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MEP Infrastructure Developers Ltd IPO (MEP Infrastructure IPO) Detail

Apr 21, 2015 - Apr 23, 2015

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.

Company Financials

ParticularsFor the year/period ended (in Rs. Million)
31-Oct-1431-Mar-1431-Mar-1331-Mar-1231-Mar-1131-Mar-10
Total Income11,415.1812,401.3413,020.6511,366.024,635.803,291.29
Profit After Tax (PAT)(981.58)(1,205.60)(929.38)(530.94)(815.29)(12.73)

Objects of the Issue

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.

MEP Infrastructure IPO Details

MEP Infrastructure IPO Date Apr 21, 2015 to Apr 23, 2015
MEP Infrastructure IPO Face Value ₹10 per share
MEP Infrastructure IPO Price ₹63 to ₹65 per share
MEP Infrastructure IPO Lot Size 225 Shares
Issue Size162,569,191 shares of ₹10
(aggregating up to ₹324.00 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Company Promoters

The Promoters of the company are:

1. Dattatray P. Mhaiskar;
2. Jayant D. Mhaiskar; and
3. Ideal Toll & Infrastructure Pvt Ltd.

MEP Infrastructure IPO Lot Size

The MEP Infrastructure IPO lot size is 225 shares. A retail-individual investor can apply for up to 13 lots (2925 shares or ₹190,125).

Application Lots Shares Amount
Minimum 1 225 ₹14,625
Maximum 13 2925 ₹190,125

MEP Infrastructure IPO Review

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.

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MEP Infrastructure IPO Subscription Status (Bidding Detail)

The MEP Infrastructure IPO is subscribed 1.11 times on Apr 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)

CategorySubscription (times)
QIB1.02
NII1.51
Retail0.97
Total1.11

MEP Infrastructure IPO Prospectus

MEP Infrastructure IPO Rating

339
3.3
Rating:Rated 3.3 stars
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MEP Infrastructure IPO Listing Date

Listing Date Wednesday, May 6, 2015
BSE Script Code 539126
NSE Symbol MEP
Listing In B Group of Securities
ISIN INE776I01010
IPO Price ₹63 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO 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

Company Contact Information

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

MEP Infrastructure IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: mep.ipo@linkintime.co.in
Website: https://linkintime.co.in/

MEP Infrastructure IPO Review

MEP Infrastructure IPO Recommendation Summary

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Brokers 1 0 0
Members 0 0 0

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MEP Infrastructure IPO FAQs

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 Apr 21, 2015, and closes on Apr 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 Apr 21, 2015 and closes on Apr 23, 2015.

MEP Infrastructure IPO lot size is 225 Shares and the minimum order quantity is .

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, Edelweiss, 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.

The MEP Infrastructure IPO listing date is on Wednesday, May 6, 2015.
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MEP Infrastructure IPO Message Board

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169 Comments

122. Septa |   Link |May 7, 2015 3:05:26 PM
IPO Guru IPO Guru (4000+ Posts, 4600+ Likes)
As I said yesterday algorithm bid and offer was in work yesterday and today we saw big sell from credit sussie 1% of the total capital it is sick company avoid avoid
121. IPOANALYSIS |   Link |May 7, 2015 1:32:00 PM
Sell sell this stock will reach 22 rs in 1 yr. Better to exit with small loss rather than auffer big loss. Instead buy vrl logistics which have good fundamental and bought bybig fund houses.
120. Carn Mohan |   Link |May 7, 2015 12:00:37 PM
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
kabooter jaal may - - ?
119. Carn Mohan |   Link |May 7, 2015 9:51:29 AM
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
sick company.
current rate is very high.
118. Nasirul Choudhury |   Link |May 6, 2015 2:40:01 PM
Top Contributor Top Contributor (400+ Posts)
I won''t say it''s a bad listing.
118.1. Septa |   Link |May 6, 2015 9:52:45 PM
IPO Guru IPO Guru (4000+ Posts, 4600+ Likes)
Looking at buyers and sellers spread of 320: 62000 was surprised with listing and not see a crash anyway looks like a algorithm buy and selling to keep the price from crashing. Anyway it a sick company so I see big crash soon
117. KJ |   Link |May 6, 2015 12:26:40 PM
Stay Away from PNC as well
116. Regulagedda Ambica Prasad |   Link |May 6, 2015 11:56:11 AM
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Allottees of MEP INFRA IPO started losing their shirts.
116.1. SONMAYA |   Link |May 6, 2015 2:25:39 PM
IPO Mentor IPO Mentor (500+ Posts)
DEAR IPO RAJA,ALLOTTEES OF MEP INFRA IPO IS NOW GAINING THEIR SHIRTS... I DO NOT UNDERSTAND WHY ONE IS USING SUCH HARD WORDS.. JUST NOW MKT HAS TANKED NEARLY 600 POINTS SO WHAT ALL WHO IS HAVING INVESTMENT IN DIFFERENT STOCKS HAS STARTED LOOSING SHIRTS... BTW WHAT ABOUT U..?............ LET ME MAKE IT CLEAR I HAVE NOT APPLIED IN ..MEP...
115. gundu anna |   Link |May 6, 2015 11:47:24 AM
IPO Mentor IPO Mentor (500+ Posts, 100+ Likes)
One bad issue like MEP(full allotment) takes out money made is few good issues(few allotement)...

Stay away from highly priced or suspect issues...
114. IPO INV |   Link |May 6, 2015 10:24:47 AM
NSE open price was 65
114.1. gundu anna |   Link |May 6, 2015 11:48:20 AM
IPO Mentor IPO Mentor (500+ Posts, 100+ Likes)
Some one lucky might have got that 2 Rs....
113. Vivi |   Link |May 6, 2015 9:56:05 AM

Prev. Close 63.00
Open Price 63.00
Bid PRICE (QTY.)62.10 (325)
Offer PRICE (Qty.)63.00 (164,002)

164002 Shares offered for sale before open. 325 Shares bid to buy. Sure Shot to Crash.
112. IPO INV |   Link |May 6, 2015 9:49:05 AM
Sold in 65
112.2. Umesh P Singh |   Link |May 6, 2015 1:08:54 PM
Where U sold the shares at 65 becait opens in negative
112.3. IPO INV |   Link |May 6, 2015 3:12:32 PM
NSE Open price was 65, i was lucky to sell in that price.
111. IPOANALYSIS |   Link |May 6, 2015 1:27:22 AM
STOCK TO CRASH .

NEGATIVE EPS AND NEGATIVE p/e

tomorrow to hot lower circuit with all sellers.
stock to reach at 42 rs in 1 month and faie value of 22 rs in 1 year.

sell on opening if given a chance to minimize losses
110. pinkyjain |   Link |May 6, 2015 1:23:09 AM
Mep indicative price 59
109. Carn Mohan |   Link |May 5, 2015 1:58:44 PM
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
Retailes has allotted 100%
109.1. EBERAJU |   Link |May 5, 2015 10:48:45 PM
final price per share?
108. Nasirul Choudhury |   Link |May 4, 2015 10:50:40 PM
Top Contributor Top Contributor (400+ Posts)
MEP Infrastructure will be listing on on 6th ahead of it''s timeline. Goodluck subscribers.

http://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20150504-20
108.1. Maa Zaki |   Link |May 6, 2015 1:51:50 AM
Thanks for advice NC ji

What about MEP should I go on listing day, I had not applied
It''''s a general enq - MEP Should not feel

How can reach you, don''t disclose your contact no
Zaki
108.2. Nasirul Choudhury |   Link |May 6, 2015 3:16:18 AM
Top Contributor Top Contributor (400+ Posts)
Don''t even think. Promoters and especially the lenders are exploiting the opportunity of secondary market. As a thumb rule I never add a loss making company or companies with huge debts. A loss is always a loss that erodes shareholders wealth.
107. EBERAJU |   Link |May 4, 2015 7:56:12 PM
Will there be premium or discount?
107.1. Mr. Singh |   Link |May 5, 2015 2:34:08 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
discount -
106. rajkumar mahto |   Link |May 1, 2015 10:08:37 PM
when will MEP Infra IPO list
105. IPO INV |   Link |May 1, 2015 7:53:22 PM
8th May
104. santosh kataria |   Link |May 1, 2015 9:40:53 AM
listing date?
103. hemant garg chgh |   Link |Apr 23, 2015 10:44:30 PM
Negatives has some positives also..otherwise all are not fools...one should evaluate both the aspects...

Many congratulation for successful completion of this first infra issue of this year...
103.5. Nasirul Choudhury |   Link |May 5, 2015 8:30:16 PM
Top Contributor Top Contributor (400+ Posts)
Maa Zaki!

Buy this book and read in the specific order.

1. Stocks to Riches by Late Parag Parikh.
2. One Up On Wall Street by Peter Lynch.
3. Beating the Street by Peter Lynch.
4. Intelligent Investor by Benjamin Graham.
5. Value Investing & Behavioral Finance by Parag Parikh.
6. Security Analysis by Benjamin Graham

As I see you are long term investor. Will you still loose? Yes but loss will be less and your one or two pick in life for 20+ yrs will make it for all.
103.6. Maa Zaki |   Link |May 6, 2015 1:46:01 AM
Thanks NC ji

What about MEP should I go on listing day, I had not applied
It''s a general enq - MEP Should not feel
Zaki