Sumary of Markolines Traffic Controls Rs 40-crore IPO opens for subscription:
- maintenance services provider, opened for subscription on September 15.The company plans to raise nearly Rs 40 crore through its public issue of 51,28,000 equity shares at a fixed price of Rs 78 per equity share.
- The issue closes on September 20.Of the total issue, 2,57,600 equity shares are reserved for subscription by market maker.
- The issue will constitute 26.84 percent of the post-issue paid-up equity share capital of the company.
- The company intends to use the net fresh issue proceeds for repaying debts, working capital requirements, and general corporate purposes.
- Sanjay Bhanudas Patil, chairman and managing director, and Karan Atul Bora, executive director, are the promoters of the company, owning 48.78 percent stake in the company.