MBL Infrastructures gets shareholders’ approval for raising Rs 300cr

MBL Infrastructures, an engineering, procurement, and construction company, said that its shareholders have approved raising of funds up to INR 300 crores during an annual general meeting.

The New Delhi-based firm is involved in executing roads and highways projects on an EPC and build, operate, and transfer (BOT) basis.

Currently, MBL Infrastructures has a couple of operational BOT projects, which include the Suratgarh-Bikaner National Highway Project in Rajasthan in which the company has an investment of INR 185 crores and the Waraseoni-Lalbarra Road in Madhya Pradesh.

MBL Infrastructures’ Executive Director Surender Aggarwal, CFO D S Negi and Company Secretary Anubhav Maheshwari said: “With the completion of several public interest projects post approval of Resolution Plan under IBC, 2016, with enhanced bid capacity, the Company shall endeavour to win 4-5 large ticket size projects.

“With the support of all the stakeholders, the approval of fund raising upto Rs 300 crores, with impetus of the Government on the infrastructure sector, the Company is now poised to be in the growth trajectory.”