Highway services provider Markolines Traffic Controls' Rs.40-Cr IPO to open next week

Markoline Traffic Controls Ltd, a highway operation and maintenance services providing company, plans to open its initial public offering (IPO) on September 15. The three-day issue will close on September 20. The company plans to use majority of the net proceeds of the issue to strengthen the capital base of the company and will be utilized for working capital requirements. According to the prospectus filed with BSE, 51,28,000 equity shares are offered at a price of INR 78 per equity share (including premium of INR 68 per equity share) aggregating to INR 3,999.84 lakh. Gretex Corporate Services Ltd is the Lead Manager of the Issue.