diminishing trend for last three fiscal. For the same periods, on consolidated basis it has negative EPS of (–Rs. 11.06). On consolidated basis the company has posted turnover/(Loss) of Rs. 1136.60 crore/(-Rs.47.72 crore) (2012), Rs. 1302.07 crore/(-Rs.92.93 crore) (2013), Rs. 1240.13 crore/ (-Rs.121.41 crore). For first seven months of the current fiscal the company has posted turnover of Rs. 1141.52 crore with a loss of (-Rs.97.30 crore). If we annualized and attribute this earnings on post IPO equity then the EPS comes to (-Rs.10.30). Thus the asking price for the issue is exorbitant considering negative earnings as well as the last issue at a price below Rs. 22. As the new Government is slowly doing away with toll collections, ongoing is likely to be worsen and hence future earnings will have great impacts of abolition of toll tax. Thus this issue appears to be a risky bet.
DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here. Any reader taking decisions based on any information published here does so entirely at own risk. Author has no plans to invest in this offer.
Read detail review...The MEP Infrastructure IPO is subscribed 1.11 times on April 23, 2015 7:00:00 PM. The public issue subscribed 0.97 times in the retail category, 1.02 times in the QIB category, and 1.51 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.02 |
| NII | 1.51 |
| Retail | 0.97 |
| Total | 1.11 |
| Listing Date | May 6, 2015 |
| BSE Script Code | 539126 |
| NSE Symbol | MEP |
| ISIN | INE776I01010 |
| Final Issue Price | ₹63 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹63.00 |
| ₹63.00 |
| ₹55.45 |
| ₹63.50 |
| ₹60.95 |
| NSE |
|---|
| ₹63.00 |
| ₹65.00 |
| ₹52.80 |
| ₹65.00 |
| ₹58.40 |
MEP Infrastructure Developers Ltd
A 412, boomerang,
Chandivali Farm Road,
Andheri (East), Mumbai 400 072
Phone: (91 22) 6120 4800
Email: cs@mepinfra.com
Website: http://www.mepinfra.com
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: mep.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
MEP Infrastructure IPO is a main-board IPO of 162,569,191 equity shares of the face value of ₹10 aggregating up to ₹324.00 Crores. The issue is priced at ₹63 to ₹65 per share. The minimum order quantity is 225 Shares.
The IPO opens on April 21, 2015, and closes on April 23, 2015.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The MEP Infrastructure IPO opens on April 21, 2015 and closes on April 23, 2015.
MEP Infrastructure IPO lot size is 225 Shares, and the minimum amount required is ₹14,625.
You can apply in MEP Infrastructure IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for MEP Infrastructure IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the MEP Infrastructure IPO allotment status.
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