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Net proceeds will be utilised for working capital requirements.

Mumbai (Maharashtra), September 10 (ANI): Markoline Traffic Controls Ltd, a leading highway operation and maintenance servicing provider, plans its initial public offering starting September 15.

The issue will close on September 20.

According to the prospectus filed with BSE, 51.28 lakh equity shares are being offered at a price of Rs 78 per equity share (including premium of Rs 68) aggregating to nearly Rs 40 crore.

Out of total shares 24.35 lakh shares have been reserved for retail individual Investors and non-institutional investors.

Gretex Corporate Services is the lead manager of the issue. A majority of net proceeds will strengthen the company’s capital base and be utilised for working capital requirements.

Markoline Traffic Controls started business operations in 2002. It expects sustainable growth in coming year by enhancing visibility among existing and potential customers. (ANI)

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