Man Infraconstruction IPO
Man Infraconstruction IPO — date, price band, lot size & details 2010
Man Infraconstruction listed on 11 Mar 2010 at ₹318, 26.2% above the ₹252 issue price.
Man Infraconstruction is a Mumbai construction company building port infrastructure, residential, industrial, commercial and road projects. Its total income was Rs 516.69 crore in FY2009.
Stock price
Man Infraconstruction is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 15 November.
- Open 18 Feb 2010
- Close 22 Feb 2010
- Allotment 03 Mar 2010
- Refund/credit TBA
- Listing 11 Mar 2010
Issue summary
The terms of the offer, as filed.
| IPO Dates | 18 to 22 Feb, 2010 |
|---|---|
| Price Band | ₹243 – ₹252 |
| Face Value | ₹10 |
| Lot Size | 22 Shares |
| Issue Size | ₹141.76 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 5,544 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 22 shares at the ₹252 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 22 | ₹5,544 |
| Retail (max) | 36 | 792 | ₹1,99,584 |
| S-HNI (min) | 37 | 814 | ₹2,05,128 |
| S-HNI (max) | 180 | 3,960 | ₹9,97,920 |
| B-HNI (min) | 181 | 3,982 | ₹10,03,464 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 88.14 crore in FY2007 to Rs 516.69 crore in FY2009.
- 02Profit after tax rose from Rs 14.16 crore in FY2007 to Rs 74.53 crore in FY2009.
- 03EBITDA was Rs 152.60 crore in FY2009.
- 04It had executed port projects at 5 ports, including JNPT, Mundra and Chennai.
- 05Net worth was Rs 302.63 crore on 31 December 2009.
Risks · 5
- 01Growth was very fast from Rs 88.14 crore of income in FY2007, which raises execution risk.
- 02Port and housing projects depend on a few large clients and on the real estate cycle in Mumbai; one complex alone covers 1.95 million sq ft.
- 03Rs 122.53 crore of the issue was for equipment, which needs steady work to stay used.
- 04Construction contracts can see cost overruns and delayed payments; FY2009 EBITDA was Rs 152.60 crore.
- 05Promoter holding fell from 71.61% before the issue to 63.48% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Man Infraconstruction offer document.
| Metric | 31 Dec 2009 | 31 Mar 2009 | 31 Mar 2008 | 31 Mar 2007 |
|---|---|---|---|---|
| Total Income | 318.07 | 516.69 | 227.47 | 88.14 |
| Profit After Tax | 56.69 | 74.53 | 31.62 | 14.16 |
| EBITDA | 122.34 | 152.60 | 55.97 | 22.04 |
| NET Worth | 302.63 | 262.11 | 128.00 | 67.57 |
| Reserves and Surplus | 260.69 | 233.69 | 102.04 | 43.07 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Man Infraconstruction RHP.
Where the money goes
₹131.13 Cr of the issue is earmarked to named objects.
Man Infraconstruction IPO Anchor Investors
8 anchor investors across 4 fund houses committed ₹24.49 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| Nomura Asset Management Singapore Ltd A/C Nomura Funds Ireland Public Limited Company - Nomura Funds Ireland - India Equity Fund | Nomura | 317,460 | 8.00 | 32.66% |
| Reliance Capital Trustee Co Ltd A/C Reliance Regular Saving Fund - Balanced Option | Nippon India Mutual Fund | 357,148 | 9.00 | 36.74% |
| Legg Mason Asian Enterprise Trust | - | 158,730 | 4.00 | 16.33% |
| Monsoon India Inflection Fund Limited | - | 25,124 | 0.63 | 2.58% |
| Monsoon India Inflection Fund 2 Limited | - | 50,284 | 1.27 | 5.17% |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Tax Saver Fund | Axis Mutual Fund | 19,844 | 0.50 | 2.04% |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Equity Fund | Axis Mutual Fund | 19,844 | 0.50 | 2.04% |
| India Diversified (Mauritius) Limited | - | 23,566 | 0.59 | 2.42% |
| Total anchor allocation | 24.49 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It has worked in six states: Maharashtra, Kerala, Gujarat, West Bengal, Goa and Tamil Nadu. It provides construction services for ports, residential, industrial, commercial and road projects.
It executed onshore port projects at Jawaharlal Nehru Port Trust, Mundra, Chennai, Vallarpadam and Pipavav. In housing it works with developers in Mumbai and Pune, and it was building a residential complex of about 1.95 million sq ft in the western suburbs of Mumbai.
The IPO was Rs 141.76 crore and was entirely fresh issue at Rs 252, the top of the Rs 243 to Rs 252 band. Most of the money was for buying construction equipment.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Man Infraconstruction IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Dam Capital Advisors Ltd
70 issues handledBest listing: Go Colors (+89.9%). Weakest: Metro Brands (-12.6%).
Edelweiss Financial Services Ltd
73 issues handledBest listing: Route Mobile (+104.9%). Weakest: ICICI Securities (-16.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Man Infraconstruction?
The current Grey Market Premium is ₹0.
What is the Man Infraconstruction IPO price band?
₹243 to ₹252, on a face value of ₹10.
When is the allotment?
The basis of allotment is 3 March 2010, with listing on 11 March 2010.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
