The company started its business operations in 2002.
The company started its business operations in 2002.

Markolines Traffic Controls IPO to open on September 15

  • Gretex Corporate Services Limited is the lead manager of the Issue. The majority of the net proceeds of the issue will be used to strengthen the capital base of the company and will be utilised for working capital requirements.
By hindustantimes.com, Hindustan Times, New Delhi
PUBLISHED ON SEP 14, 2021 10:38 AM IST

Markolines Traffic Controls Limited, eyeing to raise 40 crore, is set to launch its initial public offering (IPO) on September 15, which will close on September 20. According to the prospectus filed with BSE, Markolines Traffic Controls has offered 51,28,000 equity shares for 78 per equity share (including a premium of 68.00 per Equity Share) aggregating to 3,999.84 lakh. Out of the total shares, 24,35,200 equity shares has been reserved for each retail individual investor and non-institutional investor.

Gretex Corporate Services Limited is the lead manager of the Issue. The majority of the net proceeds of the issue will be used to strengthen the capital base of the company and will be utilised for working capital requirements.

The company started its business operations in 2002. The initial work involved road marking, but in 2009 Markolines Traffic Controls Limited ventured into the business opportunity of operation and maintenance of highway projects. The company's principal business operations are broadly divided into two categories -- highway operations and highway maintenance.

Under the high operations work, the company provides services like toll operations, route patrolling and incident management. Under the second category, it gives services like routine maintenance, preventive maintenance and major maintenance and repairs (MMR).

Markolines Traffic Controls Limited also specialises in highways maintenance services which are eco friendly in nature and enhances the life and quality of the road. These are micro-surfacing (MS), base/subbase stabilisation (FDR) and cold in-place recycling (CIPR).

With India being a developing country, where a huge network of roads is being built continuously, Markolines Traffic Controls Limited is expecting sustainable growth in its customer base. According to India Brand Equity Foundation (IBEF), India plans to spend $ 1.4 trillion on infrastructure during 2019-23 for sustainable development.

"India has the second-largest road network in the world, spanning a total of 6.21 million kilometres (km) and still growing every day. With the huge market potential and being present in the market with performance and high credentials, Markolines certainly have the advantage for sustainable growth in coming years," Sanjay B Patil, chairperson and managing director of Markolines Traffic Controls Limited, said in a press release.

Highway construction in India increased at 17.00% CAGR between FY16-FY21 and in May 2021, the ministry of road transport and highways constructed 1,470km of national highways compared with 847km in May 2020.

(With agency inputs)

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