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MEP Infrastructure Developers is going to open its initial public offer (IPO) of 5.14 crore equity shares for subscription on Tuesday, April 21, 2015. The Mumbai-based toll management company has fixed price band of the issue at Rs 63-65 per share. The public issue will close on April 23. Bids can be made for minimum 225 equity shares and in multiples of 225 equity shares thereafter.
MEP Infrastructure intends to utilise the net proceeds of the issue to repay loans availed by subsidiary MIPL and for general corporate purpose. 1:30 pm MF exposure: The mutual fund industry has increased exposure in software stocks to over Rs 36,000 crore at the end of 2014-15, up for the third consecutive fiscal, primarily on account of sharp rally in the equity markets. According to the data available with capital markets regulator Sebi, the funds' investment in software or IT stocks stood at Rs 36,121 crore as on March 31, 2015, accounting for 10.02 percent of their total equity assets under management (AUM) of Rs 3.6 lakh crore. This also marks the third consecutive full fiscal rise in the industry investment in software or IT companies. In comparison, MFs had deployed Rs 24,315 crore in the shares of software companies at the end of March 2014. They had invested Rs 19,196 crore and Rs 18,177 crore in these stocks as of March 2013 and March 2012.
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