Construction firm MBL Infrastructures' initial public offering (IPO) of 57 lakh shares will open for subscription on 27 November 2009. The price band for the IPO has been fixed at Rs 165 to Rs 180 per share. The IPO closes on 1 December 2009.

The issue includes net issue to the public of 56 lakh equity shares and a reservation of upto 1 lakh equity shares for subscription by eligible employees. Out of the total issue of 57 lakh shares, 8.4 lakh shares have been kept aside for anchor investors.

Based on the price band of Rs 165-Rs 180 per share, the company will raise between Rs 94 - Rs 103 crore.

Rating agency ICRA has assigned an IPO grade of 2 out of 5 to the MBL Infrastructures IPO.

MBL Infrastructures is engaged in the business of construction and maintenance of roads and highways, industrial infrastructure projects and other civil engineering projects for various government bodies and other clients. It is also engaged in steel trading and waste management at major steel plants.