The initial public offering (IPO) of construction company MBL Infrastructure will open for subscription on November 27. The company's IPO is of 57 lakh shares of Rs 10 each will close on December 1. It plans to raise around Rs 100 crore via this issue.

Incorporated as Maheshwari Brother Limited in 1995, the name of the company was changed to the current MBL Infrastructures Limited in July 2006. Initially, MBL was engaged in the business of recycling ferrous scrap and slag at steel plants and in steel trading, but subsequently diversified into infrastructure development (primarily road projects), serving Government clients like the Public Works Department and the National Highways Authority of India. In 2007-08, MBL successfully completed the execution of the 114km Seoni-Balaghat-Rajegaon BOT project (for its 100% subsidiary AAP Infrastructures Limited). On a consolidated basis, MBL reported revenues of Rs. 5.14 billion and a Profit after Tax of Rs. 274.03 million in2008-09. The companyâ??s current order book stands at Rs. 7.62 billion.

MBL Infrastructures Limited has successfully executed small to medium size construction projects mainly in the road segment. Over the years, the company has moved from doing smaller projects involving short-term improvement and maintenance works to larger projects involving widening and strengthening of existing State and National highways.