Montecarlo files papers for Rs 550 crores IPO

The Montecarlo IPO: Ahmedabad based civil construction firm Montecarlo Ltd (MCL) has filed papers with SEBI for an initial public offering (IPO) amounting Rs. 550 crores comprising a fresh issue of equity worth Rs 450 crore and a sale of three million shares by promoter Kanubhai Patel Trust by way of IPO.

Montecarlo IPO is coming

montecarlo ipo, montecarlo ltd, Ipo upcoming, upcoming ipo, ipo wiki, ipo listing date, upcoming ipo calendar, upcoming ipo 2018, upcoming ipo may 2018, upcoming hot ipo, upcoming ipo issues, ipo news, initial public offering, sme ipo, ipo basics, latest ipo, ipo issue price, nse ipo, bse ipo, ipo review, sme ipo, gmp, grey market premium, grey market price

Edelweiss Financial Services, Axis Capital, and IDFC Bank are the merchant bankers managing the IPO.

Montecarlo was incorporated in 1995 as a private firm. It is an infrastructure engineering, procurement, construction and development company. Since inception, the company has completed more than 67 engineering, procurement and construction (EPC) projects valued at Rs 5,307.87 crore as of December 2017. The company undertakes infrastructure projects such as highways, roads, irrigation, water supply, mining, power transmission and distribution, building and urban infrastructures.

Read: More information about Montecarlo Ltd

Funds raised through the issue will be utilised towards investment in the company’s projects, and towards working capital requirements of the company.

More than 95% of its order book comprised government projects. Majority of company’s work done for National Highways Authority of India and Rail Vikas Nigam Ltd.  Montecarlo’s revenue rose to Rs1,640.25 crore in 2015-16 from Rs1,063.93 crore in the previous year. Profit rose to Rs93.11 crore from Rs62.96 crore in the previous year, according to data from the company’s filings with the Registrar of Companies (RoC).

montecarlo ipo, Ipo upcoming, upcoming ipo, ipo wiki, ipo listing date, upcoming ipo calendar, upcoming ipo 2018, upcoming ipo may 2018, upcoming hot ipo, upcoming ipo issues, ipo news, initial public offering, sme ipo, ipo basics, latest ipo, ipo issue price, nse ipo, bse ipo, ipo review, sme ipo, gmp, grey market premium, grey market price

montecarlo ipo, Ipo upcoming, upcoming ipo, ipo wiki, ipo listing date, upcoming ipo calendar, upcoming ipo 2018, upcoming ipo may 2018, upcoming hot ipo, upcoming ipo issues, ipo news, initial public offering, sme ipo, ipo basics, latest ipo, ipo issue price, nse ipo, bse ipo, ipo review, sme ipo, gmp, grey market premium, grey market price

montecarlo ipo, Ipo upcoming, upcoming ipo, ipo wiki, ipo listing date, upcoming ipo calendar, upcoming ipo 2018, upcoming ipo may 2018, upcoming hot ipo, upcoming ipo issues, ipo news, initial public offering, sme ipo, ipo basics, latest ipo, ipo issue price, nse ipo, bse ipo, ipo review, sme ipo, gmp, grey market premium, grey market price

Several EPC companies have issued its IPO and made debut in the market to raise funds through public offerings. HG Infra Engineering Ltd was set to launch its Rs462 crore initial public offering on 26 February. In May, PSP Projects raised Rs211 crore through its IPO sale. Other EPC companies which made its debut in the IPO market in recent times include Capacit’e Infraprojects Ltd, Power Mech Projects and PNC Infratech Ltd. In 2017, 36 companies raised about Rs 67000 crore through the IPO platform.

Also Read:

Walmart may launch IPO for Flipkart

Fino Payment Bank planning to raise Rs. 300 crores

ReNew Power Filed IPO Papers

 

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.