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MEP Infrastructure IPO is a book build issue of ₹324.00 crores. The issue is entirely a fresh issue of 5.11 crore shares of ₹324.00 crore.
MEP Infrastructure IPO bidding started from Apr 21, 2015 and ended on Apr 23, 2015. The shares got listed on BSE, NSE on May 6, 2015.
MEP Infrastructure IPO price band is set at ₹63.00 per share . The lot size for an application is 225. The minimum amount of investment required by an retail is ₹14,175 (225 shares). The lot size investment for sNII is 15 lots (3,375 shares), amounting to ₹2,12,625, and for bNII, it is 71 lots (15,975 shares), amounting to ₹10,06,425.
IDBI Capital Markets Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of 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 |
| Issue Price Band | ₹63 to ₹65 per share |
| Issue Price Final | ₹63 per share |
| Lot Size | 225 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 5,10,74,941 shares (aggregating up to ₹324.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 11,14,94,250 shares |
| Share Holding Post Issue | 16,25,69,191 shares |
MEP Infrastructure IPO offers total 5,10,74,941 shares. Out of which 3,83,06,206 (75.00%) allocated to QIB, 2,71,66,860 (53.19%) allocated to QIB, 76,61,241 (15.00%) allocated to NII, 51,07,494 (10.00%) allocated to RII and 1,11,39,346 (21.81%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 3,83,06,206 (75.00%) | NA |
| − Anchor Investor Shares Offered | 1,11,39,346 (21.81%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 2,71,66,860 (53.19%) | NA |
| NII (HNI) Shares Offered | 76,61,241 (15.00%) | NA |
| Retail Shares Offered | 51,07,494 (10.00%) | 22,699 |
| Total Shares Offered | 5,10,74,941 (100.00%) |
MEP Infrastructure IPO opens on April 21, 2015, and closes on April 23, 2015.
| IPO Open Date | Tue, Apr 21, 2015 |
| IPO Close Date | Thu, Apr 23, 2015 |
| Tentative Listing Date | Wed, May 6, 2015 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Apr 23, 2015 |
Investors can bid for a minimum of 225 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 225 | ₹14,175 |
| Retail (Max) | 14 | 3,150 | ₹1,98,450 |
| S-HNI (Min) | 15 | 3,375 | ₹2,12,625 |
| S-HNI (Max) | 70 | 15,750 | ₹9,92,250 |
| B-HNI (Min) | 71 | 15,975 | ₹10,06,425 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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) |
| KPI | Values |
|---|---|
| RoNW | -79.77% |
The Company MEP Infrastructure IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Repayment / pre-payment, in full or in part, of certain loans availed by the Subsidiary, MIPL | 262.08 |
| 2 | General corporate purposes | 40.37 |
[Dilip Davda] <p>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. <strong>Thus this issue appears to be a risky bet.</strong></p> <p><em>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.</em></p> Read detail review...
| Listing Date | May 6, 2015 |
| BSE Script Code | 539126 |
| NSE Symbol | MEP |
| ISIN | INE776I01010 |
| Final Issue Price | ₹63 per share |
| BSE Listing Group | B |
MEP Infrastructure Developers Ltd.
A 412, boomerang,
Chandivali Farm Road,
Andheri (East), Mumbai 400 072
Andheri, Maharashtra
Phone: (91 22) 6120 4800
Email: cs@mepinfra.com
Website: http://www.mepinfra.com
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: mep.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
MEP Infrastructure IPO is a main-board IPO of 5,10,74,941 equity shares of the face value of ₹10 aggregating up to ₹324.00 Crores. The issue is priced at ₹63 per share. The minimum order quantity is 225.
The IPO opens on April 21, 2015, and closes on April 23, 2015.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in MEP Infrastructure IPO using UPI as a payment gateway. Zerodha customers can apply in MEP Infrastructure IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in MEP Infrastructure IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The MEP Infrastructure IPO opens on April 21, 2015 and closes on April 23, 2015.
MEP Infrastructure IPO lot size is 225, and the minimum amount required for application is ₹14,175.
You can apply in MEP Infrastructure IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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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