MEP Infra plans Rs. 1,200cr under InvIT

The road infra builder of repute, MEP Infrastructure Developers in a recent move, has planned to generate Rs 1,200-cr from an infrastructure investment trust (InvIT), which it is contemplating to launch this fiscal itself and that the player has already submitted its proposal to the Securities and Exchange Board of India (Sebi) on this score, Vice-Chairman and Managing Director, Jayant Mhaiskar, further told that once the in-principle approval is in place, the company will start the process for forming the InvIT as the move will help the player to release its capital which is locked in the on-going projects and the same can be redeployed over a period of time. It may be recalled that in April last year; the company launched its initial public offer to raise Rs 324-cr which was mainly utilised to repay its debt. MEP Infra, which is largely into two areas of business - toll collection and OMT (operate, maintain and transfer), is also eyeing 15-20% increase in top line by 2018-19 fiscal, he added.